Renaissance Capital LLC Boosts Position in Arm Holdings plc (NASDAQ:ARM)

Renaissance Capital LLC boosted its position in Arm Holdings plc (NASDAQ:ARM) by 7.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 105,112 shares of the company’s stock after buying an additional 6,907 shares during the period. ARM makes up 9.9% of Renaissance Capital LLC’s holdings, making the stock its 2nd biggest holding. Renaissance Capital LLC’s holdings in ARM were worth $15,032,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ARM. Willner & Heller LLC boosted its position in shares of ARM by 193.7% during the third quarter. Willner & Heller LLC now owns 6,799 shares of the company’s stock valued at $972,000 after buying an additional 4,484 shares during the last quarter. Lazard Asset Management LLC boosted its position in ARM by 393.0% during the 1st quarter. Lazard Asset Management LLC now owns 25,236 shares of the company’s stock valued at $3,154,000 after buying an additional 20,117 shares during the period. Mizuho Securities Co. Ltd. raised its holdings in ARM by 156.3% in the 2nd quarter. Mizuho Securities Co. Ltd. now owns 18,400 shares of the company’s stock worth $3,011,000 after purchasing an additional 11,220 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of ARM during the 2nd quarter valued at $4,090,000. Finally, Rheos Capital Works Inc. grew its position in 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 purchasing an additional 83,400 shares during the last quarter. 7.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Daiwa America upgraded ARM from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 8th. Rosenblatt Securities reissued a “buy” rating and set a $180.00 price target on shares of ARM in a research note on Thursday, August 1st. Needham & Company LLC restated a “hold” rating on shares of ARM in a report on Thursday, August 1st. Citigroup increased their price target on shares of ARM from $150.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of ARM from $82.00 to $105.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $134.91.

ARM Price Performance

Shares of NASDAQ ARM opened at $150.67 on Wednesday. The stock’s 50-day moving average is $134.75 and its two-hundred day moving average is $134.61. The company has a market cap of $157.88 billion and a price-to-earnings ratio of 386.34. Arm Holdings plc has a 1-year low of $46.50 and a 1-year high of $188.75.

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

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.