3,700 Shares in Arm Holdings plc (NASDAQ:ARM) Acquired by Savoie Capital LLC

Savoie Capital LLC bought a new stake in Arm Holdings plc (NASDAQ:ARM) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,700 shares of the company’s stock, valued at approximately $605,000.

Other institutional investors also recently bought and sold shares of the company. Beacon Pointe Advisors LLC purchased a new stake in shares of ARM during the 4th quarter valued at $205,000. Cambridge Investment Research Advisors Inc. increased its position in ARM by 42.0% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 22,210 shares of the company’s stock valued at $1,669,000 after buying an additional 6,571 shares in the last quarter. Edmond DE Rothschild Holding S.A. increased its position in ARM by 78.9% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 4,535 shares of the company’s stock valued at $341,000 after buying an additional 2,000 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in ARM by 35.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,405 shares of the company’s stock valued at $256,000 after buying an additional 890 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in ARM by 86.6% in the fourth quarter. Allianz Asset Management GmbH now owns 18,659 shares of the company’s stock worth $1,402,000 after acquiring an additional 8,659 shares in the last quarter. 7.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ARM shares. Hsbc Global Res upgraded shares of ARM to a “moderate sell” rating in a report on Monday, July 29th. Benchmark initiated coverage on shares of ARM in a research note on Monday, September 16th. They set a “hold” rating on the stock. Evercore ISI lifted their price objective on shares of ARM from $145.00 to $173.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Guggenheim upped their target price on ARM from $110.00 to $169.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Finally, The Goldman Sachs Group raised their target price on ARM from $110.00 to $143.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. One analyst has rated the stock with a sell rating, ten have given a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $125.96.

ARM Stock Performance

Shares of ARM stock opened at $141.72 on Tuesday. The firm has a 50-day simple moving average of $134.84 and a two-hundred day simple moving average of $132.83. Arm Holdings plc has a fifty-two week low of $46.50 and a fifty-two week high of $188.75. The company has a market cap of $148.50 billion and a P/E ratio of 145.57.

ARM (NASDAQ:ARM) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The company had revenue of $939.00 million during the quarter, compared to analysts’ expectations of $905.53 million. ARM had a return on equity of 18.97% and a net margin of 12.12%. ARM’s quarterly revenue was up 39.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.24 EPS. Equities research analysts forecast that Arm Holdings plc will post 0.82 EPS for the current year.

ARM Company 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.