Arm Holdings plc (NASDAQ:ARM) Shares Acquired by Renaissance Capital LLC

Renaissance Capital LLC increased its stake in Arm Holdings plc (NASDAQ:ARM - Free Report) by 6.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 112,350 shares of the company's stock after buying an additional 6,548 shares during the quarter. ARM comprises 9.3% of Renaissance Capital LLC's portfolio, making the stock its 3rd largest position. Renaissance Capital LLC's holdings in ARM were worth $11,998,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Spire Wealth Management acquired a new stake in ARM during the 4th quarter valued at approximately $125,000. Jennison Associates LLC grew its stake in ARM by 58.1% during the 4th quarter. Jennison Associates LLC now owns 4,535 shares of the company's stock valued at $559,000 after purchasing an additional 1,666 shares in the last quarter. Silver Oak Securities Incorporated grew its stake in ARM by 578.0% during the 4th quarter. Silver Oak Securities Incorporated now owns 6,319 shares of the company's stock valued at $796,000 after purchasing an additional 5,387 shares in the last quarter. Telligent Fund LP acquired a new stake in ARM during the 4th quarter valued at approximately $3,331,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in ARM by 6.7% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,534 shares of the company's stock valued at $1,916,000 after purchasing an additional 982 shares in the last quarter. Institutional investors and hedge funds own 7.53% of the company's stock.

ARM Trading Up 2.7%

Shares of NASDAQ ARM opened at $133.11 on Friday. The company has a market cap of $141.00 billion, a price-to-earnings ratio of 175.15, a price-to-earnings-growth ratio of 6.33 and a beta of 4.08. Arm Holdings plc has a 12-month low of $80.00 and a 12-month high of $188.75. The stock's 50 day simple moving average is $115.77 and its 200 day simple moving average is $130.53.

ARM (NASDAQ:ARM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.03. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.23 billion. ARM had a return on equity of 11.94% and a net margin of 21.82%. The business's revenue was up 33.7% on a year-over-year basis. During the same quarter last year, the business posted $0.36 EPS. As a group, equities analysts forecast that Arm Holdings plc will post 0.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Barclays lowered their price objective on ARM from $125.00 to $115.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. TD Cowen lowered their price objective on ARM from $200.00 to $155.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. UBS Group lowered their price objective on ARM from $215.00 to $165.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Cfra Research upgraded ARM to a "hold" rating in a research note on Friday, March 21st. Finally, KeyCorp lowered their price objective on ARM from $195.00 to $175.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, ARM has a consensus rating of "Moderate Buy" and an average target price of $152.76.

ARM Profile

Arm Holdings Plc engages in the licensing, marketing, research, and development of microprocessors, systems IP, graphics processing units, physical IP and associated systems IP, software, and tools. It operates through the following geographical segments: United Kingdom, United States, and Other Countries.

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