Strs Ohio Invests $1.41 Million in 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 acquired a new position in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 27,300 shares of the semiconductor company's stock, valued at approximately $1,413,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in RMBS. Cetera Investment Advisers boosted its position in shares of Rambus by 3.2% during the 4th quarter. Cetera Investment Advisers now owns 24,486 shares of the semiconductor company's stock worth $1,294,000 after purchasing an additional 757 shares in the last quarter. Nomura Holdings Inc. bought a new position in shares of Rambus during the 4th quarter worth about $746,000. Quantinno Capital Management LP boosted its position in shares of Rambus by 19.6% during the 4th quarter. Quantinno Capital Management LP now owns 7,413 shares of the semiconductor company's stock worth $392,000 after purchasing an additional 1,213 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of Rambus by 24.2% during the 4th quarter. ProShare Advisors LLC now owns 49,027 shares of the semiconductor company's stock worth $2,592,000 after purchasing an additional 9,546 shares in the last quarter. Finally, Vident Advisory LLC boosted its position in shares of Rambus by 11.6% during the 4th quarter. Vident Advisory LLC now owns 73,714 shares of the semiconductor company's stock worth $3,897,000 after purchasing an additional 7,686 shares in the last quarter. Institutional investors own 88.54% of the company's stock.

Rambus Stock Performance

Rambus stock traded down $5.03 during mid-day trading on Friday, reaching $102.35. The company's stock had a trading volume of 9,561,482 shares, compared to its average volume of 1,983,657. Rambus, Inc. has a 12-month low of $38.15 and a 12-month high of $107.67. The company has a market capitalization of $11.01 billion, a P/E ratio of 48.28 and a beta of 1.38. The firm's fifty day moving average price is $75.36 and its two-hundred day moving average price is $61.84.

Insider Activity

In other Rambus news, Director Meera Rao sold 3,000 shares of the firm's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $71.72, for a total value of $215,160.00. Following the completion of the transaction, the director directly owned 29,914 shares of the company's stock, valued at $2,145,432.08. This trade represents a 9.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Necip Sayiner sold 7,500 shares of the firm's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $73.53, for a total transaction of $551,475.00. Following the completion of the transaction, the director directly owned 38,324 shares of the company's stock, valued at approximately $2,817,963.72. The trade was a 16.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,260 shares of company stock valued at $2,407,852 in the last quarter. 1.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on RMBS. Jefferies Financial Group increased their price objective on shares of Rambus from $69.00 to $75.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Robert W. Baird raised their price target on shares of Rambus from $90.00 to $120.00 and gave the company an "outperform" rating in a research report on Monday, September 15th. Evercore ISI raised their price target on shares of Rambus from $81.00 to $114.00 and gave the company an "outperform" rating in a research report on Tuesday. Rosenblatt Securities increased 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. Finally, Arete upgraded shares of Rambus from a "neutral" rating to a "buy" rating and set a $91.00 price objective for the company in a research note on Thursday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. Based on data from MarketBeat, Rambus has a consensus rating of "Buy" and an average target price of $93.50.

About Rambus

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.