Intech Investment Management LLC Has $4.17 Million Stock Holdings in Rambus, Inc. $RMBS

Key Points

• Intech Investment Management LLC increased its stake in Rambus, Inc. by 39.2%, owning 80,473 shares worth approximately $4.17 million as of its latest SEC filing.
• Rambus has seen significant interest from institutional investors, with hedge funds and institutions owning 88.54% of the company's stock.
• An analyst downgrade from "buy" to "hold" by Wall Street Zen contrasted with a "strong-buy" rating upgrade by Arete Research, highlighting mixed sentiments about Rambus's stock.

Intech Investment Management LLC boosted its stake in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) by 39.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 80,473 shares of the semiconductor company's stock after purchasing an additional 22,677 shares during the period. Intech Investment Management LLC owned 0.07% of Rambus worth $4,166,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of RMBS. Ameriprise Financial Inc. boosted its position in Rambus by 9.1% during the fourth quarter. Ameriprise Financial Inc. now owns 249,130 shares of the semiconductor company's stock valued at $13,169,000 after purchasing an additional 20,682 shares during the last quarter. Cetera Investment Advisers boosted its position in Rambus by 3.2% during the fourth quarter. Cetera Investment Advisers now owns 24,486 shares of the semiconductor company's stock valued at $1,294,000 after purchasing an additional 757 shares during the last quarter. Deutsche Bank AG boosted its position in Rambus by 40.1% during the fourth quarter. Deutsche Bank AG now owns 139,002 shares of the semiconductor company's stock valued at $7,348,000 after purchasing an additional 39,798 shares during the last quarter. Lazard Asset Management LLC boosted its position in Rambus by 112.3% during the fourth quarter. Lazard Asset Management LLC now owns 69,169 shares of the semiconductor company's stock valued at $3,655,000 after purchasing an additional 36,582 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its position in Rambus by 12.2% during the fourth quarter. Nuveen Asset Management LLC now owns 1,064,700 shares of the semiconductor company's stock valued at $56,280,000 after purchasing an additional 116,079 shares during the last quarter. 88.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on RMBS shares. Jefferies Financial Group increased their price target on Rambus from $69.00 to $75.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Robert W. Baird raised their price objective on Rambus from $90.00 to $120.00 and gave the company an "outperform" rating in a research report on Monday. Arete Research raised Rambus to a "strong-buy" rating in a research report on Thursday, August 28th. Rosenblatt Securities raised their price objective on Rambus from $90.00 to $130.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Evercore ISI raised their price objective on Rambus from $81.00 to $114.00 and gave the company an "outperform" rating in a research report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $93.50.

Insider Transactions at Rambus

In related news, 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 value of $215,160.00. Following the completion of the sale, the director directly owned 29,914 shares in the company, valued at $2,145,432.08. The trade was a 9.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 value of $832,085.80. Following the completion of the sale, the chief financial officer owned 64,430 shares of the company's stock, valued at $5,908,231. This trade represents a 12.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,260 shares of company stock valued at $2,407,852. Company insiders own 1.00% of the company's stock.

Rambus Stock Performance

NASDAQ:RMBS traded up $6.55 during mid-day trading on Thursday, hitting $104.07. 1,376,433 shares of the stock were exchanged, compared to its average volume of 1,152,655. The firm's 50-day simple moving average is $73.74 and its 200 day simple moving average is $61.13. The stock has a market capitalization of $11.20 billion, a price-to-earnings ratio of 49.13 and a beta of 1.38. Rambus, Inc. has a fifty-two week low of $38.15 and a fifty-two week high of $104.39.

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.