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

Renaissance Capital LLC boosted its position in Arm Holdings plc (NASDAQ:ARM) by 0.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 105,802 shares of the company’s stock after acquiring an additional 690 shares during the period. ARM accounts for about 8.6% of Renaissance Capital LLC’s holdings, making the stock its 3rd biggest position. Renaissance Capital LLC’s holdings in ARM were worth $13,052,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Modus Advisors LLC lifted its holdings in shares of ARM by 300.2% in the fourth quarter. Modus Advisors LLC now owns 17,935 shares of the company’s stock valued at $2,212,000 after purchasing an additional 13,453 shares in the last quarter. KP Management LLC lifted its stake in ARM by 28.6% during the 3rd quarter. KP Management LLC now owns 45,000 shares of the company’s stock valued at $6,435,000 after acquiring an additional 10,000 shares in the last quarter. XTX Topco Ltd lifted its stake in ARM by 150.1% during the 3rd quarter. XTX Topco Ltd now owns 6,486 shares of the company’s stock valued at $928,000 after acquiring an additional 3,893 shares in the last quarter. Willner & Heller LLC grew its stake in shares of ARM by 193.7% in the 3rd quarter. Willner & Heller LLC now owns 6,799 shares of the company’s stock worth $972,000 after acquiring an additional 4,484 shares in the last quarter. Finally, Avalon Global Asset Management LLC bought a new stake in shares of ARM in the 3rd quarter worth $8,581,000. Institutional investors own 7.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Evercore ISI boosted their price target on shares of ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. The Goldman Sachs Group upped their target price on ARM from $144.00 to $159.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Loop Capital lifted their price target on ARM from $130.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Barclays boosted their price objective on ARM from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Finally, Susquehanna raised their target price on ARM from $118.00 to $140.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $152.09.

ARM Trading Down 2.4 %

ARM stock opened at $155.65 on Tuesday. Arm Holdings plc has a 12 month low of $71.60 and a 12 month high of $188.75. The firm has a market capitalization of $163.09 billion, a P/E ratio of 259.42, a price-to-earnings-growth ratio of 7.46 and a beta of 4.56. The firm has a 50 day moving average of $141.82 and a 200-day moving average of $139.60.

ARM (NASDAQ:ARM) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.04. ARM had a return on equity of 13.69% and a net margin of 18.13%. The firm had revenue of $844.00 million for the quarter, compared to analysts’ expectations of $810.03 million. During the same quarter last year, the firm posted $0.36 EPS. The company’s revenue was up 4.7% compared to the same quarter last year. Sell-side analysts predict that Arm Holdings plc will post 0.84 EPS for the current year.

About ARM

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.