Arm Holdings plc (NASDAQ:ARM) Shares Bought by Bank of Montreal Can

Bank of Montreal Can increased its stake in shares of Arm Holdings plc (NASDAQ:ARM) by 5.6% in the third quarter, HoldingsChannel reports. The firm owned 36,452 shares of the company’s stock after buying an additional 1,925 shares during the quarter. Bank of Montreal Can’s holdings in ARM were worth $5,307,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in ARM. Private Trust Co. NA grew its holdings in shares of ARM by 5,074.3% during the third quarter. Private Trust Co. NA now owns 1,811 shares of the company’s stock worth $259,000 after buying an additional 1,776 shares in the last quarter. Harvest Fund Management Co. Ltd raised its holdings in ARM by 130.1% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 20,102 shares of the company’s stock valued at $2,872,000 after acquiring an additional 11,364 shares during the last quarter. Fisher Asset Management LLC grew its holdings in ARM by 16.0% in the third quarter. Fisher Asset Management LLC now owns 1,657 shares of the company’s stock valued at $237,000 after purchasing an additional 229 shares during the period. Daiwa Securities Group Inc. grew its holdings in ARM by 7.8% in the third quarter. Daiwa Securities Group Inc. now owns 13,076 shares of the company’s stock valued at $1,869,000 after purchasing an additional 946 shares during the period. Finally, Centaurus Financial Inc. grew its holdings in ARM by 205.8% in the third quarter. Centaurus Financial Inc. now owns 4,162 shares of the company’s stock valued at $595,000 after purchasing an additional 2,801 shares during the period. Institutional investors and hedge funds own 7.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ARM shares. Barclays boosted their target price on shares of ARM from $125.00 to $145.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. William Blair initiated coverage on ARM in a research note on Wednesday, September 18th. They issued an “outperform” rating on the stock. Daiwa Capital Markets raised ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price objective on the stock in a research note on Thursday, August 8th. Susquehanna lifted their price objective on ARM from $115.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, TD Cowen lifted their price objective on ARM from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $150.32.

ARM Trading Up 0.0 %

ARM stock opened at $140.38 on Wednesday. The stock has a market cap of $147.09 billion, a P/E ratio of 233.97, a price-to-earnings-growth ratio of 7.01 and a beta of 4.67. The stock has a 50 day moving average of $142.90 and a 200-day moving average of $142.09. Arm Holdings plc has a 52 week low of $60.37 and a 52 week high of $188.75.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. ARM had a return on equity of 13.69% and a net margin of 18.13%. The firm had revenue of $844.00 million for the quarter, compared to the consensus estimate of $810.03 million. During the same quarter in the prior year, the company posted $0.36 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. As a group, equities analysts predict that Arm Holdings plc will post 0.79 earnings per share for the current fiscal year.

About ARM

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.