Arm Holdings plc (NASDAQ:ARM) Position Increased by Main Street Financial Solutions LLC

Main Street Financial Solutions LLC raised its position in Arm Holdings plc (NASDAQ:ARM) by 4.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,469 shares of the company’s stock after purchasing an additional 310 shares during the quarter. Main Street Financial Solutions LLC’s holdings in ARM were worth $1,068,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. ICICI Prudential Asset Management Co Ltd grew its position in ARM by 25.8% in the third quarter. ICICI Prudential Asset Management Co Ltd now owns 1,633 shares of the company’s stock worth $234,000 after acquiring an additional 335 shares in the last quarter. Oppenheimer & Co. Inc. lifted its stake in shares of ARM by 4.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 60,614 shares of the company’s stock valued at $8,668,000 after purchasing an additional 2,417 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in ARM by 5.1% in the third quarter. Victory Capital Management Inc. now owns 56,421 shares of the company’s stock worth $8,069,000 after purchasing an additional 2,745 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in ARM by 46.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 31,487 shares of the company’s stock worth $4,503,000 after buying an additional 10,047 shares during the last quarter. Finally, Rakuten Securities Inc. raised its holdings in ARM by 61.9% during the third quarter. Rakuten Securities Inc. now owns 63,710 shares of the company’s stock valued at $9,111,000 after buying an additional 24,364 shares in the last quarter. 7.53% of the stock is owned by institutional investors and hedge funds.

ARM Price Performance

Shares of ARM stock opened at $135.09 on Thursday. Arm Holdings plc has a one year low of $52.28 and a one year high of $188.75. The stock has a fifty day moving average price of $142.83 and a 200 day moving average price of $139.15. The stock has a market cap of $141.55 billion, a P/E ratio of 225.15, a price-to-earnings-growth ratio of 6.39 and a beta of 5.40.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. The company had revenue of $844.00 million during the quarter, compared to the consensus estimate 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 last year, the firm earned $0.36 EPS. Equities research analysts anticipate that Arm Holdings plc will post 0.86 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on ARM. Deutsche Bank Aktiengesellschaft upped their price target on ARM from $82.00 to $105.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Sanford C. Bernstein cut ARM from a “market perform” rating to an “underperform” rating and set a $100.00 target price for the company. in a research report on Thursday, October 31st. Morgan Stanley raised shares of ARM from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $107.00 to $190.00 in a research report on Friday, July 19th. JPMorgan Chase & Co. upped their price objective on shares of ARM from $140.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Finally, Susquehanna raised their target price on shares of ARM from $115.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, ARM currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.95.

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.