Teacher Retirement System of Texas Has $1.96 Million Stock Holdings in Rambus, Inc. (NASDAQ:RMBS)

Teacher Retirement System of Texas grew its stake in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 45.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 37,794 shares of the semiconductor company's stock after purchasing an additional 11,837 shares during the quarter. Teacher Retirement System of Texas' holdings in Rambus were worth $1,957,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in RMBS. Tsfg LLC acquired a new position in shares of Rambus in the 1st quarter valued at $26,000. Orion Capital Management LLC acquired a new stake in shares of Rambus in the 4th quarter valued at approximately $37,000. Skandinaviska Enskilda Banken AB publ raised its position in shares of Rambus by 927.5% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company's stock valued at $38,000 after acquiring an additional 640 shares during the period. Farther Finance Advisors LLC raised its position in shares of Rambus by 379.1% in the 4th quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company's stock valued at $60,000 after acquiring an additional 891 shares during the period. Finally, Quarry LP raised its position in shares of Rambus by 26.9% in the 4th quarter. Quarry LP now owns 1,166 shares of the semiconductor company's stock valued at $62,000 after acquiring an additional 247 shares during the period. Institutional investors and hedge funds own 88.54% of the company's stock.

Analyst Ratings Changes

RMBS has been the topic of a number of analyst reports. Wall Street Zen downgraded shares of Rambus from a "buy" rating to a "hold" rating in a research report on Monday, May 19th. Rosenblatt Securities reaffirmed a "buy" rating and set a $80.00 price objective on shares of Rambus in a research note on Tuesday, April 29th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $75.00.

Insider Buying and Selling

In other Rambus news, CEO Luc Seraphin sold 6,348 shares of the business's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $46.97, for a total transaction of $298,165.56. Following the transaction, the chief executive officer owned 319,241 shares of the company's stock, valued at $14,994,749.77. The trade was a 1.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven Laub sold 1,847 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $55.12, for a total transaction of $101,806.64. Following the completion of the transaction, the director owned 9,057 shares in the company, valued at $499,221.84. This trade represents a 16.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,848 shares of company stock worth $1,080,833 over the last quarter. 1.00% of the stock is owned by corporate insiders.

Rambus Price Performance

Shares of RMBS traded down $0.54 during midday trading on Friday, hitting $64.06. The stock had a trading volume of 478,518 shares, compared to its average volume of 1,241,185. The company has a 50 day simple moving average of $58.42 and a two-hundred day simple moving average of $56.48. Rambus, Inc. has a twelve month low of $37.43 and a twelve month high of $69.15. The firm has a market cap of $6.88 billion, a price-to-earnings ratio of 33.36 and a beta of 1.24.

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.