Arm Holdings plc (NASDAQ:ARM) Stock Position Lifted by Traynor Capital Management Inc.

by · The Cerbat Gem

Traynor Capital Management Inc. raised its holdings in shares of Arm Holdings plc (NASDAQ:ARM – Free Report) by 2,847.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,621 shares of the company’s stock after purchasing an additional 1,566 shares during the period. Traynor Capital Management Inc.’s holdings in ARM were worth $232,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ARM. International Assets Investment Management LLC lifted its holdings in shares of ARM by 14,351.1% in the 3rd quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock worth $1,161,670,000 after purchasing an additional 806,676 shares during the last quarter. Sei Investments Co. increased its position in ARM by 551.6% in the second quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock worth $94,790,000 after buying an additional 490,415 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in ARM by 186.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock valued at $52,279,000 after buying an additional 233,909 shares during the last quarter. Marsico Capital Management LLC acquired a new position in shares of ARM during the second quarter valued at $33,207,000. Finally, Zevenbergen Capital Investments LLC bought a new position in shares of ARM during the first quarter worth about $23,704,000. 7.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ARM. Evercore ISI lifted their price objective on shares of ARM from $145.00 to $173.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Loop Capital lifted their price target on ARM from $120.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Benchmark assumed coverage on ARM in a research report on Monday, September 16th. They set a “hold” rating for the company. HSBC cut ARM from a “hold” rating to a “reduce” rating in a research report on Monday, July 29th. Finally, William Blair began coverage on ARM in a research note on Wednesday, September 18th. They set an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, ARM has an average rating of “Moderate Buy” and a consensus price target of $138.57.

Get Our Latest Stock Report on ARM

ARM Stock Performance

NASDAQ ARM opened at $157.17 on Wednesday. Arm Holdings plc has a 1 year low of $47.12 and a 1 year high of $188.75. The business’s fifty day moving average is $140.09 and its two-hundred day moving average is $136.29. The stock has a market capitalization of $164.69 billion and a P/E ratio of 403.01.

ARM (NASDAQ:ARM – Get Free Report) last announced its earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. ARM had a return on equity of 18.97% and a net margin of 12.12%. The company had revenue of $939.00 million for the quarter, compared to analyst estimates of $905.53 million. During the same period in the previous year, the firm earned $0.24 earnings per share. ARM’s revenue for the quarter was up 39.1% compared to the same quarter last year. On average, research analysts forecast that Arm Holdings plc will post 0.86 earnings per share 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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