Pittenger & Anderson Inc. Has $156,000 Stake in Arm Holdings plc (NASDAQ:ARM)

Pittenger & Anderson Inc. raised its holdings in Arm Holdings plc (NASDAQ:ARM) by 2,500.0% in the fourth quarter, Holdings Channel reports. The fund owned 2,080 shares of the company’s stock after acquiring an additional 2,000 shares during the period. Pittenger & Anderson Inc.’s holdings in ARM were worth $156,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Jennison Associates LLC grew its stake in ARM by 15.7% in the fourth quarter. Jennison Associates LLC now owns 7,346,660 shares of the company’s stock valued at $552,065,000 after acquiring an additional 994,551 shares during the period. FMR LLC acquired a new position in shares of ARM during the third quarter worth about $242,812,000. Wellington Management Group LLP acquired a new position in shares of ARM during the third quarter worth about $152,896,000. Invesco Ltd. acquired a new position in shares of ARM during the third quarter worth about $143,092,000. Finally, Intel Corp acquired a new position in shares of ARM during the third quarter worth about $62,965,000. 7.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. TD Cowen upped their price objective on ARM from $80.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, February 8th. Mizuho upped their price objective on ARM from $100.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. KeyCorp upped their price objective on ARM from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Susquehanna reissued a “neutral” rating and set a $85.00 price target on shares of ARM in a research report on Thursday, April 4th. Finally, Evercore ISI began coverage on ARM in a research report on Tuesday, April 16th. They set an “outperform” rating and a $156.00 price target for the company. One investment 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. Based on data from MarketBeat, ARM currently has an average rating of “Hold” and a consensus target price of 90.28.

ARM Price Performance

Shares of NASDAQ ARM traded down 1.95 during trading hours on Thursday, reaching 97.93. 6,037,404 shares of the stock were exchanged, compared to its average volume of 14,723,412. Arm Holdings plc has a 52 week low of 46.50 and a 52 week high of 164.00. The stock’s fifty day simple moving average is 126.31 and its 200 day simple moving average is 87.50.

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

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.