ARM Holdings PLC Sponsored ADR $ARM Stock Position Cut by Renaissance Capital LLC

Key Points

• Renaissance Capital LLC reduced its stake in ARM Holdings by 11.4%, selling 12,787 shares during the 2nd quarter, although ARM remains their largest holding at 11.2% of their portfolio.
• ARM reported a quarterly earnings per share of $0.35, slightly beating analyst expectations, with revenue of $1.05 billion, which was slightly below expectations.
• Brokerages have expressed a positive outlook on ARM, with Seaport Res Ptn upgrading the stock to a "strong-buy" rating, while various firms adjusted price targets, reflecting a consensus of optimism among analysts.

Renaissance Capital LLC lessened its holdings in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 11.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 99,563 shares of the company's stock after selling 12,787 shares during the quarter. ARM makes up 11.2% of Renaissance Capital LLC's portfolio, making the stock its largest holding. Renaissance Capital LLC's holdings in ARM were worth $16,103,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Chicago Capital LLC boosted its stake in shares of ARM by 0.5% during the 2nd quarter. Chicago Capital LLC now owns 15,732 shares of the company's stock worth $2,544,000 after acquiring an additional 79 shares during the last quarter. Compound Planning Inc. boosted its stake in shares of ARM by 5.5% during the 1st quarter. Compound Planning Inc. now owns 2,305 shares of the company's stock worth $246,000 after acquiring an additional 120 shares during the last quarter. IAM Advisory LLC boosted its stake in shares of ARM by 3.0% during the 2nd quarter. IAM Advisory LLC now owns 4,556 shares of the company's stock worth $737,000 after acquiring an additional 134 shares during the last quarter. Convergence Financial LLC boosted its stake in shares of ARM by 2.0% during the 1st quarter. Convergence Financial LLC now owns 6,991 shares of the company's stock worth $747,000 after acquiring an additional 136 shares during the last quarter. Finally, AdvisorNet Financial Inc boosted its stake in shares of ARM by 5.4% during the 1st quarter. AdvisorNet Financial Inc now owns 2,717 shares of the company's stock worth $290,000 after acquiring an additional 139 shares during the last quarter. Hedge funds and other institutional investors own 7.53% of the company's stock.

ARM Stock Up 0.1%

Shares of ARM stock opened at $139.80 on Tuesday. The stock has a market cap of $147.70 billion, a P/E ratio of 211.82, a PEG ratio of 9.33 and a beta of 4.17. ARM Holdings PLC Sponsored ADR has a 52 week low of $80.00 and a 52 week high of $182.88. The company's fifty day simple moving average is $143.87 and its two-hundred day simple moving average is $133.02.

ARM (NASDAQ:ARM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. The business had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $1.06 billion. ARM had a net margin of 16.96% and a return on equity of 15.56%. The business's quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.40 EPS. On average, analysts anticipate that ARM Holdings PLC Sponsored ADR will post 0.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ARM. Seaport Res Ptn upgraded shares of ARM to a "strong-buy" rating in a research report on Monday, August 11th. KeyCorp restated an "overweight" rating and set a $190.00 price objective (up from $175.00) on shares of ARM in a research report on Thursday, July 31st. UBS Group decreased their price objective on shares of ARM from $185.00 to $175.00 and set a "buy" rating on the stock in a research report on Thursday, July 31st. Needham & Company LLC restated a "hold" rating on shares of ARM in a research report on Thursday, July 31st. Finally, Guggenheim raised their price objective on shares of ARM from $147.00 to $187.00 and gave the company a "buy" rating in a research report on Monday, June 30th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, ARM presently has an average rating of "Moderate Buy" and an average target price of $168.52.

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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