Allspring Global Investments Holdings LLC Cuts Stake in Rambus, Inc. $RMBS

Allspring Global Investments Holdings LLC trimmed its holdings in Rambus, Inc. (NASDAQ:RMBS) by 87.3% in the 1st quarter, HoldingsChannel reports. The firm owned 66,531 shares of the semiconductor company’s stock after selling 455,695 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Rambus were worth $5,984,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of RMBS. M&T Bank Corp increased its stake in shares of Rambus by 2,372.0% in the 4th quarter. M&T Bank Corp now owns 122,636 shares of the semiconductor company’s stock valued at $11,269,000 after acquiring an additional 117,675 shares during the last quarter. AMJ Financial Wealth Management raised its holdings in Rambus by 252.0% in the fourth quarter. AMJ Financial Wealth Management now owns 94,946 shares of the semiconductor company’s stock worth $8,725,000 after purchasing an additional 67,973 shares during the period. Novem Group bought a new position in shares of Rambus during the fourth quarter worth $885,000. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of Rambus by 162.6% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 137,692 shares of the semiconductor company’s stock worth $12,721,000 after purchasing an additional 85,257 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Rambus by 21.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 157,148 shares of the semiconductor company’s stock valued at $14,440,000 after buying an additional 27,472 shares during the period. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Insiders Place Their Bets

In other Rambus news, Director Emiko Higashi sold 10,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $160.50, for a total value of $1,605,000.00. Following the transaction, the director directly owned 49,519 shares in the company, valued at $7,947,799.50. The trade was a 16.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Xianzhi Sean Fan sold 37,914 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $151.69, for a total transaction of $5,751,174.66. Following the completion of the transaction, the executive vice president directly owned 168,358 shares in the company, valued at $25,538,225.02. The trade was a 18.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 62,914 shares of company stock worth $9,724,775. Company insiders own 0.75% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on RMBS shares. Wells Fargo & Company upped their price objective on shares of Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rambus in a report on Friday, June 5th. Benchmark began coverage on shares of Rambus in a research report on Wednesday, July 15th. They issued a “buy” rating and a $165.00 price objective on the stock. Rosenblatt Securities upped their target price on shares of Rambus from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Finally, Evercore reiterated an “outperform” rating and set a $172.00 target price on shares of Rambus in a report on Tuesday, April 28th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $134.75.

Rambus Trading Down 0.6%

NASDAQ RMBS opened at $103.19 on Friday. The firm’s fifty day moving average price is $129.40 and its two-hundred day moving average price is $114.41. Rambus, Inc. has a 1 year low of $62.81 and a 1 year high of $174.10. The firm has a market capitalization of $11.16 billion, a P/E ratio of 49.14 and a beta of 1.84.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. The company had revenue of $180.19 million during the quarter, compared to the consensus estimate of $179.94 million. Rambus had a net margin of 31.90% and a return on equity of 17.41%. On average, research analysts anticipate that Rambus, Inc. will post 2.44 EPS for the current fiscal year.

Rambus 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.