California State Teachers Retirement System Raises Holdings in Rambus, Inc. $RMBS

California State Teachers Retirement System boosted its holdings in shares of Rambus, Inc. (NASDAQ:RMBS) by 22.9% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 124,195 shares of the semiconductor company’s stock after acquiring an additional 23,170 shares during the quarter. California State Teachers Retirement System’s holdings in Rambus were worth $10,684,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of RMBS. Invesco Ltd. boosted its position in Rambus by 70.6% during the 4th quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company’s stock valued at $381,220,000 after acquiring an additional 1,716,621 shares in the last quarter. Norges Bank bought a new position in shares of Rambus in the 4th quarter worth $156,356,000. Bank of America Corp DE lifted its stake in shares of Rambus by 196.0% during the 3rd quarter. Bank of America Corp DE now owns 1,550,665 shares of the semiconductor company’s stock worth $161,579,000 after purchasing an additional 1,026,776 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of Rambus by 1,009.5% during the 1st quarter. Bessemer Group Inc. now owns 1,039,905 shares of the semiconductor company’s stock worth $89,463,000 after purchasing an additional 946,177 shares during the last quarter. Finally, EdgePoint Investment Group Inc. boosted its position in Rambus by 38.5% during the first quarter. EdgePoint Investment Group Inc. now owns 1,947,742 shares of the semiconductor company’s stock valued at $167,564,000 after purchasing an additional 541,056 shares in the last quarter. Institutional investors own 88.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Jefferies Financial Group lifted their target price on Rambus from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Rosenblatt Securities reissued a “buy” rating and set a $165.00 price target on shares of Rambus in a research report on Tuesday, July 28th. Robert W. Baird cut shares of Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price target on the stock. in a report on Tuesday, April 28th. Evercore restated an “outperform” rating and issued a $172.00 price target on shares of Rambus in a report on Tuesday, April 28th. Finally, Wells Fargo & Company lifted their price objective on shares of Rambus from $115.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Rambus presently has a consensus rating of “Moderate Buy” and an average price target of $139.78.

Insiders Place Their Bets

In other news, Director Eric B. Stang sold 5,000 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $146.00, for a total transaction of $730,000.00. Following the transaction, the director owned 19,218 shares in the company, valued at $2,805,828. This represents a 20.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Emiko Higashi sold 10,000 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,605,000.00. Following the transaction, the director owned 49,519 shares in the company, valued at approximately $7,947,799.50. This trade represents a 16.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 62,914 shares of company stock worth $9,724,775 in the last three months. Insiders own 0.75% of the company’s stock.

Rambus Price Performance

Shares of RMBS stock opened at $92.21 on Tuesday. The stock’s fifty day moving average price is $123.43 and its 200 day moving average price is $114.25. Rambus, Inc. has a 1-year low of $67.15 and a 1-year high of $174.10. The company has a market cap of $10.00 billion, a price-to-earnings ratio of 42.30 and a beta of 1.88.

About Rambus

Rambus Inc is a technology licensing company specializing in semiconductor and system-level interface solutions. Founded in 1990 by Stanford University researchers Mike Farmwald and Mark Horowitz, Rambus established its headquarters in Sunnyvale, California. The company initially gained prominence by developing high-speed DRAM interface technology and securing a broad patent portfolio covering memory architecture, data signaling and power management innovations.

Today, Rambus licenses its proprietary intellectual property (IP) to semiconductor companies, original equipment manufacturers (OEMs) and system integrators worldwide.