Victory Capital Management Inc. Takes $8.78 Million Position in Arm Holdings plc (NASDAQ:ARM)

Victory Capital Management Inc. bought a new position in shares of Arm Holdings plc (NASDAQ:ARM) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 53,676 shares of the company’s stock, valued at approximately $8,782,000.

Other hedge funds also recently added to or reduced their stakes in the company. RiverPark Advisors LLC boosted its stake 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 buying an additional 77 shares during the period. BOKF NA grew its holdings in ARM by 33.3% during the 1st quarter. BOKF NA now owns 400 shares of the company’s stock worth $51,000 after acquiring an additional 100 shares in the last quarter. Comerica Bank increased its position in shares of ARM by 6.1% in the 1st quarter. Comerica Bank now owns 1,780 shares of the company’s stock valued at $222,000 after purchasing an additional 103 shares during the last quarter. Naples Money Management LLC lifted its position in shares of ARM by 47.8% during the 1st quarter. Naples Money Management LLC now owns 340 shares of the company’s stock worth $42,000 after purchasing an additional 110 shares during the last quarter. Finally, Schwarz Dygos Wheeler Investment Advisors LLC grew its stake in shares of ARM by 2.9% during the first quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 5,159 shares of the company’s stock worth $645,000 after purchasing an additional 145 shares in the last quarter. 7.53% of the stock is currently owned by institutional investors and hedge funds.

ARM Trading Up 5.9 %

Shares of ARM opened at $147.37 on Monday. The stock’s 50 day moving average is $139.85 and its two-hundred day moving average is $132.81. Arm Holdings plc has a twelve month low of $46.50 and a twelve month high of $188.75. The firm has a market capitalization of $154.42 billion and a PE ratio of 148.06.

ARM (NASDAQ:ARM) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. The firm had revenue of $939.00 million for the quarter, compared to the consensus estimate of $905.53 million. ARM had a return on equity of 18.97% and a net margin of 12.12%. The company’s revenue for the quarter was up 39.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.24 earnings per share. On average, sell-side analysts predict that Arm Holdings plc will post 0.82 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on ARM. Rosenblatt Securities restated a “buy” rating and issued a $180.00 price target on shares of ARM in a research note on Thursday, August 1st. Needham & Company LLC restated a “hold” rating on shares of ARM in a research note on Thursday, August 1st. Bank of America increased their price target on shares of ARM from $150.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, June 17th. TD Cowen upped their target price on shares of ARM from $125.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Morgan Stanley upgraded shares of ARM from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $107.00 to $190.00 in a research note on Friday, July 19th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $123.04.

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.