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

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Rambus by 10.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 182,940 shares of the semiconductor company's stock valued at $9,472,000 after buying an additional 17,282 shares in the last quarter. Park West Asset Management LLC purchased a new position in shares of Rambus during the 1st quarter valued at approximately $30,503,000. Sequoia Financial Advisors LLC lifted its position in shares of Rambus by 19.1% during the 1st quarter. Sequoia Financial Advisors LLC now owns 5,041 shares of the semiconductor company's stock valued at $261,000 after buying an additional 808 shares in the last quarter. Blair William & Co. IL purchased a new position in shares of Rambus during the 1st quarter valued at approximately $235,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Rambus by 53.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,602 shares of the semiconductor company's stock valued at $554,000 after buying an additional 3,711 shares in the last quarter. Hedge funds and other institutional investors own 88.54% of the company's stock.

Insider Buying and Selling

In other news, CFO Desmond Lynch sold 9,074 shares of Rambus stock in a transaction on Monday, September 15th. The stock was sold at an average price of $91.70, for a total transaction of $832,085.80. Following the transaction, the chief financial officer owned 64,430 shares in the company, valued at $5,908,231. The trade was a 12.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Emiko Higashi sold 1,111 shares of Rambus stock in a transaction on Monday, August 4th. The stock was 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 in the company, valued at approximately $4,752,825. This represents a 1.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,260 shares of company stock worth $2,407,852 in the last quarter. 1.00% of the stock is currently owned by insiders.

Rambus Trading Up 7.1%

RMBS stock traded up $6.97 during midday trading on Thursday, reaching $104.49. The stock had a trading volume of 1,536,666 shares, compared to its average volume of 1,153,435. The company's fifty day simple moving average is $73.74 and its 200 day simple moving average is $61.13. The company has a market cap of $11.24 billion, a price-to-earnings ratio of 49.33 and a beta of 1.38. Rambus, Inc. has a 52-week low of $38.15 and a 52-week high of $104.41.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RMBS. Arete Research upgraded Rambus to a "strong-buy" rating in a research report on Thursday, August 28th. Arete upgraded Rambus from a "neutral" rating to a "buy" rating and set a $91.00 target price on the stock in a research report on Thursday, August 28th. Rosenblatt Securities increased their target price on Rambus from $90.00 to $130.00 and gave the company a "buy" rating in a research report on Wednesday. Susquehanna raised their price objective on Rambus from $70.00 to $75.00 and gave the company a "positive" rating in a report on Tuesday, July 29th. Finally, Evercore ISI raised their price objective on Rambus from $81.00 to $114.00 and gave the company an "outperform" rating in a report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. According to MarketBeat, Rambus currently has a consensus rating of "Buy" and an average price target of $93.50.

Rambus Company 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.