Renaissance Technologies LLC Sells 26,400 Shares of Arm Holdings plc (NASDAQ:ARM)

Renaissance Technologies LLC lessened its stake in shares of Arm Holdings plc (NASDAQ:ARM) by 3.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 673,700 shares of the company’s stock after selling 26,400 shares during the period. Renaissance Technologies LLC owned approximately 0.06% of ARM worth $110,231,000 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. Private Advisor Group LLC bought a new position in ARM during the 4th quarter valued at approximately $226,000. Principal Securities Inc. bought a new position in ARM during the 4th quarter valued at approximately $116,000. Janney Montgomery Scott LLC increased its holdings in shares of ARM by 179.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 35,468 shares of the company’s stock worth $2,665,000 after purchasing an additional 22,763 shares in the last quarter. Beacon Pointe Advisors LLC bought a new stake in shares of ARM in the 4th quarter worth $205,000. Finally, O Neil Global Advisors Inc. bought a new stake in shares of ARM in the 4th quarter worth $664,000. Institutional investors own 7.53% of the company’s stock.

Analyst Ratings Changes

ARM has been the subject of a number of research analyst reports. Benchmark initiated coverage on ARM in a report on Monday. They issued a “hold” rating for the company. Daiwa Capital Markets raised ARM from a “neutral” rating to an “outperform” rating and set a $130.00 target price for the company in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lifted their target price on ARM from $82.00 to $105.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Morgan Stanley raised ARM from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $107.00 to $190.00 in a report on Friday, July 19th. Finally, 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. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, ARM presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.04.

ARM Stock Down 6.1 %

Shares of ARM stock opened at $138.40 on Tuesday. The firm has a market cap of $145.02 billion and a price-to-earnings ratio of 148.06. The business has a 50-day moving average price of $138.93 and a 200-day moving average price of $132.79. Arm Holdings plc has a twelve month low of $46.50 and a twelve month high of $188.75.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. The firm had revenue of $939.00 million during the quarter, compared to analyst estimates of $905.53 million. ARM had a return on equity of 18.97% and a net margin of 12.12%. The business’s quarterly revenue was up 39.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.24 earnings per share. On average, equities analysts expect that Arm Holdings plc will post 0.82 EPS 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.