Allspring Global Investments Holdings LLC Purchases 19,903 Shares of Rambus Inc. (NASDAQ:RMBS)

Allspring Global Investments Holdings LLC increased its stake in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 123.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,003 shares of the semiconductor company's stock after purchasing an additional 19,903 shares during the period. Allspring Global Investments Holdings LLC's holdings in Rambus were worth $1,520,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in RMBS. Vanguard Group Inc. raised its holdings in shares of Rambus by 2.4% during the first quarter. Vanguard Group Inc. now owns 11,651,114 shares of the semiconductor company's stock worth $720,155,000 after acquiring an additional 275,160 shares during the period. Hood River Capital Management LLC raised its stake in shares of Rambus by 5.7% in the 2nd quarter. Hood River Capital Management LLC now owns 2,165,548 shares of the semiconductor company's stock valued at $127,248,000 after purchasing an additional 116,976 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Rambus by 9.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,798,485 shares of the semiconductor company's stock valued at $105,673,000 after purchasing an additional 158,259 shares during the period. Swedbank AB raised its stake in shares of Rambus by 12.5% in the 3rd quarter. Swedbank AB now owns 1,743,000 shares of the semiconductor company's stock valued at $73,589,000 after purchasing an additional 193,150 shares during the period. Finally, Captrust Financial Advisors raised its stake in shares of Rambus by 16.3% in the 1st quarter. Captrust Financial Advisors now owns 1,258,976 shares of the semiconductor company's stock valued at $77,817,000 after purchasing an additional 176,103 shares during the period. Institutional investors and hedge funds own 88.54% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Rosenblatt Securities reissued a "buy" rating and issued a $85.00 price target on shares of Rambus in a research note on Tuesday. Susquehanna cut their price objective on Rambus from $75.00 to $66.00 and set a "positive" rating for the company in a report on Friday, July 26th.

Rambus Stock Performance

Shares of NASDAQ RMBS traded down $2.07 during midday trading on Thursday, reaching $47.82. The stock had a trading volume of 1,359,962 shares, compared to its average volume of 1,576,247. The firm has a market cap of $5.15 billion, a price-to-earnings ratio of 29.70 and a beta of 1.19. Rambus Inc. has a twelve month low of $37.42 and a twelve month high of $76.38. The company's 50 day moving average price is $42.03 and its 200 day moving average price is $50.74.

Rambus (NASDAQ:RMBS - Get Free Report) last announced its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.12). Rambus had a net margin of 48.31% and a return on equity of 16.74%. The business had revenue of $132.10 million for the quarter, compared to the consensus estimate of $139.00 million. During the same quarter last year, the firm posted $0.36 EPS. The business's revenue for the quarter was up 10.3% compared to the same quarter last year. Equities analysts forecast that Rambus Inc. will post 1.41 earnings per share for the current fiscal year.

Rambus Company 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.