Jennison Associates LLC Grows Position in Arm Holdings plc (NASDAQ:ARM)

Jennison Associates LLC boosted its stake in shares of Arm Holdings plc (NASDAQ:ARM) by 58.1% during the 4th quarter, Holdings Channel reports. The firm owned 4,535 shares of the company’s stock after acquiring an additional 1,666 shares during the quarter. Jennison Associates LLC’s holdings in ARM were worth $559,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. ORG Partners LLC purchased a new stake in ARM during the 3rd quarter worth approximately $29,000. Gilliland Jeter Wealth Management LLC grew its position in ARM by 83.0% during the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after purchasing an additional 117 shares during the last quarter. Berbice Capital Management LLC purchased a new stake in ARM during the 4th quarter worth approximately $49,000. Quantbot Technologies LP purchased a new stake in ARM during the 3rd quarter worth approximately $52,000. Finally, Farther Finance Advisors LLC grew its position in ARM by 45.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock worth $60,000 after purchasing an additional 131 shares during the last quarter. Hedge funds and other institutional investors own 7.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ARM shares. Raymond James upped their price objective on shares of ARM from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday. Loop Capital upped their price objective on shares of ARM from $130.00 to $180.00 and gave the company a “buy” rating in a report on Monday, November 11th. Citigroup upped their price objective on shares of ARM from $170.00 to $200.00 and gave the company a “buy” rating in a report on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a report on Thursday. Finally, Jefferies Financial Group increased their price target on shares of ARM from $170.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, ARM has a consensus rating of “Moderate Buy” and a consensus target price of $162.17.

ARM Stock Down 3.0 %

Shares of NASDAQ ARM opened at $162.51 on Friday. The firm has a 50-day simple moving average of $144.13 and a 200-day simple moving average of $140.00. The stock has a market capitalization of $170.28 billion, a price-to-earnings ratio of 270.85, a price-to-earnings-growth ratio of 7.46 and a beta of 4.56. Arm Holdings plc has a 52 week low of $85.61 and a 52 week high of $188.75.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.04. ARM had a net margin of 18.13% and a return on equity of 13.69%. The firm had revenue of $844.00 million during the quarter, compared to analysts’ expectations of $810.03 million. During the same period last year, the business earned $0.36 earnings per share. ARM’s revenue was up 4.7% compared to the same quarter last year. As a group, equities research analysts expect 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.