Fisher Asset Management LLC Acquires Shares of 1,359 Arm Holdings plc (NASDAQ:ARM)

Fisher Asset Management LLC bought a new stake in Arm Holdings plc (NASDAQ:ARM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,359 shares of the company’s stock, valued at approximately $102,000.

Other institutional investors have also modified their holdings of the company. Schroder Investment Management Group acquired a new position in ARM during the fourth quarter worth $480,194,000. Wellington Management Group LLP acquired a new position in ARM during the third quarter worth $152,896,000. Mubadala Investment Co PJSC acquired a new position in ARM during the fourth quarter worth $150,437,000. Robeco Schweiz AG grew its holdings in ARM by 220.3% during the fourth quarter. Robeco Schweiz AG now owns 2,130,000 shares of the company’s stock worth $160,059,000 after acquiring an additional 1,465,000 shares during the period. Finally, American Century Companies Inc. acquired a new position in ARM during the third quarter worth $54,800,000. Institutional investors and hedge funds own 7.53% of the company’s stock.

ARM Trading Up 2.6 %

ARM stock opened at 164.72 on Thursday. Arm Holdings plc has a 1 year low of 46.50 and a 1 year high of 177.31. The stock has a 50-day simple moving average of 122.40 and a 200-day simple moving average of 109.50.

ARM (NASDAQ:ARM) last posted its earnings results on Wednesday, May 8th. The company reported 0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of 0.30 by 0.06. ARM had a return on equity of 16.94% and a net margin of 9.46%. The business had revenue of 928.00 million during the quarter, compared to analyst estimates of 865.94 million. During the same quarter last year, the firm earned $0.02 earnings per share. The company’s revenue for the quarter was up 46.6% compared to the same quarter last year. On average, research analysts expect that Arm Holdings plc will post 0.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on ARM shares. BNP Paribas lowered ARM from an “outperform” rating to a “neutral” rating and set a $100.00 target price on the stock. in a report on Friday, April 19th. The Goldman Sachs Group upped their target price on ARM from $110.00 to $143.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. Guggenheim upped their target price on ARM from $110.00 to $169.00 and gave the company a “buy” rating in a report on Tuesday. Wells Fargo & Company upped their target price on ARM from $100.00 to $115.00 and gave the company an “overweight” rating in a report on Monday, April 29th. Finally, Mizuho upped their target price on ARM from $100.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, March 7th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of 103.68.

ARM Company 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.