State of Tennessee Department of Treasury Lowers Position in Rambus Inc. (NASDAQ:RMBS)

State of Tennessee Department of Treasury trimmed its position in shares of Rambus Inc. (NASDAQ:RMBS) by 25.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund 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 reporting period.

Several other hedge funds have also modified their holdings of the company. Lindbrook Capital LLC raised its position in shares of Rambus by 12.3% in the 4th quarter. Lindbrook Capital LLC now owns 1,513 shares of the semiconductor company’s stock valued at $80,000 after purchasing an additional 166 shares during the last quarter. Mariner LLC grew its stake in shares of Rambus by 1.4% during the 4th quarter. Mariner LLC now owns 12,473 shares of the semiconductor company’s stock worth $659,000 after purchasing an additional 167 shares during the period. Hillsdale Investment Management Inc. grew its stake in shares of Rambus by 0.4% during the 4th quarter. Hillsdale Investment Management Inc. now owns 45,400 shares of the semiconductor company’s stock worth $2,400,000 after purchasing an additional 200 shares during the period. Arizona State Retirement System lifted its position in shares of Rambus by 0.7% during the 4th quarter. Arizona State Retirement System now owns 31,237 shares of the semiconductor company’s stock valued at $1,651,000 after buying an additional 202 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV lifted its position in shares of Rambus by 2.8% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 8,925 shares of the semiconductor company’s stock valued at $472,000 after buying an additional 246 shares in the last quarter. 88.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on RMBS. Susquehanna boosted their price target on shares of Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a research report on Tuesday, February 4th. StockNews.com lowered shares of Rambus from a “buy” rating to a “hold” rating in a report on Saturday. Rosenblatt Securities upped their price objective on shares of Rambus from $85.00 to $92.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Wells Fargo & Company increased their target price on shares of Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Finally, Evercore ISI initiated coverage on shares of Rambus in a report on Tuesday, February 4th. They set an “outperform” rating and a $71.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $76.71.

Rambus Stock Performance

NASDAQ RMBS opened at $52.22 on Tuesday. The firm has a market cap of $5.61 billion, a PE ratio of 31.46 and a beta of 1.20. Rambus Inc. has a one year low of $37.43 and a one year high of $69.15. The firm’s fifty day moving average is $52.00 and its two-hundred day moving average is $54.56.

Insider Buying and Selling at Rambus

In related news, CEO Luc Seraphin sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $46.81, for a total value of $468,100.00. Following the completion of the transaction, the chief executive officer now directly owns 336,844 shares of the company’s stock, valued at $15,767,667.64. This trade represents a 2.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Xianzhi Sean Fan sold 52,327 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $68.02, for a total value of $3,559,282.54. Following the completion of the transaction, the chief operating officer now directly owns 93,841 shares of the company’s stock, valued at $6,383,064.82. The trade was a 35.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,300 shares of company stock valued at $6,745,221 in the last ninety days. Insiders own 1.00% of the company’s stock.

Rambus 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.