South Dakota Investment Council Buys Shares of 27,613 Rambus Inc. (NASDAQ:RMBS)

South Dakota Investment Council purchased a new stake in shares of Rambus Inc. (NASDAQ:RMBS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 27,613 shares of the semiconductor company’s stock, valued at approximately $1,460,000.

Other institutional investors also recently bought and sold shares of the company. Congress Asset Management Co. acquired a new position in Rambus during the 4th quarter worth $45,778,000. SG Americas Securities LLC lifted its position in shares of Rambus by 1,657.4% during the 4th quarter. SG Americas Securities LLC now owns 552,173 shares of the semiconductor company’s stock worth $29,188,000 after buying an additional 520,754 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Rambus in the 3rd quarter valued at $18,984,000. Vaughan Nelson Investment Management L.P. boosted its position in 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 buying an additional 357,160 shares in the last quarter. Finally, Westfield Capital Management Co. LP grew its position in Rambus by 65.3% during the 3rd quarter. Westfield Capital Management Co. LP now owns 902,236 shares of the semiconductor company’s stock worth $38,092,000 after acquiring an additional 356,496 shares during the last quarter. 88.54% of the stock is currently owned by institutional investors.

Rambus Stock Down 3.4 %

NASDAQ:RMBS opened at $62.73 on Monday. The firm has a market capitalization of $6.69 billion, a PE ratio of 37.79 and a beta of 1.26. The stock’s 50-day simple moving average is $59.69 and its 200 day simple moving average is $51.46. Rambus Inc. has a twelve month low of $37.42 and a twelve month high of $69.15.

Insider Transactions at Rambus

In related news, Director Meera Rao sold 5,408 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $58.22, for a total value of $314,853.76. Following the completion of the transaction, the director now owns 29,090 shares in the company, valued at $1,693,619.80. This trade represents a 15.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Necip Sayiner sold 4,625 shares of Rambus stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $66.74, for a total transaction of $308,672.50. Following the transaction, the director now directly owns 42,000 shares in the company, valued at $2,803,080. This represents a 9.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 62,360 shares of company stock worth $4,182,809. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Robert W. Baird set a $90.00 price target on shares of Rambus in a research note on Monday, February 3rd. Loop Capital began coverage on shares of Rambus in a research report on Monday, November 11th. They issued a “buy” rating and a $70.00 price target on the stock. StockNews.com upgraded Rambus from a “hold” rating to a “buy” rating in a report on Wednesday, February 5th. Wells Fargo & Company lifted their price target on shares of Rambus from $62.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Finally, Evercore ISI initiated coverage on Rambus in a research report on Tuesday, February 4th. They set an “outperform” rating and a $71.00 price objective for the company. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Rambus presently has an average rating of “Buy” and an average target price of $76.71.

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.