Rambus, Inc. (NASDAQ:RMBS) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lowered its position in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 13.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,602 shares of the semiconductor company's stock after selling 8,670 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Rambus were worth $2,776,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in RMBS. Sequoia Financial Advisors LLC increased its position in Rambus by 19.1% during the 1st quarter. Sequoia Financial Advisors LLC now owns 5,041 shares of the semiconductor company's stock worth $261,000 after purchasing an additional 808 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Rambus by 53.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,602 shares of the semiconductor company's stock valued at $554,000 after acquiring an additional 3,711 shares during the period. KBC Group NV lifted its holdings in shares of Rambus by 18.9% during the 1st quarter. KBC Group NV now owns 4,765 shares of the semiconductor company's stock valued at $247,000 after acquiring an additional 757 shares in the last quarter. Corient Private Wealth LLC purchased a new stake in Rambus during the 4th quarter worth $269,000. Finally, GAMMA Investing LLC boosted its position in Rambus by 45.8% during the 1st quarter. GAMMA Investing LLC now owns 4,573 shares of the semiconductor company's stock worth $237,000 after purchasing an additional 1,436 shares during the period. 88.54% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Steven Laub sold 1,847 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $55.12, for a total transaction of $101,806.64. Following the transaction, the director directly owned 9,057 shares in the company, valued at $499,221.84. The trade was a 16.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.00% of the stock is owned by company insiders.

Rambus Price Performance

Shares of RMBS opened at $66.61 on Wednesday. Rambus, Inc. has a one year low of $37.43 and a one year high of $70.05. The company has a 50-day moving average of $60.24 and a two-hundred day moving average of $57.05. The stock has a market cap of $7.15 billion, a price-to-earnings ratio of 34.69 and a beta of 1.24.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RMBS. Wall Street Zen raised shares of Rambus from a "buy" rating to a "strong-buy" rating in a research report on Friday, July 18th. Rosenblatt Securities restated a "buy" rating and issued a $80.00 price target on shares of Rambus in a research report on Tuesday, April 29th. Six analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $75.00.

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.

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