Teachers Retirement System of The State of Kentucky Acquires 3,775 Shares of Rambus Inc. (NASDAQ:RMBS)

Teachers Retirement System of The State of Kentucky boosted its stake in shares of Rambus Inc. (NASDAQ:RMBS) by 6.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,922 shares of the semiconductor company’s stock after purchasing an additional 3,775 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Rambus were worth $2,699,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of RMBS. Assenagon Asset Management S.A. increased its stake in shares of Rambus by 339.3% during the third quarter. Assenagon Asset Management S.A. now owns 1,266,780 shares of the semiconductor company’s stock worth $53,483,000 after purchasing an additional 978,417 shares during the period. AQR Capital Management LLC increased its position in Rambus by 559.7% during the 2nd quarter. AQR Capital Management LLC now owns 572,930 shares of the semiconductor company’s stock worth $33,133,000 after buying an additional 486,078 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Rambus during the third quarter worth $18,984,000. American Century Companies Inc. boosted its position in shares of Rambus by 63.8% in the second quarter. American Century Companies Inc. now owns 1,053,377 shares of the semiconductor company’s stock valued at $61,897,000 after acquiring an additional 410,332 shares during the period. Finally, Vaughan Nelson Investment Management L.P. boosted its position in shares of Rambus by 32.3% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,462,932 shares of the semiconductor company’s stock valued at $61,765,000 after acquiring an additional 357,160 shares during the period. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Rambus Price Performance

Shares of NASDAQ:RMBS opened at $57.41 on Monday. Rambus Inc. has a 1 year low of $37.42 and a 1 year high of $76.38. The stock has a market capitalization of $6.12 billion, a price-to-earnings ratio of 35.66 and a beta of 1.22. The company’s 50 day simple moving average is $51.12 and its 200 day simple moving average is $50.42.

Insider Buying and Selling at Rambus

In other Rambus news, Director Meera Rao sold 5,408 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $58.22, for a total transaction of $314,853.76. Following the completion of the transaction, the director now owns 29,090 shares of the company’s stock, valued at approximately $1,693,619.80. The trade was a 15.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company 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.