Allspring Global Investments Holdings LLC Sells 27,621 Shares of Rambus Inc. (NASDAQ:RMBS)

Allspring Global Investments Holdings LLC reduced its position in shares of Rambus Inc. (NASDAQ:RMBS) by 68.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,448 shares of the semiconductor company’s stock after selling 27,621 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Rambus were worth $799,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in RMBS. Hollencrest Capital Management bought a new stake in shares of Rambus in the first quarter valued at approximately $28,000. WealthPLAN Partners LLC bought a new stake in shares of Rambus in the first quarter valued at approximately $31,000. Parallel Advisors LLC grew its stake in Rambus by 106.4% during the first quarter. Parallel Advisors LLC now owns 642 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 331 shares in the last quarter. Orion Capital Management LLC purchased a new position in Rambus during the first quarter valued at approximately $36,000. Finally, FNY Investment Advisers LLC purchased a new position in Rambus during the second quarter valued at approximately $52,000. 86.15% of the stock is owned by institutional investors.

Insider Buying and Selling at Rambus

In other news, COO Xianzhi Sean Fan sold 17,309 shares of Rambus stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $54.99, for a total transaction of $951,821.91. Following the transaction, the chief operating officer now owns 168,223 shares in the company, valued at approximately $9,250,582.77. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Rambus news, COO Xianzhi Sean Fan sold 17,309 shares of Rambus stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $54.99, for a total value of $951,821.91. Following the completion of the transaction, the chief operating officer now directly owns 168,223 shares of the company’s stock, valued at approximately $9,250,582.77. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Emiko Higashi sold 8,000 shares of the business’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $60.00, for a total value of $480,000.00. Following the transaction, the director now directly owns 57,686 shares of the company’s stock, valued at $3,461,160. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,309 shares of company stock worth $2,006,122. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on RMBS shares. Jefferies Financial Group boosted their price objective on shares of Rambus from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, August 1st. Susquehanna upped their price objective on shares of Rambus from $60.00 to $75.00 and gave the company a “positive” rating in a research note on Friday, July 21st. StockNews.com assumed coverage on shares of Rambus in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $73.00 price objective on shares of Rambus in a research note on Tuesday, September 19th. Finally, TheStreet upgraded shares of Rambus from a “c+” rating to a “b+” rating in a report on Monday, July 31st. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Rambus presently has a consensus rating of “Moderate Buy” and an average price target of $64.80.

Rambus Price Performance

NASDAQ:RMBS opened at $59.32 on Friday. Rambus Inc. has a 1-year low of $34.77 and a 1-year high of $68.54. The company has a 50-day moving average of $56.24 and a 200 day moving average of $56.81. The firm has a market cap of $6.38 billion, a PE ratio of 22.73, a price-to-earnings-growth ratio of 2.87 and a beta of 1.23.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings data on Monday, October 30th. The semiconductor company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.41 by $0.52. The firm had revenue of $105.30 million during the quarter, compared to analyst estimates of $131.20 million. Rambus had a net margin of 63.15% and a return on equity of 19.08%. Rambus’s revenue was down 6.1% on a year-over-year basis. During the same period last year, the firm posted $0.40 EPS. Sell-side analysts anticipate that Rambus Inc. will post 1.44 EPS for the current fiscal year.

Rambus Profile

Rambus Inc provides semiconductor products in the United States, Taiwan, South Korea, Japan, Europe, Canada, Singapore, China, and internationally. The company offers DDR memory interface chips, including DDR5 and DDR4 memory interface chips to module manufacturers, and OEMs; silicon IP comprising, interface and security IP solutions that move and protect data in advanced data center, government, and automotive applications; and physical interface and digital controller IP to offer industry-leading, integrated memory, and interconnect subsystems.