Raymond James Financial Services Advisors Inc. lifted its stake in Arm Holdings plc (NASDAQ:ARM – Free Report) by 57.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 71,295 shares of the company’s stock after purchasing an additional 26,051 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in ARM were worth $11,665,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the stock. International Assets Investment Management LLC purchased a new stake in ARM during the fourth quarter valued at approximately $10,463,000. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of ARM by 27.4% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 37,469 shares of the company’s stock valued at $2,816,000 after acquiring an additional 8,052 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in ARM by 49.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,555 shares of the company’s stock valued at $117,000 after purchasing an additional 514 shares in the last quarter. Bfsg LLC purchased a new position in shares of ARM in the fourth quarter worth $53,000. Finally, Atria Wealth Solutions Inc. acquired a new position in shares of ARM in the 4th quarter valued at $665,000. 7.53% of the stock is currently owned by hedge funds and other institutional investors.
ARM Stock Performance
ARM stock opened at $129.72 on Friday. Arm Holdings plc has a one year low of $46.50 and a one year high of $188.75. The firm has a market cap of $135.93 billion and a PE ratio of 138.77. The firm’s 50 day moving average price is $150.87 and its 200-day moving average price is $131.52.
ARM (NASDAQ:ARM – Get Free Report) last posted its earnings results on Wednesday, July 31st. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. The company had revenue of $939.00 million for the quarter, compared to the consensus estimate of $905.53 million. ARM had a return on equity of 18.97% and a net margin of 12.12%. The company’s revenue for the quarter was up 39.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.24 earnings per share. Equities research analysts predict that Arm Holdings plc will post 0.82 EPS for the current fiscal year.
Analyst Ratings Changes
Several analysts have weighed in on the company. Wells Fargo & Company boosted their price target on ARM from $100.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. Bank of America increased their price target on shares of ARM from $150.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Hsbc Global Res upgraded shares of ARM to a “moderate sell” rating in a research note on Monday, July 29th. Guggenheim boosted their target price on shares of ARM from $110.00 to $169.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Finally, Evercore ISI increased their price target on ARM from $145.00 to $173.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, ARM currently has an average rating of “Moderate Buy” and a consensus price target of $121.56.
Read Our Latest Stock Report on ARM
ARM Profile
(Free Report)
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.
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