Renaissance Capital LLC Trims Stock Holdings in ARM Holdings PLC Sponsored ADR $ARM

Renaissance Capital LLC cut its holdings in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 11.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 99,563 shares of the company’s stock after selling 12,787 shares during the period. ARM comprises 11.2% of Renaissance Capital LLC’s holdings, 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.

Other large investors have also recently made changes to their positions in the company. TFC Financial Management Inc. increased its holdings in shares of ARM by 163.4% in the 1st quarter. TFC Financial Management Inc. now owns 266 shares of the company’s stock worth $28,000 after buying an additional 165 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of ARM in the 1st quarter worth about $28,000. N.E.W. Advisory Services LLC bought a new stake in shares of ARM in the 1st quarter worth about $34,000. Oliver Lagore Vanvalin Investment Group bought a new position in ARM during the 2nd quarter valued at about $39,000. Finally, ORG Partners LLC bought a new position in ARM during the 2nd quarter valued at about $48,000. 7.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ARM shares. The Goldman Sachs Group started coverage on shares of ARM in a report on Thursday, July 10th. They set a “neutral” rating and a $160.00 price target on the stock. Mizuho upped their price target on shares of ARM from $160.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, July 3rd. BNP Paribas Exane upgraded shares of ARM from a “neutral” rating to an “outperform” rating and set a $210.00 price target on the stock in a report on Wednesday, July 16th. TD Cowen upped their price target on shares of ARM from $155.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, July 31st. Finally, Guggenheim upped their price target on shares of ARM from $147.00 to $187.00 and gave the company a “buy” rating in a report on Monday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $168.52.

ARM Price Performance

ARM stock opened at $139.80 on Tuesday. The stock has a market cap of $147.70 billion, a price-to-earnings ratio of 211.82, a price-to-earnings-growth ratio of 9.33 and a beta of 4.17. ARM Holdings PLC Sponsored ADR has a 1 year low of $80.00 and a 1 year high of $182.88. The firm has a 50-day moving average of $143.87 and a two-hundred day moving average of $133.02.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. The company had revenue of $1.05 billion during 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 firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.40 EPS. Research analysts expect that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current year.

ARM Company 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.