Arm Holdings plc (NASDAQ:ARM) Stock Position Boosted by Renaissance Capital LLC

Renaissance Capital LLC boosted its position in shares of Arm Holdings plc (NASDAQ:ARM - Free Report) by 7.0% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 105,112 shares of the company's stock after acquiring an additional 6,907 shares during the quarter. ARM comprises about 9.9% of Renaissance Capital LLC's portfolio, making the stock its 2nd largest position. Renaissance Capital LLC's holdings in ARM were worth $15,032,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ARM. Wellington Management Group LLP raised its stake in shares of ARM by 56.4% during the 4th quarter. Wellington Management Group LLP now owns 4,468,720 shares of the company's stock valued at $335,802,000 after buying an additional 1,611,926 shares during the last quarter. Sei Investments Co. raised its stake in shares of ARM by 551.6% during the 2nd quarter. Sei Investments Co. now owns 579,330 shares of the company's stock valued at $94,790,000 after buying an additional 490,415 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of ARM by 5.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 290,947 shares of the company's stock valued at $36,366,000 after buying an additional 14,584 shares during the last quarter. Rheos Capital Works Inc. raised its stake in shares of ARM by 48.1% during the 1st quarter. Rheos Capital Works Inc. now owns 256,900 shares of the company's stock valued at $32,110,000 after buying an additional 83,400 shares during the last quarter. Finally, Mark Asset Management LP raised its stake in shares of ARM by 14.2% during the 2nd quarter. Mark Asset Management LP now owns 238,589 shares of the company's stock valued at $39,038,000 after buying an additional 29,686 shares during the last quarter. Institutional investors and hedge funds own 7.53% of the company's stock.

ARM Stock Up 1.2 %

NASDAQ:ARM traded up $1.83 during trading hours on Wednesday, reaching $152.50. 5,022,979 shares of the stock were exchanged, compared to its average volume of 11,322,674. Arm Holdings plc has a twelve month low of $46.50 and a twelve month high of $188.75. The business has a 50-day moving average of $135.66 and a two-hundred day moving average of $134.74. The company has a market capitalization of $159.79 billion and a price-to-earnings ratio of 391.04.

ARM (NASDAQ:ARM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.35 by $0.05. ARM had a return on equity of 18.97% and a net margin of 12.12%. The business had revenue of $939.00 million for the quarter, compared to analyst estimates of $905.53 million. During the same quarter in the prior year, the company earned $0.24 earnings per share. The company's revenue was up 39.1% on a year-over-year basis. On average, research analysts forecast that Arm Holdings plc will post 0.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ARM shares. Loop Capital lifted their price objective on ARM from $120.00 to $130.00 and gave the company a "buy" rating in a research note on Tuesday, August 6th. Daiwa America upgraded ARM from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 8th. Citigroup lifted their price target on ARM from $150.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Rosenblatt Securities restated a "buy" rating and issued a $180.00 price target on shares of ARM in a research note on Thursday, August 1st. Finally, HSBC lowered ARM from a "hold" rating to a "reduce" rating in a research note on Monday, July 29th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $134.91.

ARM 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.