CHURCHILL MANAGEMENT Corp Invests $2.32 Million in Arm Holdings plc (NASDAQ:ARM)

CHURCHILL MANAGEMENT Corp acquired a new stake in Arm Holdings plc (NASDAQ:ARM) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 18,803 shares of the company’s stock, valued at approximately $2,320,000.

Several other hedge funds have also added to or reduced their stakes in ARM. ORG Partners LLC bought a new position in shares of ARM during the third quarter valued at $29,000. Gilliland Jeter Wealth Management LLC lifted its holdings in ARM by 83.0% during the 3rd 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. Quantbot Technologies LP acquired a new position in ARM during the 3rd quarter worth about $52,000. Farther Finance Advisors LLC increased its stake in shares of ARM by 45.8% in the third quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock valued at $60,000 after buying an additional 131 shares during the period. Finally, First Community Trust NA bought a new position in shares of ARM during the third quarter worth about $70,000. 7.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on ARM shares. Loop Capital increased their target price on shares of ARM from $130.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Susquehanna increased their price objective on shares of ARM from $115.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Barclays upped their price target on shares of ARM from $125.00 to $145.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Sanford C. Bernstein lowered ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price objective for the company. in a research report on Thursday, October 31st. Finally, TD Cowen boosted their price objective on ARM from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $150.64.

ARM Trading Up 5.2 %

Shares of NASDAQ:ARM opened at $147.40 on Thursday. The stock has a market cap of $154.45 billion, a PE ratio of 245.67, a price-to-earnings-growth ratio of 7.15 and a beta of 4.53. The stock’s fifty day simple moving average is $137.34 and its two-hundred day simple moving average is $141.38. Arm Holdings plc has a 1-year low of $66.66 and a 1-year high of $188.75.

ARM (NASDAQ:ARM) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate 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 net margin of 18.13% and a return on equity of 13.69%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.36 earnings per share. On average, sell-side analysts forecast that Arm Holdings plc will post 0.79 earnings per share for the current fiscal 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.