VIRGINIA RETIREMENT SYSTEMS ET Al Buys New Shares in Rambus, Inc. $RMBS

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Rambus, Inc. (NASDAQ:RMBS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,960 shares of the semiconductor company’s stock, valued at approximately $830,000.

Other institutional investors have also added to or reduced their stakes in the company. Banque Cantonale Vaudoise bought a new position in Rambus in the first quarter valued at $25,000. Tsfg LLC purchased a new stake in Rambus during the first quarter valued at about $26,000. McIlrath & Eck LLC purchased a new stake in Rambus during the first quarter valued at about $42,000. Larson Financial Group LLC boosted its position in Rambus by 1,260.3% during the first quarter. Larson Financial Group LLC now owns 857 shares of the semiconductor company’s stock valued at $44,000 after buying an additional 794 shares during the period. Finally, Brooklyn Investment Group boosted its position in Rambus by 19,360.0% during the first quarter. Brooklyn Investment Group now owns 973 shares of the semiconductor company’s stock valued at $50,000 after buying an additional 968 shares during the period. Institutional investors own 88.54% of the company’s stock.

Rambus Trading Up 7.6%

Rambus stock opened at $101.61 on Friday. The firm has a 50-day moving average of $89.42 and a 200-day moving average of $69.51. The firm has a market cap of $10.93 billion, a P/E ratio of 47.93 and a beta of 1.46. Rambus, Inc. has a 1-year low of $40.12 and a 1-year high of $109.15.

Insider Activity at Rambus

In other Rambus news, CFO Desmond Lynch sold 9,074 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $91.70, for a total value of $832,085.80. Following the completion of the sale, the chief financial officer directly owned 64,430 shares in the company, valued at $5,908,231. This trade represents a 12.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Emiko Higashi sold 1,075 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $77.75, for a total transaction of $83,581.25. Following the completion of the sale, the director owned 62,296 shares of the company’s stock, valued at $4,843,514. This trade represents a 1.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,913 shares of company stock valued at $2,474,452. 1.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on RMBS shares. Jefferies Financial Group upped their price target on shares of Rambus from $69.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Weiss Ratings lowered shares of Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of Rambus from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th. Susquehanna set a $100.00 price target on shares of Rambus and gave the company a “neutral” rating in a research report on Monday, October 6th. Finally, Evercore ISI upped their price target on shares of Rambus from $81.00 to $114.00 and gave the company an “outperform” rating in a research report on Tuesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $96.63.

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.