Public Employees Retirement System of Ohio Purchases 20,424 Shares of Rambus, Inc. $RMBS

Key Points

• The Public Employees Retirement System of Ohio increased its holdings in Rambus, Inc. by 84.7%, acquiring an additional 20,424 shares during the 2nd quarter, bringing its total to 44,551 shares valued at approximately $2.85 million.
• Several institutional investors also boosted their stakes in Rambus, with Price T Rowe Associates increasing its holdings by 60.5% in Q1, now owning over 8.7 million shares worth nearly $453 million.
• Wall Street analysts maintain a generally positive outlook on Rambus, with an average target price of $93.50 and several buy ratings, although some reports have lowered ratings in recent months.

Public Employees Retirement System of Ohio lifted its position in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 84.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 44,551 shares of the semiconductor company's stock after purchasing an additional 20,424 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Rambus were worth $2,852,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings in shares of Rambus by 60.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,746,856 shares of the semiconductor company's stock worth $452,870,000 after purchasing an additional 3,297,728 shares during the period. American Century Companies Inc. increased its holdings in shares of Rambus by 21.1% in the first quarter. American Century Companies Inc. now owns 1,424,365 shares of the semiconductor company's stock worth $73,747,000 after purchasing an additional 248,013 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Rambus by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,256,346 shares of the semiconductor company's stock worth $65,047,000 after purchasing an additional 6,600 shares during the period. Westwood Holdings Group Inc. increased its holdings in shares of Rambus by 9.3% in the first quarter. Westwood Holdings Group Inc. now owns 1,232,210 shares of the semiconductor company's stock worth $63,798,000 after purchasing an additional 104,356 shares during the period. Finally, Congress Asset Management Co. increased its holdings in shares of Rambus by 38.5% in the first quarter. Congress Asset Management Co. now owns 1,199,564 shares of the semiconductor company's stock worth $62,107,000 after purchasing an additional 333,538 shares during the period. Institutional investors own 88.54% of the company's stock.

Insider Activity

In other Rambus news, Director Meera Rao sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $71.72, for a total transaction of $215,160.00. Following the completion of the transaction, the director owned 29,914 shares of the company's stock, valued at approximately $2,145,432.08. This trade represents a 9.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Necip Sayiner sold 7,500 shares of the firm's stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $85.63, for a total transaction of $642,225.00. Following the transaction, the director directly owned 30,824 shares of the company's stock, valued at $2,639,459.12. This represents a 19.57% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,260 shares of company stock valued at $2,407,852. Company insiders own 1.00% of the company's stock.

Rambus Stock Down 1.0%

NASDAQ RMBS opened at $103.14 on Thursday. The company has a 50-day simple moving average of $81.21 and a two-hundred day simple moving average of $64.61. Rambus, Inc. has a 12-month low of $39.56 and a 12-month high of $109.15. The firm has a market cap of $11.10 billion, a price-to-earnings ratio of 48.65 and a beta of 1.46.

Wall Street Analyst Weigh In

RMBS has been the topic of several research analyst reports. Jefferies Financial Group upped their price target on shares of Rambus from $69.00 to $75.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Arete upgraded shares of Rambus from a "neutral" rating to a "buy" rating and set a $91.00 target price for the company in a research report on Thursday, August 28th. Rosenblatt Securities upped their target price on shares of Rambus from $90.00 to $130.00 and gave the stock a "buy" rating in a research report on Wednesday, September 17th. Evercore ISI upped their target price on shares of Rambus from $81.00 to $114.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 16th. Finally, Wall Street Zen lowered shares of Rambus from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $93.50.

Rambus Company Profile

Rambus Inc provides semiconductor products in the United States, South Korea, Singapore, and internationally. The company offers DDR memory interface chips, including DDR5 and DDR4 memory interface chips to module manufacturers, OEMs, and hyperscalers; silicon IP, such as interface and security IP solutions that move and protect data in advanced data center, government, and automotive applications; and interface IP solutions for high-speed memory and chip-to-chip digital controller IP.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.