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

Allspring Global Investments Holdings LLC cut its stake in Rambus, Inc. (NASDAQ:RMBS) by 87.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,531 shares of the semiconductor company’s stock after selling 455,695 shares during the period. Allspring Global Investments Holdings LLC owned 0.06% of Rambus worth $5,984,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its holdings in Rambus by 2.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,385,570 shares of the semiconductor company’s stock worth $494,881,000 after purchasing an additional 140,226 shares during the period. Invesco Ltd. increased its stake in shares of Rambus by 70.6% during the fourth quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company’s stock valued at $381,220,000 after purchasing an additional 1,716,621 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Rambus by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 2,842,715 shares of the semiconductor company’s stock valued at $261,256,000 after purchasing an additional 94,214 shares during the last quarter. Norges Bank bought a new position in shares of Rambus during the fourth quarter valued at $156,356,000. Finally, Swedbank AB increased its holdings in shares of Rambus by 14.7% during the first quarter. Swedbank AB now owns 1,563,000 shares of the semiconductor company’s stock valued at $134,465,000 after acquiring an additional 200,000 shares in the last quarter. 88.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RMBS. Benchmark started coverage on shares of Rambus in a research note on Wednesday, July 15th. They set a “buy” rating and a $165.00 price objective for the company. Evercore reaffirmed an “outperform” rating and set a $172.00 price target on shares of Rambus in a report on Tuesday, April 28th. Robert W. Baird cut Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price objective on the stock. in a research report on Tuesday, April 28th. Rosenblatt Securities lifted their price target 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, Jefferies Financial Group lifted their target price on shares of Rambus from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $134.75.

Rambus Trading Down 0.6%

Shares of NASDAQ RMBS opened at $103.19 on Friday. The firm has a 50 day moving average of $129.40 and a 200 day moving average of $114.41. The firm has a market capitalization of $11.16 billion, a price-to-earnings ratio of 49.14 and a beta of 1.84. Rambus, Inc. has a 12-month low of $62.81 and a 12-month high of $174.10.

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

Insider Activity

In other Rambus news, Director Eric B. Stang sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $146.00, for a total transaction of $730,000.00. Following the sale, the director owned 19,218 shares in the company, valued at approximately $2,805,828. This trade represents a 20.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Xianzhi Sean Fan sold 37,914 shares of Rambus stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 168,358 shares in the company, valued at $25,538,225.02. This represents a 18.38% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 62,914 shares of company stock valued at $9,724,775. 0.75% of the stock is owned by insiders.

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.