Rambus, Inc. $RMBS Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its position in Rambus, Inc. (NASDAQ:RMBS) by 5.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 522,226 shares of the semiconductor company’s stock after purchasing an additional 26,773 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.49% of Rambus worth $51,847,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Norges Bank bought a new position in Rambus in the 2nd quarter worth approximately $126,268,000. EdgePoint Investment Group Inc. raised its stake in Rambus by 138.4% during 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 acquiring an additional 1,618,133 shares in the last quarter. Alliancebernstein L.P. boosted its position in Rambus by 572.7% during the 3rd quarter. Alliancebernstein L.P. now owns 1,822,030 shares of the semiconductor company’s stock worth $189,856,000 after acquiring an additional 1,551,159 shares during the period. Bank of America Corp DE boosted its position 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 acquiring an additional 1,026,776 shares during the period. Finally, Rafferty Asset Management LLC bought a new position in shares of Rambus in the third quarter worth $93,962,000. Institutional investors and hedge funds own 88.54% of the company’s stock.

Rambus Stock Performance

RMBS opened at $89.95 on Thursday. Rambus, Inc. has a one year low of $40.12 and a one year high of $135.75. The stock’s fifty day moving average is $99.45 and its 200-day moving average is $99.20. The company has a market capitalization of $9.73 billion, a PE ratio of 42.63 and a beta of 1.63.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on RMBS shares. Susquehanna lowered their price target on Rambus from $100.00 to $90.00 and set a “neutral” rating on the stock in a report on Tuesday, February 3rd. William Blair began coverage on shares of Rambus in a report on Thursday, January 22nd. They issued an “outperform” rating for the company. Evercore lowered their target price on shares of Rambus from $126.00 to $119.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 3rd. Zacks Research upgraded shares of Rambus to a “hold” rating in a research report on Monday, January 26th. Finally, Cfra lowered shares of Rambus from a “hold” rating to a “moderate sell” rating in a research note on Monday, December 15th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.71.

Insider Activity

In other news, CEO Luc Seraphin sold 39,914 shares of Rambus 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 transaction, the chief executive officer owned 331,070 shares of the company’s stock, valued at $32,653,434.10. The trade was a 10.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Desmond Lynch sold 4,273 shares of Rambus stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $101.53, for a total transaction of $433,837.69. Following the completion of the transaction, the chief financial officer directly owned 63,618 shares in the company, valued at $6,459,135.54. This represents a 6.29% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.75% of the company’s stock.

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.