Pittenger & Anderson Inc. Boosts Holdings in Arm Holdings plc (NASDAQ:ARM)

Pittenger & Anderson Inc. raised its holdings in Arm Holdings plc (NASDAQ:ARM) by 2,500.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,080 shares of the company’s stock after buying an additional 2,000 shares during the quarter. Pittenger & Anderson Inc.’s holdings in ARM were worth $156,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Jennison Associates LLC grew its holdings in shares of ARM by 15.7% during the 4th quarter. Jennison Associates LLC now owns 7,346,660 shares of the company’s stock worth $552,065,000 after purchasing an additional 994,551 shares during the period. FMR LLC purchased a new stake in shares of ARM during the 3rd quarter worth about $242,812,000. Wellington Management Group LLP purchased a new stake in shares of ARM during the 3rd quarter worth about $152,896,000. Invesco Ltd. purchased a new stake in shares of ARM during the 3rd quarter worth about $143,092,000. Finally, Intel Corp purchased a new stake in shares of ARM during the 3rd quarter worth about $62,965,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

Wall Street Analysts Forecast Growth

ARM has been the topic of several recent research reports. JPMorgan Chase & Co. boosted their price target on ARM from $70.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Evercore ISI initiated coverage on ARM in a research report on Tuesday, April 16th. They set an “outperform” rating and a $156.00 price target on the stock. Mizuho boosted their price target on ARM from $100.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. KeyCorp boosted their price target on ARM from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Finally, The Goldman Sachs Group boosted their price target on ARM from $95.00 to $108.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of 90.28.

ARM Trading Down 2.0 %

Shares of ARM stock traded down 1.95 during trading on Thursday, hitting 97.93. The stock had a trading volume of 6,037,404 shares, compared to its average volume of 14,723,412. Arm Holdings plc has a fifty-two week low of 46.50 and a fifty-two week high of 164.00. The business has a fifty day moving average of 126.31 and a two-hundred day moving average of 87.50.

ARM (NASDAQ:ARM) last announced its earnings results on Wednesday, February 7th. The company reported 0.29 EPS for the quarter, beating the consensus estimate of 0.25 by 0.04. The company had revenue of 824.00 million for the quarter, compared to analysts’ expectations of 762.50 million. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. On average, equities analysts forecast that Arm Holdings plc will post 0.36 EPS for the current fiscal year.

ARM Company 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.