New York State Teachers Retirement System Sells 10,977 Shares of Rambus Inc. (NASDAQ:RMBS)

New York State Teachers Retirement System cut its holdings in shares of Rambus Inc. (NASDAQ:RMBS) by 13.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 72,870 shares of the semiconductor company’s stock after selling 10,977 shares during the period. New York State Teachers Retirement System owned 0.07% of Rambus worth $4,973,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Mesirow Institutional Investment Management Inc. increased its position in shares of Rambus by 40.9% during the third quarter. Mesirow Institutional Investment Management Inc. now owns 240,656 shares of the semiconductor company’s stock worth $13,426,000 after purchasing an additional 69,895 shares in the last quarter. Diversified Trust Co increased its position in shares of Rambus by 3.1% during the fourth quarter. Diversified Trust Co now owns 21,549 shares of the semiconductor company’s stock worth $1,471,000 after purchasing an additional 643 shares in the last quarter. WCM Investment Management LLC acquired a new position in shares of Rambus during the third quarter worth $9,204,000. Blue Trust Inc. increased its position in shares of Rambus by 100.4% during the fourth quarter. Blue Trust Inc. now owns 447 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 224 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Rambus during the third quarter worth $183,000. 88.54% of the stock is owned by institutional investors and hedge funds.

Rambus Price Performance

Shares of RMBS opened at $60.14 on Friday. The firm has a market capitalization of $6.53 billion, a PE ratio of 20.05 and a beta of 1.16. Rambus Inc. has a 1-year low of $43.58 and a 1-year high of $76.38. The company’s fifty day moving average price is $60.06 and its 200-day moving average price is $62.48.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings results on Monday, February 5th. The semiconductor company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.03. The company had revenue of $136.00 million for the quarter, compared to the consensus estimate of $134.00 million. Rambus had a return on equity of 17.70% and a net margin of 72.41%. As a group, research analysts anticipate that Rambus Inc. will post 1.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rambus news, CFO Desmond Lynch sold 7,837 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $62.18, for a total transaction of $487,304.66. Following the sale, the chief financial officer now directly owns 41,958 shares of the company’s stock, valued at approximately $2,608,948.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Desmond Lynch sold 7,837 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $62.18, for a total transaction of $487,304.66. Following the sale, the chief financial officer now directly owns 41,958 shares in the company, valued at approximately $2,608,948.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Luc Seraphin sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $62.17, for a total value of $932,550.00. Following the sale, the chief executive officer now owns 304,755 shares in the company, valued at $18,946,618.35. The disclosure for this sale can be found here. In the last three months, insiders have sold 115,554 shares of company stock valued at $7,083,908. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company upped their price target on Rambus from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Rosenblatt Securities reissued a “buy” rating and set a $85.00 price objective on shares of Rambus in a report on Wednesday, March 13th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Rambus has an average rating of “Moderate Buy” and a consensus price target of $73.20.

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.