Strs Ohio Buys Shares of 27,300 Rambus, Inc. $RMBS

Key Points

• Strs Ohio has acquired a new stake in Rambus, Inc. by purchasing 27,300 shares valued at approximately $1.41 million.
• Institutional interest in Rambus is high, with 88.54% of the company's stock owned by institutional investors, indicating strong market confidence.
• Several analysts have upgraded Rambus' rating, with price targets rising significantly; notably, Robert W. Baird raised its target from $90 to $120.

Strs Ohio bought a new position in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 27,300 shares of the semiconductor company's stock, valued at approximately $1,413,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise bought a new stake in Rambus during the 1st quarter worth approximately $25,000. Tsfg LLC bought a new stake in Rambus during the 1st quarter worth approximately $26,000. Orion Capital Management LLC bought a new stake in Rambus during the 4th quarter worth approximately $37,000. McIlrath & Eck LLC bought a new stake in Rambus during the 1st quarter worth approximately $42,000. Finally, Larson Financial Group LLC grew its holdings in Rambus by 1,260.3% during the 1st quarter. Larson Financial Group LLC now owns 857 shares of the semiconductor company's stock worth $44,000 after acquiring an additional 794 shares during the last quarter. 88.54% of the stock is owned by institutional investors.

Insider Activity

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

Wall Street Analyst Weigh In

RMBS has been the topic of a number of analyst reports. Evercore ISI upped their price objective on shares of Rambus from $81.00 to $114.00 and gave the company an "outperform" rating in a research note on Tuesday, September 16th. Arete raised shares of Rambus from a "neutral" rating to a "buy" rating and set a $91.00 price objective on the stock in a research note on Thursday, August 28th. Susquehanna upped their price objective on shares of Rambus from $70.00 to $75.00 and gave the company a "positive" rating in a research note on Tuesday, July 29th. Jefferies Financial Group upped their price objective on shares of Rambus from $69.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Finally, Rosenblatt Securities upped their price objective on shares of Rambus from $90.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company. Based on data from MarketBeat.com, Rambus presently has an average rating of "Buy" and a consensus price target of $93.50.

Rambus Stock Down 4.7%

RMBS traded down $5.03 during trading on Friday, hitting $102.35. 9,561,482 shares of the company's stock were exchanged, compared to its average volume of 2,411,601. The business's 50 day moving average is $75.36 and its two-hundred day moving average is $61.96. Rambus, Inc. has a fifty-two week low of $38.15 and a fifty-two week high of $107.67. The stock has a market cap of $11.01 billion, a P/E ratio of 48.28 and a beta of 1.38.

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.