Allspring Global Investments Holdings LLC Has $369,000 Position in Rambus Inc. (NASDAQ:RMBS)

Allspring Global Investments Holdings LLC lowered its position in shares of Rambus Inc. (NASDAQ:RMBS) by 80.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,891 shares of the semiconductor company’s stock after selling 29,112 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Rambus were worth $369,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. UMB Bank n.a. lifted its stake in shares of Rambus by 554.9% during the fourth quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 455 shares during the period. Quarry LP lifted its position in Rambus by 40.3% during the 3rd quarter. Quarry LP now owns 919 shares of the semiconductor company’s stock worth $39,000 after buying an additional 264 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Rambus by 19.6% during the 4th quarter. GAMMA Investing LLC now owns 3,137 shares of the semiconductor company’s stock worth $166,000 after purchasing an additional 514 shares during the last quarter. Moody National Bank Trust Division acquired a new stake in Rambus in the fourth quarter valued at $203,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Rambus by 448.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,968 shares of the semiconductor company’s stock valued at $215,000 after buying an additional 3,245 shares during the last quarter. 88.54% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Rambus

In other news, Director Meera Rao sold 5,408 shares of Rambus stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $58.22, for a total value of $314,853.76. Following the completion of the transaction, the director now owns 29,090 shares in the company, valued at $1,693,619.80. This trade represents a 15.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Xianzhi Sean Fan sold 52,327 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $68.02, for a total value of $3,559,282.54. Following the sale, the chief operating officer now owns 93,841 shares in the company, valued at approximately $6,383,064.82. This represents a 35.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 62,360 shares of company stock valued at $4,182,809 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on RMBS. Rosenblatt Securities lifted their price target on Rambus from $85.00 to $92.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Baird R W upgraded Rambus to a “strong-buy” rating in a research note on Monday, November 25th. Evercore ISI initiated coverage on shares of Rambus in a research note on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 price objective on the stock. Loop Capital began coverage on shares of Rambus in a research report on Monday, November 11th. They set a “buy” rating and a $70.00 price objective for the company. Finally, Susquehanna boosted their target price on shares of Rambus from $66.00 to $70.00 and gave the company a “positive” rating in a research report on Tuesday, February 4th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Rambus presently has an average rating of “Buy” and an average target price of $76.71.

Rambus Trading Down 4.5 %

Shares of Rambus stock opened at $57.43 on Wednesday. Rambus Inc. has a 12-month low of $37.42 and a 12-month high of $69.15. The company has a market capitalization of $6.12 billion, a P/E ratio of 34.60 and a beta of 1.26. The stock has a fifty day simple moving average of $59.71 and a 200 day simple moving average of $51.58.

Rambus Profile

Rambus Inc provides semiconductor products in the United States, South Korea, Singapore, and internationally. The company offers DDR memory interface chips, including DDR5 and DDR4 memory interface chips to module manufacturers, OEMs, and hyperscalers; silicon IP, such as interface and security IP solutions that move and protect data in advanced data center, government, and automotive applications; and interface IP solutions for high-speed memory and chip-to-chip digital controller IP.