NJ State Employees Deferred Compensation Plan Takes Position in Rambus Inc. (NASDAQ:RMBS)

NJ State Employees Deferred Compensation Plan bought a new stake in Rambus Inc. (NASDAQ:RMBS) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,000 shares of the semiconductor company’s stock, valued at approximately $211,000.

A number of other institutional investors also recently modified their holdings of RMBS. Congress Asset Management Co. bought a new stake in Rambus during the fourth quarter worth about $45,778,000. SG Americas Securities LLC lifted its position in Rambus by 1,657.4% during the fourth quarter. SG Americas Securities LLC now owns 552,173 shares of the semiconductor company’s stock worth $29,188,000 after purchasing an additional 520,754 shares during the period. Point72 Hong Kong Ltd bought a new stake in Rambus during the third quarter worth about $18,984,000. Vaughan Nelson Investment Management L.P. lifted its position in Rambus by 32.3% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,462,932 shares of the semiconductor company’s stock worth $61,765,000 after purchasing an additional 357,160 shares during the period. Finally, Westfield Capital Management Co. LP lifted its position in Rambus by 65.3% during the third quarter. Westfield Capital Management Co. LP now owns 902,236 shares of the semiconductor company’s stock worth $38,092,000 after purchasing an additional 356,496 shares during the period. Institutional investors own 88.54% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on RMBS. Rosenblatt Securities boosted their target price on Rambus from $85.00 to $92.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Loop Capital began coverage on Rambus in a research note on Monday, November 11th. They set a “buy” rating and a $70.00 target price for the company. Evercore ISI began coverage on Rambus in a research note on Tuesday, February 4th. They set an “outperform” rating and a $71.00 target price for the company. Robert W. Baird set a $90.00 target price on Rambus in a research note on Monday, February 3rd. Finally, Wells Fargo & Company boosted their target price on Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $76.71.

Insider Buying and Selling at Rambus

In other Rambus news, COO Xianzhi Sean Fan sold 52,327 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $68.02, for a total transaction of $3,559,282.54. Following the completion of the sale, the chief operating officer now owns 93,841 shares of the company’s stock, valued at approximately $6,383,064.82. This represents a 35.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Necip Sayiner sold 4,625 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $66.74, for a total transaction of $308,672.50. Following the sale, the director now directly owns 42,000 shares of the company’s stock, valued at $2,803,080. This represents a 9.92 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 62,360 shares of company stock valued at $4,182,809. 1.00% of the stock is currently owned by company insiders.

Rambus Price Performance

Rambus stock opened at $52.87 on Tuesday. The company has a market capitalization of $5.65 billion, a P/E ratio of 31.85 and a beta of 1.26. The business has a 50 day moving average of $59.82 and a 200-day moving average of $52.00. Rambus Inc. has a 1 year low of $37.42 and a 1 year high of $69.15.

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.