MetLife Investment Management LLC Has $4.92 Million Stake in Rambus Inc. (NASDAQ:RMBS)

MetLife Investment Management LLC reduced its holdings in shares of Rambus Inc. (NASDAQ:RMBS) by 0.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 116,534 shares of the semiconductor company’s stock after selling 1,057 shares during the period. MetLife Investment Management LLC owned 0.11% of Rambus worth $4,920,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in RMBS. Quarry LP acquired a new stake in Rambus during the second quarter worth approximately $38,000. Fifth Third Bancorp grew its position in shares of Rambus by 68.7% during the 2nd quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock worth $43,000 after buying an additional 296 shares during the period. Blue Trust Inc. grew its position in shares of Rambus by 240.6% during the 2nd quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company’s stock worth $71,000 after buying an additional 806 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Rambus in the 2nd quarter valued at $87,000. Finally, GAMMA Investing LLC lifted its position in shares of Rambus by 207.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company’s stock valued at $111,000 after acquiring an additional 1,769 shares during the period. 88.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Rambus Stock Performance

RMBS stock opened at $57.81 on Monday. The business has a 50-day simple moving average of $47.52 and a two-hundred day simple moving average of $50.31. The company has a market capitalization of $6.16 billion, a P/E ratio of 35.91 and a beta of 1.17. Rambus Inc. has a 52-week low of $37.42 and a 52-week high of $76.38.

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.