Rambus, Inc. $RMBS Stock Position Raised by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its stake in Rambus, Inc. (NASDAQ:RMBS) by 5.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 522,226 shares of the semiconductor company’s stock after acquiring an additional 26,773 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Rambus were worth $51,847,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Rambus during the second quarter valued at $126,268,000. EdgePoint Investment Group Inc. boosted its position in shares of Rambus by 138.4% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 2,787,327 shares of the semiconductor company’s stock valued at $178,445,000 after purchasing an additional 1,618,133 shares during the period. Alliancebernstein L.P. increased its stake in Rambus by 572.7% in the 3rd quarter. Alliancebernstein L.P. now owns 1,822,030 shares of the semiconductor company’s stock worth $189,856,000 after purchasing an additional 1,551,159 shares in the last quarter. Bank of America Corp DE raised its holdings in Rambus by 196.0% during the 3rd quarter. Bank of America Corp DE now owns 1,550,665 shares of the semiconductor company’s stock worth $161,579,000 after buying an additional 1,026,776 shares during the period. Finally, Rafferty Asset Management LLC acquired a new stake in Rambus during the 3rd quarter worth about $93,962,000. 88.54% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Rambus

In other Rambus news, CEO Luc Seraphin sold 39,914 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $98.63, for a total value of $3,936,717.82. Following the completion of the sale, the chief executive officer owned 331,070 shares in the company, valued at $32,653,434.10. This represents a 10.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Desmond Lynch sold 4,273 shares of Rambus stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $101.53, for a total transaction of $433,837.69. Following the sale, the chief financial officer directly owned 63,618 shares of the company’s stock, valued at $6,459,135.54. This trade represents a 6.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.75% of the company’s stock.

Rambus Trading Up 4.6%

Shares of Rambus stock opened at $89.95 on Thursday. Rambus, Inc. has a 1 year low of $40.12 and a 1 year high of $135.75. The company has a market cap of $9.73 billion, a P/E ratio of 42.63 and a beta of 1.63. The stock has a 50-day moving average price of $99.45 and a 200 day moving average price of $99.20.

Rambus (NASDAQ:RMBS) last released its earnings results on Monday, February 2nd. The semiconductor company reported $0.68 earnings per share for the quarter, meeting the consensus estimate of $0.68. The company had revenue of $190.24 million for the quarter, compared to analysts’ expectations of $188.21 million. Rambus had a return on equity of 17.69% and a net margin of 32.57%. On average, equities analysts forecast that Rambus, Inc. will post 1.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on RMBS shares. Evercore decreased their target price on shares of Rambus from $126.00 to $119.00 and set an “outperform” rating for the company in a report on Tuesday, February 3rd. Weiss Ratings lowered shares of Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, March 10th. Susquehanna reduced their price target on shares of Rambus from $100.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday, February 3rd. Cfra lowered shares of Rambus from a “hold” rating to a “moderate sell” rating in a research note on Monday, December 15th. Finally, Zacks Research upgraded shares of Rambus to a “hold” rating in a research report on Monday, January 26th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Rambus presently has a consensus rating of “Moderate Buy” and an average price target of $105.71.

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.