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 15.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,346,660 shares of the company’s stock after purchasing an additional 994,551 shares during the period. Jennison Associates LLC owned approximately 0.72% of ARM worth $552,065,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ARM. Vontobel Holding Ltd. purchased a new stake in shares of ARM in the 3rd quarter valued at $581,000. SG Americas Securities LLC purchased a new stake in shares of ARM in the 3rd quarter valued at $170,000. Cedar Brook Financial Partners LLC purchased a new stake in shares of ARM in the 3rd quarter valued at $206,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of ARM in the 3rd quarter valued at $114,000. Finally, Rheos Capital Works Inc. acquired a new position in shares of ARM in the 3rd quarter valued at $4,817,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

ARM Trading Up 5.8 %

Shares of NASDAQ ARM traded up 5.04 during midday trading on Monday, hitting 92.23. The company’s stock had a trading volume of 9,272,930 shares, compared to its average volume of 14,840,940. The business’s fifty day simple moving average is 128.44 and its two-hundred day simple moving average is 86.83. Arm Holdings plc has a 1 year low of 46.50 and a 1 year high of 164.00.

ARM (NASDAQ:ARM) last issued its earnings results on Wednesday, February 7th. The company reported 0.29 earnings per share for the quarter, beating the consensus estimate of 0.25 by 0.04. The firm had revenue of 824.00 million during the quarter, compared to analyst estimates of 762.50 million. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. Equities research analysts anticipate that Arm Holdings plc will post 0.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ARM has been the subject of several analyst reports. Mizuho boosted their target price on shares of ARM from $100.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. BNP Paribas cut shares of ARM from an “outperform” rating to a “neutral” rating and set a $100.00 target price for the company. in a research note on Friday. New Street Research restated a “neutral” rating and set a $110.00 price objective on shares of ARM in a research report on Tuesday, February 27th. TD Cowen upped their price objective on shares of ARM from $80.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, February 8th. Finally, Rosenblatt Securities upped their price objective on shares of ARM from $140.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, ARM currently has an average rating of “Hold” and a consensus target price of 90.28.

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.