Penserra Capital Management LLC Increases Stock Position in ARM Holdings PLC Sponsored ADR $ARM

Penserra Capital Management LLC boosted its position in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 22.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 270,899 shares of the company’s stock after buying an additional 50,395 shares during the quarter. Penserra Capital Management LLC’s holdings in ARM were worth $38,329,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ARM. Peterson Wealth Services grew its position in shares of ARM by 34,150.0% during the 3rd quarter. Peterson Wealth Services now owns 7,535 shares of the company’s stock valued at $1,066,000 after acquiring an additional 7,513 shares during the period. AGF Management Ltd. purchased a new stake in shares of ARM in the third quarter valued at approximately $340,000. Jones Financial Companies Lllp raised its stake in shares of ARM by 21.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 57,968 shares of the company’s stock worth $8,093,000 after buying an additional 10,083 shares during the period. TFB Advisors LLC grew its stake in ARM by 3.5% in the 3rd quarter. TFB Advisors LLC now owns 3,527 shares of the company’s stock valued at $499,000 after acquiring an additional 118 shares during the period. Finally, Midwest Professional Planners LTD. increased its holdings in ARM by 1.1% in the 3rd quarter. Midwest Professional Planners LTD. now owns 13,845 shares of the company’s stock worth $1,959,000 after acquiring an additional 156 shares in the last quarter. 7.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on ARM. TD Cowen reaffirmed a “buy” rating on shares of ARM in a report on Thursday, November 6th. Bank of America reaffirmed a “neutral” rating and issued a $120.00 price target on shares of ARM in a research note on Tuesday, January 13th. UBS Group cut their price objective on ARM from $195.00 to $175.00 and set a “buy” rating for the company in a research note on Monday, January 26th. Citigroup cut ARM from a “buy” rating to a “hold” rating in a report on Tuesday, January 13th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a research note on Thursday, November 6th. Sixteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, ARM currently has a consensus rating of “Moderate Buy” and an average price target of $169.52.

ARM Stock Performance

NASDAQ ARM opened at $104.55 on Wednesday. ARM Holdings PLC Sponsored ADR has a fifty-two week low of $80.00 and a fifty-two week high of $183.16. The firm has a market capitalization of $110.46 billion, a P/E ratio of 134.04, a price-to-earnings-growth ratio of 6.40 and a beta of 4.35. The stock’s fifty day moving average is $118.36 and its two-hundred day moving average is $138.76.

ARM (NASDAQ:ARM) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.06. ARM had a net margin of 18.81% and a return on equity of 15.03%. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the company posted $0.30 EPS. The company’s revenue was up 34.5% compared to the same quarter last year. As a group, sell-side analysts forecast that ARM Holdings PLC Sponsored ADR will post 0.9 EPS for the current year.

About ARM

Arm Limited (NASDAQ: ARM) is a global semiconductor IP company best known for designing energy-efficient processor architectures and related technologies that underpin a wide range of computing devices. Founded in 1990 as a joint venture between Acorn Computers, Apple and VLSI Technology and headquartered in Cambridge, England, Arm develops the ARM instruction set architectures and core processor designs that chipmakers license and integrate into custom system-on-chip (SoC) products. The company operates a licensing and royalty business model rather than manufacturing chips itself.

Arm’s product portfolio includes CPU core families (such as Cortex and Neoverse lines), GPU and multimedia IP (Mali), neural processing units (Ethos) and a suite of system and physical IP blocks.