Geode Capital Management LLC Buys 6,959 Shares of Arm Holdings plc (NASDAQ:ARM)

Geode Capital Management LLC boosted its holdings in shares of Arm Holdings plc (NASDAQ:ARM) by 6.9% during the third quarter, HoldingsChannel reports. The fund owned 107,683 shares of the company’s stock after purchasing an additional 6,959 shares during the quarter. Geode Capital Management LLC’s holdings in ARM were worth $15,400,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of ARM. Savoie Capital LLC raised its holdings in shares of ARM by 270.3% during the third quarter. Savoie Capital LLC now owns 13,700 shares of the company’s stock valued at $1,959,000 after purchasing an additional 10,000 shares during the period. High Falls Advisors Inc lifted its holdings in ARM by 12.5% during the 3rd quarter. High Falls Advisors Inc now owns 4,500 shares of the company’s stock worth $644,000 after purchasing an additional 500 shares in the last quarter. Gordian Capital Singapore Pte Ltd purchased a new position in shares of ARM during the 3rd quarter valued at $185,000. Nomura Asset Management Co. Ltd. raised its stake in ARM by 113.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 13,762 shares of the company’s stock valued at $1,968,000 after purchasing an additional 7,328 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of ARM in the 3rd quarter worth approximately $687,000. Institutional investors and hedge funds own 7.53% of the company’s stock.

ARM Price Performance

Shares of NASDAQ:ARM opened at $129.20 on Monday. The stock’s 50 day moving average price is $139.60 and its 200 day moving average price is $143.56. The stock has a market cap of $135.38 billion, a price-to-earnings ratio of 215.34, a PEG ratio of 7.15 and a beta of 4.67. Arm Holdings plc has a 12 month low of $65.11 and a 12 month high of $188.75.

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a research note on Thursday, November 7th. Barclays increased their price target on ARM from $125.00 to $145.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. The Goldman Sachs Group raised their price objective on ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Evercore ISI boosted their target price on ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Loop Capital upped their price objective on shares of ARM from $130.00 to $180.00 and gave the company a “buy” rating in a report on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $150.32.

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.