State of Alaska Department of Revenue Has $773,000 Position in Rambus, Inc. $RMBS

State of Alaska Department of Revenue cut its holdings in Rambus, Inc. (NASDAQ:RMBS) by 3.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,075 shares of the semiconductor company’s stock after selling 415 shares during the quarter. State of Alaska Department of Revenue’s holdings in Rambus were worth $773,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in RMBS. Price T Rowe Associates Inc. MD lifted its stake in Rambus by 60.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,746,856 shares of the semiconductor company’s stock valued at $452,870,000 after acquiring an additional 3,297,728 shares during the last quarter. EdgePoint Investment Group Inc. acquired a new stake in Rambus in the first quarter valued at approximately $60,535,000. Nuveen LLC acquired a new stake in Rambus in the first quarter valued at approximately $57,084,000. Assenagon Asset Management S.A. lifted its stake in Rambus by 392.9% in the second quarter. Assenagon Asset Management S.A. now owns 881,562 shares of the semiconductor company’s stock valued at $56,438,000 after acquiring an additional 702,704 shares during the last quarter. Finally, Park West Asset Management LLC acquired a new stake in Rambus in the first quarter valued at approximately $30,503,000. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Rambus

In related news, CFO Desmond Lynch sold 9,074 shares of the business’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $91.70, for a total transaction of $832,085.80. Following the transaction, the chief financial officer owned 64,430 shares of the company’s stock, valued at approximately $5,908,231. The trade was a 12.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Meera Rao sold 3,000 shares of the business’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $71.72, for a total transaction of $215,160.00. Following the transaction, the director directly owned 29,914 shares in the company, valued at $2,145,432.08. This trade represents a 9.11% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,913 shares of company stock worth $2,474,452. 1.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Rosenblatt Securities lifted their target price on shares of Rambus from $90.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, September 17th. Susquehanna set a $100.00 price objective on shares of Rambus and gave the stock a “neutral” rating in a research note on Monday. Jefferies Financial Group boosted their price objective on shares of Rambus from $69.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. Arete upgraded shares of Rambus from a “neutral” rating to a “buy” rating and set a $91.00 price objective for the company in a research note on Thursday, August 28th. Finally, Evercore ISI boosted their price objective on shares of Rambus from $81.00 to $114.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $96.63.

Rambus Trading Up 1.0%

Shares of RMBS stock opened at $101.00 on Tuesday. Rambus, Inc. has a 1 year low of $40.12 and a 1 year high of $109.15. The firm’s fifty day simple moving average is $83.48 and its 200 day simple moving average is $65.69. The firm has a market capitalization of $10.87 billion, a P/E ratio of 47.64 and a beta of 1.46.

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.