Park Avenue Securities LLC Acquires 221 Shares of Arm Holdings plc (NASDAQ:ARM)

Park Avenue Securities LLC grew its holdings in Arm Holdings plc (NASDAQ:ARM) by 8.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,780 shares of the company’s stock after purchasing an additional 221 shares during the quarter. Park Avenue Securities LLC’s holdings in ARM were worth $398,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. First Community Trust NA bought a new position in shares of ARM in the 3rd quarter valued at about $70,000. Centaurus Financial Inc. bought a new position in ARM during the 2nd quarter worth approximately $223,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in ARM during the 2nd quarter worth approximately $1,776,000. Sanctuary Advisors LLC bought a new position in ARM during the 2nd quarter worth approximately $737,000. Finally, NCP Inc. boosted its stake in ARM by 464.5% during the 2nd quarter. NCP Inc. now owns 35,000 shares of the company’s stock worth $5,727,000 after acquiring an additional 28,800 shares during the last quarter. Institutional investors own 7.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ARM shares. Benchmark started coverage on shares of ARM in a research note on Monday, September 16th. They set a “hold” rating on the stock. Daiwa Capital Markets raised shares of ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price target on the stock in a research note on Thursday, August 8th. Hsbc Global Res raised shares of ARM to a “moderate sell” rating in a research note on Monday, July 29th. Citigroup lifted their price target on shares of ARM from $150.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Daiwa America raised shares of ARM from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, ARM has an average rating of “Moderate Buy” and an average price target of $134.91.

ARM Trading Up 1.4 %

Shares of ARM opened at $151.46 on Friday. Arm Holdings plc has a 1-year low of $46.50 and a 1-year high of $188.75. The company has a market cap of $158.70 billion and a price-to-earnings ratio of 388.37. The company’s fifty day simple moving average is $132.98 and its 200 day simple moving average is $134.11.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.35 by $0.05. ARM had a net margin of 12.12% and a return on equity of 18.97%. The firm had revenue of $939.00 million for the quarter, compared to the consensus estimate of $905.53 million. During the same period in the previous year, the company earned $0.24 earnings per share. The company’s quarterly revenue was up 39.1% on a year-over-year basis. As a group, research analysts forecast that Arm Holdings plc will post 0.86 earnings per share for the current year.

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.