Retirement Systems of Alabama Sells 2,221 Shares of Rambus Inc. (NASDAQ:RMBS)

Retirement Systems of Alabama reduced its holdings in shares of Rambus Inc. (NASDAQ:RMBS) by 1.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 130,806 shares of the semiconductor company’s stock after selling 2,221 shares during the quarter. Retirement Systems of Alabama owned approximately 0.12% of Rambus worth $5,523,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in RMBS. State Street Corp boosted its stake in shares of Rambus by 3.5% during the 3rd quarter. State Street Corp now owns 4,819,125 shares of the semiconductor company’s stock worth $203,463,000 after buying an additional 164,830 shares during the last quarter. Geode Capital Management LLC boosted its position in Rambus by 0.8% during the third quarter. Geode Capital Management LLC now owns 2,621,342 shares of the semiconductor company’s stock valued at $110,693,000 after purchasing an additional 21,053 shares during the last quarter. Hood River Capital Management LLC increased its position in shares of Rambus by 5.7% during the 2nd quarter. Hood River Capital Management LLC now owns 2,165,548 shares of the semiconductor company’s stock worth $127,248,000 after purchasing an additional 116,976 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Rambus by 9.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,798,485 shares of the semiconductor company’s stock worth $105,673,000 after purchasing an additional 158,259 shares in the last quarter. Finally, Swedbank AB boosted its holdings in shares of Rambus by 12.5% in the 3rd quarter. Swedbank AB now owns 1,743,000 shares of the semiconductor company’s stock valued at $73,589,000 after buying an additional 193,150 shares during the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on RMBS. Robert W. Baird assumed coverage on shares of Rambus in a report on Monday, November 25th. They set an “outperform” rating and a $90.00 target price on the stock. Loop Capital began coverage on Rambus in a report on Monday, November 11th. They set a “buy” rating and a $70.00 price target for the company. Rosenblatt Securities restated a “buy” rating and issued a $85.00 price objective on shares of Rambus in a research note on Tuesday, October 29th. Baird R W upgraded Rambus to a “strong-buy” rating in a research note on Monday, November 25th. Finally, Wells Fargo & Company started coverage on Rambus in a research note on Wednesday, November 6th. They issued an “overweight” rating and a $62.00 price target on the stock. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $74.67.

Insider Activity

In related news, Director Meera Rao sold 5,408 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $58.22, for a total transaction of $314,853.76. Following the sale, the director now owns 29,090 shares of the company’s stock, valued at $1,693,619.80. This represents a 15.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.00% of the stock is currently owned by company insiders.

Rambus Trading Down 5.8 %

Shares of NASDAQ RMBS opened at $54.83 on Thursday. The business’s 50 day moving average is $52.07 and its 200-day moving average is $50.47. The firm has a market cap of $5.84 billion, a P/E ratio of 34.06 and a beta of 1.22. Rambus Inc. has a 1-year low of $37.42 and a 1-year high of $76.38.

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.