Allspring Global Investments Holdings LLC Acquires 427,297 Shares of Rambus, Inc. $RMBS

Allspring Global Investments Holdings LLC raised its holdings in shares of Rambus, Inc. (NASDAQ:RMBS) by 626.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 495,453 shares of the semiconductor company’s stock after buying an additional 427,297 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Rambus were worth $51,101,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of RMBS. Tealwood Asset Management Inc. increased its holdings in shares of Rambus by 0.7% in the second quarter. Tealwood Asset Management Inc. now owns 20,460 shares of the semiconductor company’s stock worth $1,310,000 after buying an additional 150 shares during the period. Signaturefd LLC grew its position in Rambus by 14.8% during the 2nd quarter. Signaturefd LLC now owns 1,288 shares of the semiconductor company’s stock worth $82,000 after acquiring an additional 166 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Rambus by 19.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,045 shares of the semiconductor company’s stock worth $109,000 after purchasing an additional 167 shares during the period. Dakota Wealth Management lifted its position in Rambus by 3.4% in the second quarter. Dakota Wealth Management now owns 5,681 shares of the semiconductor company’s stock valued at $364,000 after purchasing an additional 189 shares during the last quarter. Finally, Norden Group LLC boosted its stake in shares of Rambus by 2.8% during the third quarter. Norden Group LLC now owns 7,655 shares of the semiconductor company’s stock valued at $798,000 after purchasing an additional 208 shares during the period. 88.54% of the stock is owned by institutional investors.

Insider Transactions at Rambus

In related news, Director Eric B. Stang sold 5,000 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $102.35, for a total value of $511,750.00. Following the completion of the transaction, the director directly owned 24,394 shares of the company’s stock, valued at $2,496,725.90. This represents a 17.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on RMBS shares. Evercore ISI lifted their target price on shares of Rambus from $114.00 to $126.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 28th. Rosenblatt Securities reissued a “buy” rating and set a $130.00 price target on shares of Rambus in a research report on Tuesday, October 28th. Cfra Research cut shares of Rambus from a “hold” rating to a “moderate sell” rating in a research report on Monday, December 15th. Robert W. Baird upped their price objective on shares of Rambus from $90.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, September 15th. Finally, Jefferies Financial Group upgraded shares of Rambus to a “strong-buy” rating in a report on Tuesday, October 28th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Rambus has a consensus rating of “Buy” and an average price target of $108.14.

Rambus Stock Down 3.0%

NASDAQ:RMBS opened at $91.89 on Friday. The firm’s fifty day simple moving average is $98.22 and its 200 day simple moving average is $85.61. The stock has a market cap of $9.89 billion, a P/E ratio of 43.55 and a beta of 1.51. Rambus, Inc. has a twelve month low of $40.12 and a twelve month high of $114.55.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings data on Monday, October 27th. The semiconductor company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.18). Rambus had a return on equity of 17.73% and a net margin of 33.72%.The company had revenue of $178.51 million during the quarter, compared to the consensus estimate of $175.60 million. During the same quarter last year, the company posted $0.45 earnings per share. The firm’s revenue for the quarter was up 22.7% compared to the same quarter last year. On average, analysts expect that Rambus, Inc. will post 1.89 EPS for the current fiscal year.

Rambus Company Profile

Rambus Inc is a technology licensing company specializing in semiconductor and system-level interface solutions. Founded in 1990 by Stanford University researchers Mike Farmwald and Mark Horowitz, Rambus established its headquarters in Sunnyvale, California. The company initially gained prominence by developing high-speed DRAM interface technology and securing a broad patent portfolio covering memory architecture, data signaling and power management innovations.

Today, Rambus licenses its proprietary intellectual property (IP) to semiconductor companies, original equipment manufacturers (OEMs) and system integrators worldwide.