Alight Capital Management LP Takes $6.55 Million Position in Arm Holdings plc (NASDAQ:ARM)

Alight Capital Management LP bought a new position in shares of Arm Holdings plc (NASDAQ:ARM) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 40,000 shares of the company’s stock, valued at approximately $6,545,000. ARM accounts for approximately 1.6% of Alight Capital Management LP’s holdings, making the stock its 19th biggest position.

Several other institutional investors have also bought and sold shares of the stock. Point72 Hong Kong Ltd bought a new position in ARM during the 2nd quarter valued at about $573,000. Savoie Capital LLC acquired a new stake in shares of ARM during the second quarter worth approximately $605,000. Westwood Wealth Management bought a new position in shares of ARM in the second quarter valued at approximately $3,874,000. Bank of Montreal Can acquired a new position in shares of ARM in the 2nd quarter worth approximately $5,684,000. Finally, Beck Capital Management LLC bought a new stake in ARM during the 2nd quarter worth approximately $645,000. Institutional investors and hedge funds own 7.53% of the company’s stock.

ARM Stock Up 1.1 %

Shares of NASDAQ ARM opened at $143.30 on Wednesday. Arm Holdings plc has a twelve month low of $46.50 and a twelve month high of $188.75. The stock has a market cap of $150.15 billion and a price-to-earnings ratio of 150.77. The company’s fifty day moving average is $134.84 and its 200-day moving average is $132.83.

ARM (NASDAQ:ARM) last posted its earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share 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 firm had revenue of $939.00 million for the quarter, compared to analyst estimates of $905.53 million. During the same period in the previous year, the company posted $0.24 earnings per share. The company’s revenue for the quarter was up 39.1% on a year-over-year basis. On average, research analysts anticipate that Arm Holdings plc will post 0.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ARM shares. Citigroup lifted their price objective on ARM from $150.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. The Goldman Sachs Group upped their price target on shares of ARM from $110.00 to $143.00 and gave the stock a “buy” rating in a research report on Tuesday, June 11th. Raymond James started coverage on shares of ARM in a research report on Friday, September 13th. They issued an “outperform” rating and a $160.00 price objective for the company. Needham & Company LLC reiterated a “hold” rating 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 investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.