Allspring Global Investments Holdings LLC Lowers Holdings in Rambus Inc. (NASDAQ:RMBS)

Allspring Global Investments Holdings LLC decreased its holdings in Rambus Inc. (NASDAQ:RMBS - Free Report) by 80.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vaughan Nelson Investment Management L.P. lifted its position in Rambus by 32.3% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,462,932 shares of the semiconductor company's stock valued at $61,765,000 after buying an additional 357,160 shares during the period. SG Americas Securities LLC lifted its position in Rambus by 1,657.4% during the fourth quarter. SG Americas Securities LLC now owns 552,173 shares of the semiconductor company's stock valued at $29,188,000 after buying an additional 520,754 shares during the period. World Investment Advisors LLC purchased a new position in Rambus during the third quarter valued at $989,000. Campbell Newman Asset Management Inc. lifted its position in Rambus by 72.2% during the fourth quarter. Campbell Newman Asset Management Inc. now owns 39,046 shares of the semiconductor company's stock valued at $2,064,000 after buying an additional 16,376 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Rambus during the third quarter valued at $2,077,000. Hedge funds and other institutional investors own 88.54% of the company's stock.

Wall Street Analyst Weigh In

RMBS has been the subject of several recent research reports. Wells Fargo & Company raised their price objective on Rambus from $62.00 to $73.00 and gave the company an "overweight" rating in a research report on Tuesday, February 4th. Baird R W raised Rambus to a "strong-buy" rating in a research report on Monday, November 25th. Robert W. Baird set a $90.00 price target on Rambus in a research report on Monday, February 3rd. Susquehanna lifted their price target on Rambus from $66.00 to $70.00 and gave the stock a "positive" rating in a research report on Tuesday, February 4th. Finally, Evercore ISI assumed coverage on Rambus in a research report on Tuesday, February 4th. They issued an "outperform" rating and a $71.00 price target for the company. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Rambus currently has a consensus rating of "Buy" and an average target price of $76.71.

Insider Buying and Selling at Rambus

In other Rambus news, COO Xianzhi Sean Fan sold 52,327 shares of the business's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $68.02, for a total transaction of $3,559,282.54. Following the completion of the sale, the chief operating officer now directly owns 93,841 shares in the company, valued at $6,383,064.82. The trade was a 35.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Necip Sayiner sold 4,625 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $66.74, for a total value of $308,672.50. Following the sale, the director now owns 42,000 shares of the company's stock, valued at approximately $2,803,080. This represents a 9.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 62,360 shares of company stock worth $4,182,809 in the last three months. 1.00% of the stock is currently owned by company insiders.

Rambus Price Performance

NASDAQ RMBS traded up $1.98 during trading hours on Friday, hitting $55.89. The company's stock had a trading volume of 1,431,301 shares, compared to its average volume of 1,034,628. Rambus Inc. has a 12 month low of $37.42 and a 12 month high of $69.15. The company's 50 day simple moving average is $59.84 and its two-hundred day simple moving average is $51.84. The company has a market cap of $5.96 billion, a P/E ratio of 33.67 and a beta of 1.26.

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.