Sunbelt Securities Inc. Has $301,000 Stake in Arm Holdings plc (NASDAQ:ARM)

Sunbelt Securities Inc. grew its stake in shares of Arm Holdings plc (NASDAQ:ARM) by 36.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,840 shares of the company’s stock after purchasing an additional 490 shares during the period. Sunbelt Securities Inc.’s holdings in ARM were worth $301,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in ARM. Cambridge Investment Research Advisors Inc. raised its holdings in shares of ARM by 42.0% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 22,210 shares of the company’s stock valued at $1,669,000 after purchasing an additional 6,571 shares during the period. Steward Partners Investment Advisory LLC raised its holdings in shares of ARM by 35.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,405 shares of the company’s stock valued at $256,000 after purchasing an additional 890 shares during the period. Allianz Asset Management GmbH raised its holdings in shares of ARM by 86.6% during the fourth quarter. Allianz Asset Management GmbH now owns 18,659 shares of the company’s stock valued at $1,402,000 after purchasing an additional 8,659 shares during the period. KBC Group NV acquired a new position in shares of ARM during the fourth quarter valued at about $294,000. Finally, CIBC Private Wealth Group LLC bought a new stake in shares of ARM during the fourth quarter worth about $1,273,000. Institutional investors and hedge funds own 7.53% of the company’s stock.

Analyst Ratings Changes

ARM has been the subject of several recent research reports. Loop Capital boosted their target price on shares of ARM from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Daiwa Capital Markets raised shares of ARM from a “neutral” rating to an “outperform” rating and set a $130.00 target price for the company in a research report on Thursday, August 8th. Barclays boosted their target price on shares of ARM from $105.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Citigroup boosted their target price on shares of ARM from $150.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Raymond James initiated coverage on shares of ARM in a research report on Friday, September 13th. They set an “outperform” rating and a $160.00 target price for the company. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, ARM has a consensus rating of “Moderate Buy” and an average target price of $125.96.

ARM Stock Up 0.7 %

ARM stock opened at $137.03 on Thursday. Arm Holdings plc has a twelve month low of $46.50 and a twelve month high of $188.75. The firm has a 50 day moving average price of $131.75 and a 200-day moving average price of $133.46. The company has a market capitalization of $143.58 billion and a P/E ratio of 158.68.

ARM (NASDAQ:ARM) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. The company had revenue of $939.00 million for the quarter, compared to analysts’ expectations of $905.53 million. ARM had a net margin of 12.12% and a return on equity of 18.97%. ARM’s revenue was up 39.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.24 EPS. Equities analysts expect that Arm Holdings plc will post 0.86 EPS 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.