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

Allspring Global Investments Holdings LLC raised its stake in Rambus Inc. (NASDAQ:RMBS) by 123.6% during the third quarter, Holdings Channel reports. The fund owned 36,003 shares of the semiconductor company’s stock after buying 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 filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of RMBS. Quarry LP purchased a new position in shares of Rambus during the 2nd quarter valued at $38,000. Fifth Third Bancorp raised its stake in Rambus by 68.7% in the 2nd quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 296 shares during the period. Blue Trust Inc. lifted its holdings in Rambus by 240.6% during the second quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company’s stock valued at $71,000 after purchasing an additional 806 shares during the last quarter. Fidelis Capital Partners LLC purchased a new stake in Rambus during the first quarter valued at about $90,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in Rambus during the second quarter worth about $87,000. 88.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RMBS has been the topic of a number of analyst reports. Susquehanna decreased their price objective on Rambus from $75.00 to $66.00 and set a “positive” rating on the stock in a research note on Friday, July 26th. Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 target price on shares of Rambus in a report on Tuesday.

Rambus Price Performance

RMBS stock opened at $49.89 on Thursday. Rambus Inc. has a 1 year low of $37.42 and a 1 year high of $76.38. The firm has a 50-day moving average of $41.99 and a 200 day moving average of $50.76. The company has a market cap of $5.37 billion, a P/E ratio of 23.87 and a beta of 1.19.

Rambus (NASDAQ:RMBS) last released its earnings results on Monday, July 29th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $139.00 million. During the same quarter in the previous year, the business posted $0.36 earnings per share. Rambus’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, equities research analysts expect that Rambus Inc. will post 1.41 earnings per share for the current fiscal year.

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.