MetLife Investment Management LLC Grows Stake in Rambus Inc. (NASDAQ:RMBS)

MetLife Investment Management LLC boosted its position in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 4.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 122,295 shares of the semiconductor company's stock after purchasing an additional 5,761 shares during the quarter. MetLife Investment Management LLC owned approximately 0.11% of Rambus worth $6,465,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of RMBS. Invesco Ltd. grew its stake in Rambus by 72.1% in the 4th quarter. Invesco Ltd. now owns 4,999,748 shares of the semiconductor company's stock valued at $264,287,000 after acquiring an additional 2,093,953 shares during the last quarter. Norges Bank purchased a new position in shares of Rambus during the 4th quarter worth approximately $94,368,000. Raymond James Financial Inc. acquired a new position in shares of Rambus during the 4th quarter worth approximately $51,500,000. Congress Asset Management Co. purchased a new stake in Rambus in the 4th quarter valued at approximately $45,778,000. Finally, SG Americas Securities LLC grew its holdings in Rambus by 1,657.4% during the 4th quarter. SG Americas Securities LLC now owns 552,173 shares of the semiconductor company's stock valued at $29,188,000 after buying an additional 520,754 shares during the last quarter. Institutional investors and hedge funds own 88.54% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RMBS. Rosenblatt Securities boosted their price target on Rambus from $85.00 to $92.00 and gave the stock a "buy" rating in a report on Tuesday, February 4th. Wells Fargo & Company raised their price target on shares of Rambus from $62.00 to $73.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Evercore ISI began coverage on shares of Rambus in a research note on Tuesday, February 4th. They set an "outperform" rating and a $71.00 price objective on the stock. Robert W. Baird set a $90.00 target price on shares of Rambus in a research note on Monday, February 3rd. Finally, Susquehanna boosted their price target on Rambus from $66.00 to $70.00 and gave the company a "positive" rating in a report on Tuesday, February 4th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $76.71.

Insider Activity at Rambus

In other news, Director Necip Sayiner sold 4,625 shares of the firm's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $66.74, for a total value of $308,672.50. Following the transaction, the director now owns 42,000 shares of the company's stock, valued at approximately $2,803,080. This trade represents a 9.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Luc Seraphin sold 10,000 shares of the company's stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $46.81, for a total transaction of $468,100.00. Following the sale, the chief executive officer now directly owns 336,844 shares of the company's stock, valued at approximately $15,767,667.64. This trade represents a 2.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 106,952 shares of company stock worth $6,447,055. 1.00% of the stock is owned by insiders.

Rambus Stock Up 0.5 %

Shares of NASDAQ RMBS opened at $44.28 on Wednesday. The stock has a market capitalization of $4.76 billion, a PE ratio of 26.67 and a beta of 1.20. The firm has a fifty day moving average of $53.25 and a 200-day moving average of $54.26. Rambus Inc. has a 52-week low of $37.43 and a 52-week high of $69.15.

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.

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