Teacher Retirement System of Texas Has $1.87 Million Position in Rambus Inc. (NASDAQ:RMBS)

Teacher Retirement System of Texas lessened its holdings in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 43.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,357 shares of the semiconductor company's stock after selling 20,984 shares during the period. Teacher Retirement System of Texas' holdings in Rambus were worth $1,867,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. WCM Investment Management LLC raised its stake in Rambus by 38.1% in the 4th quarter. WCM Investment Management LLC now owns 227,710 shares of the semiconductor company's stock worth $15,621,000 after acquiring an additional 62,880 shares during the last quarter. Raymond James & Associates raised its stake in Rambus by 156.0% in the 4th quarter. Raymond James & Associates now owns 32,137 shares of the semiconductor company's stock worth $2,193,000 after acquiring an additional 19,582 shares during the last quarter. Retirement Systems of Alabama purchased a new position in Rambus in the 4th quarter worth $9,190,000. DekaBank Deutsche Girozentrale raised its stake in Rambus by 1,326.0% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 46,673 shares of the semiconductor company's stock worth $3,186,000 after acquiring an additional 43,400 shares during the last quarter. Finally, Van ECK Associates Corp purchased a new position in shares of Rambus during the 4th quarter valued at about $2,193,000. Hedge funds and other institutional investors own 88.54% of the company's stock.

Rambus Stock Up 0.1 %

Shares of NASDAQ:RMBS traded up $0.03 during trading on Friday, reaching $57.97. 740,051 shares of the company's stock traded hands, compared to its average volume of 1,330,819. Rambus Inc. has a fifty-two week low of $48.13 and a fifty-two week high of $76.38. The firm has a market cap of $6.25 billion, a PE ratio of 17.73 and a beta of 1.18. The company has a 50-day simple moving average of $59.09 and a 200-day simple moving average of $62.63.

Insider Buying and Selling

In related news, CEO Luc Seraphin sold 15,000 shares of Rambus stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $62.17, for a total value of $932,550.00. Following the sale, the chief executive officer now directly owns 304,755 shares in the company, valued at approximately $18,946,618.35. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Luc Seraphin sold 15,000 shares of Rambus stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $62.17, for a total value of $932,550.00. Following the sale, the chief executive officer now directly owns 304,755 shares in the company, valued at approximately $18,946,618.35. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Xianzhi Sean Fan sold 2,004 shares of the firm's stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $55.00, for a total transaction of $110,220.00. Following the completion of the transaction, the chief operating officer now directly owns 121,229 shares in the company, valued at $6,667,595. The disclosure for this sale can be found here. In the last three months, insiders have sold 126,492 shares of company stock worth $7,716,283. Insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

RMBS has been the subject of a number of recent research reports. Wells Fargo & Company lifted their price objective on Rambus from $80.00 to $85.00 and gave the company an "overweight" rating in a research note on Friday, January 26th. Rosenblatt Securities restated a "buy" rating and set a $85.00 target price on shares of Rambus in a research report on Wednesday, March 13th. Finally, Jefferies Financial Group restated a "buy" rating and set a $75.00 target price (up from $72.00) on shares of Rambus in a research report on Monday, May 13th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $80.00.

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.