MetLife Investment Management LLC Decreases Stock Holdings in Rambus Inc. (NASDAQ:RMBS)

MetLife Investment Management LLC lowered its holdings in Rambus Inc. (NASDAQ:RMBS) by 0.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 116,534 shares of the semiconductor company’s stock after selling 1,057 shares during the period. MetLife Investment Management LLC’s holdings in Rambus were worth $4,920,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of RMBS. Assenagon Asset Management S.A. raised its stake in shares of Rambus by 386.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 288,363 shares of the semiconductor company’s stock worth $16,944,000 after purchasing an additional 229,066 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in Rambus by 32.3% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,462,932 shares of the semiconductor company’s stock valued at $61,765,000 after acquiring an additional 357,160 shares during the last quarter. Swedbank AB grew its position in shares of Rambus by 56.1% during the 2nd quarter. Swedbank AB now owns 1,549,850 shares of the semiconductor company’s stock valued at $91,069,000 after acquiring an additional 556,850 shares during the period. Harbor Capital Advisors Inc. increased its stake in shares of Rambus by 559.4% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 18,939 shares of the semiconductor company’s stock worth $1,113,000 after purchasing an additional 16,067 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Rambus in the 3rd quarter worth approximately $2,077,000. Institutional investors own 88.54% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Robert W. Baird initiated coverage on Rambus in a report on Monday, November 25th. They set an “outperform” rating and a $90.00 price objective for the company. Loop Capital began coverage on Rambus in a report on Monday, November 11th. They issued a “buy” rating and a $70.00 price objective for the company. Baird R W upgraded Rambus to a “strong-buy” rating in a research note on Monday, November 25th. Wells Fargo & Company assumed coverage on shares of Rambus in a research report on Wednesday, November 6th. They set an “overweight” rating and a $62.00 target price for the company. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $85.00 target price on shares of Rambus in a research note on Tuesday, October 29th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $74.67.

Rambus Stock Up 1.2 %

RMBS stock opened at $57.81 on Monday. The stock has a 50-day simple moving average of $47.52 and a two-hundred day simple moving average of $50.31. Rambus Inc. has a twelve month low of $37.42 and a twelve month high of $76.38. The firm has a market capitalization of $6.16 billion, a PE ratio of 35.91 and a beta of 1.17.

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.