Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 199 Shares of Rambus Inc. (NASDAQ:RMBS)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its holdings in shares of Rambus Inc. (NASDAQ:RMBS) by 0.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,537 shares of the semiconductor company’s stock after selling 199 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Rambus were worth $1,244,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Empowered Funds LLC purchased a new stake in shares of Rambus during the 3rd quarter valued at $275,000. Great Valley Advisor Group Inc. increased its holdings in Rambus by 4.3% during the third quarter. Great Valley Advisor Group Inc. now owns 8,550 shares of the semiconductor company’s stock worth $361,000 after buying an additional 350 shares during the last quarter. Cerity Partners LLC raised its position in Rambus by 69.5% in the third quarter. Cerity Partners LLC now owns 16,615 shares of the semiconductor company’s stock worth $701,000 after acquiring an additional 6,814 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Rambus in the third quarter worth about $2,077,000. Finally, Qsemble Capital Management LP bought a new position in shares of Rambus during the 3rd quarter valued at approximately $3,163,000. 88.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on RMBS shares. Susquehanna lifted their price target on shares of Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a report on Tuesday, February 4th. Evercore ISI started coverage on Rambus in a research report on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 target price for the company. Robert W. Baird set a $90.00 price target on Rambus in a research report on Monday, February 3rd. StockNews.com lowered Rambus from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Finally, Wells Fargo & Company upped their price objective on shares of Rambus from $62.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $76.71.

Rambus Stock Up 0.1 %

RMBS stock opened at $58.94 on Wednesday. The stock has a 50-day simple moving average of $59.66 and a two-hundred day simple moving average of $53.18. Rambus Inc. has a twelve month low of $37.43 and a twelve month high of $69.15. The firm has a market capitalization of $6.33 billion, a PE ratio of 35.51 and a beta of 1.25.

Insider Activity at Rambus

In related news, Director Necip Sayiner sold 4,625 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $66.74, for a total transaction of $308,672.50. Following the completion of the transaction, the director now directly 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 through this hyperlink. Also, CEO Luc Seraphin sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $53.79, for a total value of $537,900.00. Following the completion of the sale, the chief executive officer now directly owns 316,931 shares in the company, valued at approximately $17,047,718.49. The trade was a 3.06 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,952 shares of company stock valued at $4,405,855. Corporate insiders own 1.00% of the company’s stock.

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.