Holderness Investments Co. Purchases Shares of 1,651 Arm Holdings plc (NASDAQ:ARM)

Holderness Investments Co. acquired a new position in Arm Holdings plc (NASDAQ:ARM) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,651 shares of the company’s stock, valued at approximately $270,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mark Sheptoff Financial Planning LLC bought a new position in ARM in the 1st quarter worth approximately $25,000. Transcendent Capital Group LLC purchased a new position in ARM during the second quarter valued at $33,000. SOA Wealth Advisors LLC. purchased a new position in ARM during the first quarter valued at $35,000. RiverPark Advisors LLC increased its holdings in 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 last quarter. Finally, Mather Group LLC. purchased a new stake in ARM in the 2nd quarter worth $41,000. 7.53% of the stock is currently owned by institutional investors.

ARM Price Performance

Shares of ARM stock opened at $138.90 on Monday. The company’s 50-day simple moving average is $135.56 and its two-hundred day simple moving average is $132.82. Arm Holdings plc has a one year low of $46.50 and a one year high of $188.75. The company has a market capitalization of $145.54 billion and a P/E ratio of 145.57.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $905.53 million. During the same period last year, the business posted $0.24 EPS. ARM’s quarterly revenue was up 39.1% on a year-over-year basis. On average, research analysts expect that Arm Holdings plc will post 0.82 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ARM. Sanford C. Bernstein raised ARM from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $92.00 to $100.00 in a report on Wednesday, August 7th. The Goldman Sachs Group increased their target price on ARM from $110.00 to $143.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Morgan Stanley upgraded shares of ARM from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $107.00 to $190.00 in a research report on Friday, July 19th. Rosenblatt Securities reiterated a “buy” rating and set a $180.00 price objective on shares of ARM in a research report on Thursday, August 1st. Finally, Hsbc Global Res raised shares of ARM to a “moderate sell” rating in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, ARM currently has a consensus rating of “Moderate Buy” and an average price target of $125.96.

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.