Jennison Associates LLC Has $410,000 Stock Holdings in Arm Holdings plc (NASDAQ:ARM)

Jennison Associates LLC trimmed its position in Arm Holdings plc (NASDAQ:ARM) by 79.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,869 shares of the company’s stock after selling 10,835 shares during the quarter. Jennison Associates LLC’s holdings in ARM were worth $410,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of ARM. ORG Partners LLC acquired a new stake in ARM in the 3rd quarter valued at approximately $29,000. Transcendent Capital Group LLC acquired a new stake in shares of ARM in the second quarter worth $33,000. Gilliland Jeter Wealth Management LLC increased its position in ARM by 83.0% during the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after acquiring an additional 117 shares during the period. RiverPark Advisors LLC increased its position in ARM by 45.3% during the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after acquiring an additional 77 shares during the period. Finally, Mather Group LLC. acquired a new position in ARM during the 2nd quarter valued at $41,000. 7.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. William Blair began coverage on shares of ARM in a report on Wednesday, September 18th. They set an “outperform” rating on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on ARM from $82.00 to $105.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Wells Fargo & Company began coverage on ARM in a report on Friday. They set an “overweight” rating and a $155.00 price objective on the stock. Rosenblatt Securities restated a “buy” rating and set a $180.00 price objective on shares of ARM in a research report on Thursday, August 1st. Finally, The Goldman Sachs Group raised their price objective on shares of ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $149.86.

ARM Price Performance

Shares of NASDAQ:ARM opened at $135.99 on Monday. The stock has a market cap of $142.50 billion, a price-to-earnings ratio of 226.65, a P/E/G ratio of 6.65 and a beta of 5.40. The company has a 50 day moving average of $143.30 and a 200-day moving average of $140.87. Arm Holdings plc has a one year low of $60.37 and a one year high of $188.75.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.04. ARM had a return on equity of 13.69% and a net margin of 18.13%. The firm had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. During the same quarter in the prior year, the firm posted $0.36 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Equities research analysts anticipate that Arm Holdings plc will post 0.79 earnings per share for the current 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.