NJ State Employees Deferred Compensation Plan Makes New $211,000 Investment in Rambus Inc. (NASDAQ:RMBS)

NJ State Employees Deferred Compensation Plan purchased a new position in shares of Rambus Inc. (NASDAQ:RMBS) during the fourth quarter, Holdings Channel.com reports. The firm purchased 4,000 shares of the semiconductor company’s stock, valued at approximately $211,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of RMBS. US Bancorp DE lifted its holdings in shares of Rambus by 24.9% in the 4th quarter. US Bancorp DE now owns 11,686 shares of the semiconductor company’s stock worth $618,000 after purchasing an additional 2,327 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Rambus in the 4th quarter worth $978,000. Amalgamated Bank lifted its holdings in shares of Rambus by 0.9% in the 4th quarter. Amalgamated Bank now owns 48,847 shares of the semiconductor company’s stock worth $2,582,000 after purchasing an additional 426 shares in the last quarter. South Dakota Investment Council bought a new position in shares of Rambus in the 4th quarter worth $1,460,000. Finally, New York State Common Retirement Fund lifted its holdings in shares of Rambus by 14.2% in the 4th quarter. New York State Common Retirement Fund now owns 182,460 shares of the semiconductor company’s stock worth $9,645,000 after purchasing an additional 22,660 shares in the last quarter. 88.54% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Rambus news, COO Xianzhi Sean Fan sold 52,327 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $68.02, for a total value of $3,559,282.54. Following the completion of the transaction, the chief operating officer now owns 93,841 shares in the company, valued at $6,383,064.82. This trade represents a 35.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Necip Sayiner sold 4,625 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $66.74, for a total value of $308,672.50. Following the completion of the transaction, the director now owns 42,000 shares of the company’s stock, valued at approximately $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 owned by insiders.

Rambus Stock Performance

Shares of RMBS opened at $52.87 on Tuesday. The business has a 50-day moving average of $59.82 and a 200 day moving average of $52.00. Rambus Inc. has a fifty-two week low of $37.42 and a fifty-two week high of $69.15. The firm has a market cap of $5.65 billion, a P/E ratio of 31.85 and a beta of 1.26.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Wells Fargo & Company increased their target price on Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Rosenblatt Securities increased their price target on Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Robert W. Baird set a $90.00 price target on Rambus in a research report on Monday, February 3rd. Susquehanna increased their price target on Rambus from $66.00 to $70.00 and gave the company a “positive” rating in a research report on Tuesday, February 4th. Finally, Evercore ISI began coverage on Rambus in a research report on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 price target for the company. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Rambus currently has a consensus rating of “Buy” and an average target price of $76.71.

Rambus 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.