KCM Investment Advisors LLC Purchases New Position in Arm Holdings plc (NASDAQ:ARM)

KCM Investment Advisors LLC bought a new stake in shares of Arm Holdings plc (NASDAQ:ARM) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,185 shares of the company’s stock, valued at approximately $312,000.

Several other hedge funds have also made changes to their positions in ARM. ORG Partners LLC bought a new position in shares of ARM during the third quarter valued at approximately $29,000. Transcendent Capital Group LLC bought a new stake in ARM during the 2nd quarter valued at $33,000. Gilliland Jeter Wealth Management LLC increased its holdings in shares of ARM by 83.0% in the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock valued at $37,000 after acquiring an additional 117 shares during the period. RiverPark Advisors LLC increased its holdings in shares of ARM by 45.3% in the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after acquiring an additional 77 shares during the period. Finally, Mather Group LLC. bought a new position in shares of ARM in the 2nd quarter worth $41,000. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

ARM Stock Performance

Shares of NASDAQ ARM opened at $128.73 on Friday. The company has a market capitalization of $134.89 billion, a PE ratio of 214.55, a price-to-earnings-growth ratio of 6.75 and a beta of 5.40. The company’s fifty day moving average price is $143.60 and its 200 day moving average price is $139.55. Arm Holdings plc has a 1 year low of $53.47 and a 1 year high of $188.75.

ARM (NASDAQ:ARM) last posted its earnings results 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 net margin of 18.13% and a return on equity of 13.69%. The business had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. During the same period in the prior year, the company posted $0.36 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities analysts expect that Arm Holdings plc will post 0.79 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ARM. Rosenblatt Securities reiterated a “buy” rating and issued a $180.00 target price on shares of ARM in a research note on Thursday, August 1st. TD Cowen lifted their price objective on shares of ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. The Goldman Sachs Group increased their target price on shares of ARM from $144.00 to $159.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. increased their price objective on ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $147.95.

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.