Arm Holdings plc (NASDAQ:ARM) is Renaissance Capital LLC’s 2nd Largest Position

Renaissance Capital LLC boosted its stake in Arm Holdings plc (NASDAQ:ARM) by 7.0% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 105,112 shares of the company’s stock after buying an additional 6,907 shares during the quarter. ARM makes up about 9.9% of Renaissance Capital LLC’s holdings, making the stock its 2nd biggest position. Renaissance Capital LLC’s holdings in ARM were worth $15,032,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ARM. Wellington Management Group LLP lifted its position in shares of ARM by 56.4% during the fourth quarter. Wellington Management Group LLP now owns 4,468,720 shares of the company’s stock worth $335,802,000 after purchasing an additional 1,611,926 shares in the last quarter. Fisher Asset Management LLC acquired a new stake in shares of ARM in the fourth quarter valued at approximately $102,000. B. Riley Wealth Advisors Inc. acquired a new position in ARM during the 4th quarter worth $388,000. PNC Financial Services Group Inc. grew its position in ARM by 47.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,526 shares of the company’s stock valued at $115,000 after buying an additional 494 shares in the last quarter. Finally, HighPoint Advisor Group LLC bought a new position in shares of ARM in the fourth quarter valued at approximately $152,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. William Blair initiated coverage on shares of ARM in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. Raymond James began coverage on shares of ARM in a research note on Friday, September 13th. They issued an “outperform” rating and a $160.00 price objective for the company. Morgan Stanley upgraded ARM from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $107.00 to $190.00 in a report on Friday, July 19th. Citigroup increased their target price on ARM from $150.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Daiwa Capital Markets upgraded shares of ARM from a “neutral” rating to an “outperform” rating and set a $130.00 target price for the company in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $134.91.

ARM Stock Performance

NASDAQ:ARM opened at $150.67 on Wednesday. The business’s fifty day moving average is $134.75 and its 200 day moving average is $134.61. Arm Holdings plc has a 52-week low of $46.50 and a 52-week high of $188.75. The firm has a market cap of $157.88 billion and a price-to-earnings ratio of 386.34.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The firm had revenue of $939.00 million for the quarter, compared to analyst estimates of $905.53 million. ARM had a net margin of 12.12% and a return on equity of 18.97%. The business’s revenue for the quarter was up 39.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.24 EPS. Equities analysts predict that Arm Holdings plc will post 0.86 EPS for the current fiscal year.

ARM Company Profile

Arm Holdings plc architects, develops, and licenses central processing unit products and related technologies for semiconductor companies and original equipment manufacturers rely on to develop products. It offers microprocessors, systems intellectual property (IPs), graphics processing units, physical IP and associated systems IPs, software, tools, and other related services.