Voya Investment Management LLC Trims Holdings in Rambus, Inc. $RMBS

Key Points

• Voya Investment Management LLC reduced its stake in Rambus, Inc. by 1.4%, owning 1,109,115 shares valued at approximately $57.4 million as of its latest filing.
• Analysts have raised their price targets for Rambus, with Rosenblatt Securities increasing its target from $80 to $90, indicating growing confidence in the company's performance.
• Insider trading activity includes Director Emiko Higashi selling 1,111 shares, reflecting a decrease in personal holdings, while overall, 88.54% of Rambus shares are held by institutional investors.

Voya Investment Management LLC trimmed its holdings in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 1.4% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 1,109,115 shares of the semiconductor company's stock after selling 15,326 shares during the quarter. Voya Investment Management LLC owned about 1.03% of Rambus worth $57,424,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Strs Ohio purchased a new position in Rambus in the 1st quarter worth approximately $1,413,000. Ellsworth Advisors LLC bought a new position in Rambus in the 1st quarter valued at $3,868,000. Acadian Asset Management LLC bought a new position in shares of Rambus during the 1st quarter worth $218,000. Intech Investment Management LLC grew its position in shares of Rambus by 39.2% during the 1st quarter. Intech Investment Management LLC now owns 80,473 shares of the semiconductor company's stock worth $4,166,000 after buying an additional 22,677 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Rambus by 6.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 309,512 shares of the semiconductor company's stock worth $16,025,000 after purchasing an additional 19,120 shares during the last quarter. 88.54% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Rambus

In other news, Director Necip Sayiner sold 7,500 shares of the firm's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $85.63, for a total value of $642,225.00. Following the transaction, the director owned 30,824 shares in the company, valued at $2,639,459.12. This trade represents a 19.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Meera Rao sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $71.72, for a total value of $215,160.00. Following the completion of the transaction, the director owned 29,914 shares in the company, valued at approximately $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 three months, insiders have sold 20,186 shares of company stock valued at $1,575,766. Company insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Arete Research upgraded Rambus to a "strong-buy" rating in a research note on Thursday, August 28th. Rosenblatt Securities increased their price target on Rambus from $80.00 to $90.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Arete upgraded Rambus from a "neutral" rating to a "buy" rating and set a $91.00 price target for the company in a research note on Thursday, August 28th. Susquehanna increased their price target on Rambus from $70.00 to $75.00 and gave the company a "positive" rating in a research note on Tuesday, July 29th. Finally, Wall Street Zen cut Rambus from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the company. Based on data from MarketBeat.com, Rambus has an average rating of "Buy" and an average price target of $83.13.

Rambus Stock Performance

Rambus stock traded up $8.85 during midday trading on Monday, hitting $94.88. 5,402,550 shares of the company were exchanged, compared to its average volume of 1,463,059. The firm has a market capitalization of $10.21 billion, a PE ratio of 44.75 and a beta of 1.38. Rambus, Inc. has a fifty-two week low of $38.01 and a fifty-two week high of $100.73. The business has a fifty day simple moving average of $72.45 and a two-hundred day simple moving average of $60.62.

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.