Oregon Public Employees Retirement Fund Sells 200 Shares of Rambus Inc. (NASDAQ:RMBS)

Oregon Public Employees Retirement Fund cut its holdings in Rambus Inc. (NASDAQ:RMBS) by 0.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 21,700 shares of the semiconductor company’s stock after selling 200 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Rambus were worth $1,147,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. State Street Corp grew its holdings in shares of Rambus by 3.5% in the third quarter. State Street Corp now owns 4,819,125 shares of the semiconductor company’s stock valued at $203,463,000 after acquiring an additional 164,830 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Rambus by 0.8% in 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 acquiring an additional 21,053 shares in the last quarter. Swedbank AB grew its holdings in shares of Rambus by 12.5% in the third quarter. Swedbank AB now owns 1,743,000 shares of the semiconductor company’s stock valued at $73,589,000 after acquiring an additional 193,150 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings 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 in the last quarter. Finally, Westfield Capital Management Co. LP lifted its stake in Rambus by 65.3% in the third quarter. Westfield Capital Management Co. LP now owns 902,236 shares of the semiconductor company’s stock valued at $38,092,000 after purchasing an additional 356,496 shares during the last quarter. 88.54% of the stock is owned by institutional investors.

Rambus Price Performance

NASDAQ:RMBS opened at $55.89 on Friday. The company has a market cap of $5.96 billion, a P/E ratio of 33.67 and a beta of 1.26. The stock’s fifty day moving average price is $59.84 and its two-hundred day moving average price is $51.89. Rambus Inc. has a 1 year low of $37.42 and a 1 year high of $69.15.

Insiders Place Their Bets

In related news, Director Meera Rao sold 5,408 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $58.22, for a total value of $314,853.76. Following the sale, the director now owns 29,090 shares in the company, valued at approximately $1,693,619.80. This trade represents a 15.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Xianzhi Sean Fan sold 52,327 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $68.02, for a total value of $3,559,282.54. Following the completion of the sale, the chief operating officer now owns 93,841 shares in the company, valued at $6,383,064.82. This trade represents a 35.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 62,360 shares of company stock worth $4,182,809 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on RMBS. Loop Capital began coverage on Rambus in a research note on Monday, November 11th. They issued a “buy” rating and a $70.00 price objective on the stock. Rosenblatt Securities upped their price objective on Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Evercore ISI began coverage on Rambus in a research note on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 price objective on the stock. Baird R W upgraded Rambus to a “strong-buy” rating in a research note on Monday, November 25th. Finally, Robert W. Baird set a $90.00 price objective on Rambus in a research note on Monday, February 3rd. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Rambus currently has a consensus rating of “Buy” and a consensus target price of $76.71.

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.