Public Employees Retirement System of Ohio Trims Position in Rambus Inc. (NASDAQ:RMBS)

Public Employees Retirement System of Ohio lowered its stake in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 81.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,786 shares of the semiconductor company's stock after selling 140,748 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Rambus were worth $1,680,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of RMBS. Orion Capital Management LLC purchased a new position in Rambus during the 4th quarter worth $37,000. Castleark Management LLC purchased a new position in Rambus during the fourth quarter worth about $7,395,000. PharVision Advisers LLC bought a new stake in Rambus in the 4th quarter worth about $253,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Rambus by 18.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 290,392 shares of the semiconductor company's stock valued at $15,350,000 after buying an additional 45,967 shares during the last quarter. Finally, Vident Advisory LLC increased its position in shares of Rambus by 11.6% during the fourth quarter. Vident Advisory LLC now owns 73,714 shares of the semiconductor company's stock valued at $3,897,000 after acquiring an additional 7,686 shares during the last quarter. Institutional investors own 88.54% of the company's stock.

Rambus Stock Down 0.8%

RMBS traded down $0.43 on Thursday, hitting $56.72. The company's stock had a trading volume of 385,559 shares, compared to its average volume of 1,272,530. Rambus Inc. has a 12 month low of $37.43 and a 12 month high of $69.15. The firm has a market cap of $6.09 billion, a P/E ratio of 34.23 and a beta of 1.24. The company's 50 day simple moving average is $50.81 and its 200-day simple moving average is $55.47.

Analysts Set New Price Targets

Several research firms recently weighed in on RMBS. Rosenblatt Securities restated a "buy" rating and set a $80.00 price target on shares of Rambus in a research report on Tuesday, April 29th. Wall Street Zen cut shares of Rambus from a "buy" rating to a "hold" rating in a report on Monday, May 19th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $75.00.

Insiders Place Their Bets

In other news, CEO Luc Seraphin sold 10,000 shares of the stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $46.81, for a total transaction of $468,100.00. Following the transaction, the chief executive officer now directly owns 336,844 shares in the company, valued at approximately $15,767,667.64. This represents a 2.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven Laub sold 1,847 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $55.12, for a total value of $101,806.64. Following the completion of the sale, the director now owns 9,057 shares of the company's stock, valued at $499,221.84. The trade was a 16.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 61,848 shares of company stock worth $3,182,033 in the last ninety days. 1.00% of the stock is currently owned by insiders.

Rambus 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.