Capital Market Strategies LLC Buys New Shares in Arm Holdings plc (NASDAQ:ARM)

Capital Market Strategies LLC purchased a new position in Arm Holdings plc (NASDAQ:ARM) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 5,624 shares of the company’s stock, valued at approximately $694,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ARM. Hexagon Capital Partners LLC grew its holdings in ARM by 14.0% in the 3rd quarter. Hexagon Capital Partners LLC now owns 627 shares of the company’s stock valued at $90,000 after buying an additional 77 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of ARM by 1.1% in the 3rd quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the company’s stock worth $1,359,000 after buying an additional 100 shares during the last quarter. Hobbs Group Advisors LLC grew its holdings in shares of ARM by 7.4% in the third quarter. Hobbs Group Advisors LLC now owns 1,454 shares of the company’s stock valued at $208,000 after acquiring an additional 100 shares in the last quarter. Great Valley Advisor Group Inc. boosted its position in ARM by 5.5% in the third quarter. Great Valley Advisor Group Inc. now owns 1,963 shares of the company’s stock worth $281,000 after purchasing an additional 102 shares during the last quarter. Finally, Gilliland Jeter Wealth Management LLC raised its position in ARM by 83.0% in the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after acquiring an additional 117 shares during the period. 7.53% of the stock is owned by institutional investors.

ARM Stock Up 4.9 %

NASDAQ:ARM traded up $6.94 during trading hours on Monday, reaching $148.02. 4,026,206 shares of the stock were exchanged, compared to its average volume of 4,963,721. Arm Holdings plc has a 52 week low of $66.66 and a 52 week high of $188.75. The stock has a market capitalization of $155.10 billion, a P/E ratio of 246.70, a P/E/G ratio of 7.15 and a beta of 4.67. The firm has a 50 day simple moving average of $137.80 and a 200-day simple moving average of $142.28.

ARM (NASDAQ:ARM) last released its quarterly earnings data 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. ARM had a net margin of 18.13% and a return on equity of 13.69%. The firm had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. During the same quarter in the prior year, the business earned $0.36 earnings per share. ARM’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, analysts expect that Arm Holdings plc will post 0.79 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ARM shares. The Goldman Sachs Group increased their price objective on ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Evercore ISI upped their price target on ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Needham & Company LLC reissued a “hold” rating on shares of ARM in a report on Thursday, November 7th. JPMorgan Chase & Co. increased their price target on ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Finally, TD Cowen lifted their price target on shares of ARM from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Two equities research 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’s stock. Based on data from MarketBeat.com, ARM has a consensus rating of “Moderate Buy” and a consensus price target of $150.32.

ARM 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.