Ascent Wealth Partners LLC Acquires New Position in Arm Holdings plc (NASDAQ:ARM)

by · The Markets Daily

Ascent Wealth Partners LLC acquired a new stake in Arm Holdings plc (NASDAQ:ARM – Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 19,733 shares of the company’s stock, valued at approximately $2,822,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. KP Management LLC grew its holdings in shares of ARM by 28.6% during the third quarter. KP Management LLC now owns 45,000 shares of the company’s stock worth $6,435,000 after buying an additional 10,000 shares in the last quarter. Willner & Heller LLC lifted its position in shares of ARM by 193.7% during the third quarter. Willner & Heller LLC now owns 6,799 shares of the company’s stock worth $972,000 after purchasing an additional 4,484 shares in the last quarter. Lazard Asset Management LLC increased its stake in shares of ARM by 393.0% in the first quarter. Lazard Asset Management LLC now owns 25,236 shares of the company’s stock worth $3,154,000 after buying an additional 20,117 shares during the last quarter. United Advisor Group LLC bought a new stake in shares of ARM in the third quarter worth $545,000. Finally, Mizuho Securities Co. Ltd. increased its stake in ARM by 156.3% during the second quarter. Mizuho Securities Co. Ltd. now owns 18,400 shares of the company’s stock valued at $3,011,000 after purchasing an additional 11,220 shares during the last quarter. Institutional investors and hedge funds own 7.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ARM shares. Rosenblatt Securities reissued a “buy” rating and issued a $180.00 price target on shares of ARM in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft upped their price target on shares of ARM from $82.00 to $105.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Evercore ISI upped their price objective on shares of ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a research note on Thursday. Citigroup upped their price objective on shares of ARM from $150.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned 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 an average target price of $140.38.

Get Our Latest Research Report on ARM

ARM Trading Up 2.6 %

ARM stock traded up $3.75 during midday trading on Thursday, hitting $148.43. The stock had a trading volume of 5,115,795 shares, compared to its average volume of 10,890,584. The firm has a market capitalization of $155.53 billion, a price-to-earnings ratio of 374.05, a P/E/G ratio of 6.45 and a beta of 5.40. Arm Holdings plc has a 52 week low of $49.82 and a 52 week high of $188.75. The stock has a 50-day simple moving average of $141.27 and a 200 day simple moving average of $137.49.

ARM (NASDAQ:ARM – Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.04. ARM had a return on equity of 18.97% and a net margin of 12.12%. The firm had revenue of $844.00 million during the quarter, compared to analyst estimates of $810.03 million. During the same period in the prior year, the company posted $0.36 earnings per share. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities analysts forecast that Arm Holdings plc will post 0.86 EPS for the current year.

About ARM

(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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