Arm Holdings plc (NASDAQ:ARM) Shares Acquired by D.A. Davidson & CO.

D.A. Davidson & CO. boosted its holdings in Arm Holdings plc (NASDAQ:ARM) by 121.6% during the third quarter, HoldingsChannel reports. The fund owned 9,231 shares of the company’s stock after buying an additional 5,065 shares during the period. D.A. Davidson & CO.’s holdings in ARM were worth $1,320,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. ORG Partners LLC acquired a new position in shares of ARM in the 3rd quarter valued at $29,000. Transcendent Capital Group LLC acquired a new position in ARM in the second quarter valued at about $33,000. Gilliland Jeter Wealth Management LLC boosted its stake 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 buying an additional 117 shares during the period. RiverPark Advisors LLC increased its position in shares of ARM by 45.3% during the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after acquiring an additional 77 shares during the last quarter. Finally, Mather Group LLC. purchased a new stake in shares of ARM in the 2nd quarter valued at approximately $41,000. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ARM has been the subject of several research reports. Daiwa America upgraded shares of ARM from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 8th. William Blair began coverage on ARM in a report on Wednesday, September 18th. They issued an “outperform” rating on the stock. The Goldman Sachs Group raised their target price on ARM from $144.00 to $159.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Raymond James began coverage on shares of ARM in a research note on Friday, September 13th. They set an “outperform” rating and a $160.00 price target on the stock. Finally, TD Cowen raised their price objective on shares of ARM from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, ARM presently has a consensus rating of “Moderate Buy” and an average price target of $150.32.

ARM Trading Up 0.7 %

Shares of ARM stock opened at $134.29 on Friday. The company has a fifty day simple moving average of $142.98 and a 200-day simple moving average of $141.50. Arm Holdings plc has a 12-month low of $60.37 and a 12-month high of $188.75. The stock has a market cap of $140.71 billion, a price-to-earnings ratio of 223.82, a PEG ratio of 6.66 and a beta of 5.40.

ARM (NASDAQ:ARM) last posted its earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. The business had revenue of $844.00 million for the quarter, compared to analysts’ expectations of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.36 earnings per share. On average, analysts forecast that Arm Holdings plc will post 0.79 earnings per share for the current fiscal 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.