State of Tennessee Department of Treasury Sells 15,243 Shares of Rambus Inc. (NASDAQ:RMBS)

State of Tennessee Department of Treasury decreased its stake in Rambus Inc. (NASDAQ:RMBS - Free Report) by 25.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,078 shares of the semiconductor company's stock after selling 15,243 shares during the quarter. State of Tennessee Department of Treasury's holdings in Rambus were worth $2,330,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Invesco Ltd. boosted its holdings in Rambus by 72.1% in the fourth quarter. Invesco Ltd. now owns 4,999,748 shares of the semiconductor company's stock worth $264,287,000 after purchasing an additional 2,093,953 shares in the last quarter. Norges Bank acquired a new stake in shares of Rambus in the fourth quarter worth about $94,368,000. Raymond James Financial Inc. bought a new stake in shares of Rambus during the 4th quarter worth about $51,500,000. Congress Asset Management Co. bought a new stake in shares of Rambus during the 4th quarter worth about $45,778,000. Finally, SG Americas Securities LLC increased its holdings in shares of Rambus by 1,657.4% during the 4th quarter. SG Americas Securities LLC now owns 552,173 shares of the semiconductor company's stock valued at $29,188,000 after acquiring an additional 520,754 shares during the last quarter. Institutional investors and hedge funds own 88.54% of the company's stock.

Wall Street Analyst Weigh In

RMBS has been the subject of a number of recent analyst reports. Susquehanna upped their target price on Rambus from $66.00 to $70.00 and gave the stock a "positive" rating in a research report on Tuesday, February 4th. Robert W. Baird set a $90.00 target price on shares of Rambus in a research note on Monday, February 3rd. StockNews.com upgraded shares of Rambus from a "hold" rating to a "buy" rating in a report on Sunday. Evercore ISI started coverage on shares of Rambus in a report on Tuesday, February 4th. They set an "outperform" rating and a $71.00 price target for the company. Finally, Wells Fargo & Company lifted their price objective on Rambus from $62.00 to $73.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $75.00.

Rambus Trading Up 4.9 %

RMBS traded up $2.41 on Friday, hitting $51.29. 1,026,490 shares of the stock traded hands, compared to its average volume of 1,293,372. The business has a fifty day moving average price of $51.06 and a two-hundred day moving average price of $54.72. The firm has a market capitalization of $5.51 billion, a PE ratio of 30.90 and a beta of 1.20. Rambus Inc. has a 52 week low of $37.43 and a 52 week high of $69.15.

Insider Transactions at Rambus

In other Rambus news, Director Necip Sayiner sold 4,625 shares of Rambus stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $66.74, for a total transaction of $308,672.50. Following the sale, the director now owns 42,000 shares in the company, valued at $2,803,080. The trade was a 9.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Luc Seraphin sold 6,348 shares of the firm'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 value of $298,165.56. Following the transaction, the chief executive officer now owns 319,241 shares of the company's stock, valued at $14,994,749.77. This trade represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 113,300 shares of company stock valued at $6,745,221. 1.00% of the stock is owned by corporate insiders.

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.