Private Trust Co. NA Buys 1,776 Shares of Arm Holdings plc (NASDAQ:ARM)

Private Trust Co. NA increased its position in Arm Holdings plc (NASDAQ:ARM) by 5,074.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,811 shares of the company’s stock after purchasing an additional 1,776 shares during the quarter. Private Trust Co. NA’s holdings in ARM were worth $259,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its holdings in ARM by 5.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 290,947 shares of the company’s stock worth $36,366,000 after acquiring an additional 14,584 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of ARM by 203.5% during the first quarter. Tidal Investments LLC now owns 16,649 shares of the company’s stock valued at $2,081,000 after purchasing an additional 11,163 shares in the last quarter. Comerica Bank increased its holdings in ARM by 6.1% during the first quarter. Comerica Bank now owns 1,780 shares of the company’s stock valued at $222,000 after buying an additional 103 shares during the period. Cetera Investment Advisers bought a new position in ARM in the first quarter worth approximately $3,425,000. Finally, Cetera Advisors LLC purchased a new stake in ARM during the first quarter worth $726,000. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

ARM Price Performance

ARM stock opened at $133.37 on Friday. The company has a market capitalization of $139.75 billion, a P/E ratio of 222.28, a price-to-earnings-growth ratio of 6.97 and a beta of 5.40. Arm Holdings plc has a 12 month low of $60.37 and a 12 month high of $188.75. The firm’s fifty day simple moving average is $143.07 and its 200-day simple moving average is $141.21.

ARM (NASDAQ:ARM) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.26 by $0.04. The company had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.36 earnings per share. As a group, sell-side analysts forecast that Arm Holdings plc will post 0.79 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ARM shares. Susquehanna boosted their price target on ARM from $115.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Loop Capital boosted their target price on shares of ARM from $130.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Needham & Company LLC reissued a “hold” rating on shares of ARM in a research report on Thursday, November 7th. Citigroup lifted their price objective on shares of ARM from $150.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Barclays increased their target price 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. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $150.32.

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.