Penserra Capital Management LLC Raises Stake in ARM Holdings PLC Sponsored ADR $ARM

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

Other hedge funds have also made changes to their positions in the company. Schroder Investment Management Group lifted its position in shares of ARM by 41.7% in the 2nd quarter. Schroder Investment Management Group now owns 4,745,957 shares of the company’s stock worth $767,611,000 after purchasing an additional 1,396,684 shares during the period. Sustainable Growth Advisers LP increased its position in shares of ARM by 116.8% during the second quarter. Sustainable Growth Advisers LP now owns 3,457,220 shares of the company’s stock worth $559,171,000 after purchasing an additional 1,862,626 shares in the last quarter. Bank of America Corp DE boosted its position in shares of ARM by 12.8% in the 2nd quarter. Bank of America Corp DE now owns 1,476,743 shares of the company’s stock worth $238,848,000 after purchasing an additional 168,149 shares in the last quarter. Franklin Resources Inc. increased its position in ARM by 27.9% during the 2nd quarter. Franklin Resources Inc. now owns 1,417,829 shares of the company’s stock valued at $229,320,000 after buying an additional 309,698 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in ARM by 139.9% in the second quarter. Invesco Ltd. now owns 1,381,906 shares of the company’s stock worth $223,509,000 after acquiring an additional 805,886 shares in the last quarter. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

ARM Stock Performance

Shares of ARM opened at $104.55 on Wednesday. The business’s 50-day moving average is $118.36 and its two-hundred day moving average is $138.76. The company has a market capitalization of $110.46 billion, a P/E ratio of 134.04, a P/E/G ratio of 6.40 and a beta of 4.35. ARM Holdings PLC Sponsored ADR has a fifty-two week low of $80.00 and a fifty-two week high of $183.16.

ARM (NASDAQ:ARM) last issued its earnings results on Wednesday, November 5th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.06. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.06 billion. ARM had a return on equity of 15.03% and a net margin of 18.81%.The company’s revenue was up 34.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.30 earnings per share. Analysts forecast that ARM Holdings PLC Sponsored ADR will post 0.9 EPS for the current year.

Wall Street Analyst Weigh In

ARM has been the subject of a number of recent analyst reports. Loop Capital lifted their target price on shares of ARM from $155.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. Barclays lifted their price objective on shares of ARM from $115.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. KeyCorp boosted their price objective on shares of ARM from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. TD Cowen restated a “buy” rating on shares of ARM in a research note on Thursday, November 6th. Finally, Citigroup downgraded ARM from a “buy” rating to a “hold” rating in a research note on Tuesday, January 13th. Sixteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $169.52.

ARM Profile

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.