MetLife Investment Management LLC Boosts Stock Holdings in Rambus, Inc. $RMBS

Key Points

• MetLife Investment Management LLC increased its holdings in Rambus, Inc. by 194.9%, acquiring additional shares during the 1st quarter to own approximately 0.34% of the company valued at $18.67 million.
• Insiders at Rambus sold a combined 11,533 shares worth approximately $820,188 in the last 90 days, indicating a decrease in their positions in the company.
• Multiple analysts have revised their target prices for Rambus, with Jefferies raising it from $69.00 to $75.00, while the stock presently has a consensus rating of "Buy" and an average price target of $77.71.

MetLife Investment Management LLC increased its holdings in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 194.9% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 360,635 shares of the semiconductor company's stock after purchasing an additional 238,340 shares during the period. MetLife Investment Management LLC owned approximately 0.34% of Rambus worth $18,672,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in RMBS. Penn Capital Management Company LLC lifted its stake in Rambus by 14.9% in the first quarter. Penn Capital Management Company LLC now owns 246,829 shares of the semiconductor company's stock worth $12,813,000 after purchasing an additional 31,966 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Rambus by 16.3% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 5,819 shares of the semiconductor company's stock valued at $301,000 after buying an additional 815 shares during the last quarter. Gould Capital LLC purchased a new position in shares of Rambus in the first quarter worth about $884,000. CW Advisors LLC lifted its stake in shares of Rambus by 51.3% in the 1st quarter. CW Advisors LLC now owns 182,656 shares of the semiconductor company's stock valued at $9,457,000 after acquiring an additional 61,923 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Rambus by 60.5% in the 1st 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. Institutional investors own 88.54% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on RMBS shares. Susquehanna raised their price target on Rambus from $70.00 to $75.00 and gave the stock a "positive" rating in a research report on Tuesday, July 29th. Wall Street Zen cut shares of Rambus from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Arete upgraded shares of Rambus from a "neutral" rating to a "buy" rating and set a $91.00 price target for the company in a report on Thursday. Jefferies Financial Group increased their price target on shares of Rambus from $69.00 to $75.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Finally, Rosenblatt Securities boosted their price objective on shares of Rambus from $80.00 to $90.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $79.38.

Insider Activity

In other Rambus news, Director Necip Sayiner sold 7,500 shares of the business's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $73.53, for a total value of $551,475.00. Following the sale, the director directly owned 38,324 shares of the company's stock, valued at approximately $2,817,963.72. The trade was a 16.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Emiko Higashi sold 1,111 shares of the firm's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $75.00, for a total value of $83,325.00. Following the transaction, the director owned 63,371 shares of the company's stock, valued at $4,752,825. The trade was a 1.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,686 shares of company stock valued at $718,381. 1.00% of the stock is owned by company insiders.

Rambus Stock Performance

Shares of NASDAQ RMBS traded up $6.04 during midday trading on Thursday, hitting $81.09. 2,270,168 shares of the company traded hands, compared to its average volume of 1,063,147. Rambus, Inc. has a 12-month low of $37.42 and a 12-month high of $81.89. The firm has a market cap of $8.72 billion, a P/E ratio of 38.25 and a beta of 1.28. The stock has a 50-day moving average price of $68.84 and a 200 day moving average price of $59.27.

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.