Allspring Global Investments Holdings LLC Has $309,000 Stock Holdings in Rambus Inc. (NASDAQ:RMBS)

Allspring Global Investments Holdings LLC raised its holdings in Rambus Inc. (NASDAQ:RMBS – Get Rating) by 104.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,158 shares of the semiconductor company’s stock after purchasing an additional 6,218 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Rambus were worth $309,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Neo Ivy Capital Management bought a new position in Rambus during the 2nd quarter worth $52,000. CWM LLC raised its position in shares of Rambus by 268.3% in the 2nd quarter. CWM LLC now owns 2,552 shares of the semiconductor company’s stock worth $55,000 after acquiring an additional 1,859 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Rambus by 19.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,322 shares of the semiconductor company’s stock valued at $114,000 after buying an additional 885 shares during the period. Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of Rambus in the 3rd quarter valued at about $114,000. Finally, Point72 Hong Kong Ltd acquired a new position in Rambus during the 2nd quarter valued at about $118,000. Institutional investors and hedge funds own 85.99% of the company’s stock.

Insider Activity

In other Rambus news, Director Eric B. Stang sold 7,500 shares of Rambus stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $34.25, for a total value of $256,875.00. Following the sale, the director now directly owns 33,180 shares in the company, valued at approximately $1,136,415. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Rambus news, Director Eric B. Stang sold 7,500 shares of Rambus stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $34.25, for a total value of $256,875.00. Following the sale, the director now directly owns 33,180 shares in the company, valued at approximately $1,136,415. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Necip Sayiner sold 15,000 shares of Rambus stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $38.16, for a total transaction of $572,400.00. Following the completion of the sale, the director now owns 27,873 shares in the company, valued at $1,063,633.68. The disclosure for this sale can be found here. Insiders have sold 127,124 shares of company stock worth $4,825,048 in the last three months. Company insiders own 1.53% of the company’s stock.

Wall Street Analysts Forecast Growth

RMBS has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their target price on Rambus from $42.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 18th. Susquehanna Bancshares upped their price target on shares of Rambus from $33.00 to $36.00 and gave the stock a “positive” rating in a report on Tuesday, November 1st. Rosenblatt Securities upped their price target on shares of Rambus from $38.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, November 1st. TheStreet lowered shares of Rambus from a “b-” rating to a “c+” rating in a research report on Wednesday, December 28th. Finally, Susquehanna upped their price target on shares of Rambus from $33.00 to $36.00 and gave the company a “positive” rating in a research report on Tuesday, November 1st. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $38.17.

Rambus Trading Down 0.1 %

Shares of RMBS stock opened at $42.80 on Wednesday. Rambus Inc. has a 12-month low of $20.00 and a 12-month high of $43.37. The firm’s 50 day moving average is $37.72 and its 200 day moving average is $30.87. The stock has a market capitalization of $4.60 billion, a P/E ratio of -186.08 and a beta of 1.24.

Rambus (NASDAQ:RMBS – Get Rating) last announced its quarterly earnings data on Monday, October 31st. The semiconductor company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.35 by $0.05. The firm had revenue of $112.20 million for the quarter, compared to the consensus estimate of $141.00 million. Rambus had a negative net margin of 5.69% and a positive return on equity of 20.24%. The company’s revenue was up 38.0% on a year-over-year basis. During the same period last year, the firm earned $0.29 EPS. As a group, equities analysts predict that Rambus Inc. will post 1.52 earnings per share for the current year.

About Rambus

(Get Rating)

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, DDR4 and DDR3 memory interface chips to module manufacturers, and OEMs; silicon IP comprising, interface and security IP solutions that move and protect data in advanced applications; and physical interface and digital controller IP to offer industry-leading, integrated memory, and interconnect subsystems.