Sovereign Financial Group Inc. Has $680,000 Stock Holdings in Arm Holdings plc (NASDAQ:ARM)

Sovereign Financial Group Inc. lifted its position in shares of Arm Holdings plc (NASDAQ:ARM) by 19.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,752 shares of the company’s stock after buying an additional 763 shares during the quarter. Sovereign Financial Group Inc.’s holdings in ARM were worth $680,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brookstone Capital Management increased its holdings in ARM by 12.4% in the third quarter. Brookstone Capital Management now owns 1,411 shares of the company’s stock valued at $202,000 after purchasing an additional 156 shares during the period. Alpha Cubed Investments LLC increased its position in ARM by 5.0% during the 3rd quarter. Alpha Cubed Investments LLC now owns 2,628 shares of the company’s stock valued at $376,000 after purchasing an additional 124 shares during the period. Parisi Gray Wealth Management lifted its position in shares of ARM by 419.5% in the 3rd quarter. Parisi Gray Wealth Management now owns 6,540 shares of the company’s stock worth $935,000 after purchasing an additional 5,281 shares during the period. IAM Advisory LLC bought a new stake in shares of ARM in the 3rd quarter valued at $671,000. Finally, Capital CS Group LLC acquired a new stake in shares of ARM during the third quarter worth $752,000. Institutional investors and hedge funds own 7.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. William Blair assumed coverage on ARM in a research report on Wednesday, September 18th. They set an “outperform” rating on the stock. Guggenheim raised their price objective on shares of ARM from $110.00 to $169.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Needham & Company LLC reiterated a “hold” rating on shares of ARM in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft raised their price target on shares of ARM from $82.00 to $105.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Finally, Daiwa America upgraded shares of ARM from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $125.96.

ARM Stock Performance

ARM stock opened at $143.60 on Wednesday. The stock has a market cap of $150.47 billion and a PE ratio of 147.06. Arm Holdings plc has a fifty-two week low of $46.50 and a fifty-two week high of $188.75. The firm’s 50-day simple moving average is $131.58 and its 200 day simple moving average is $133.77.

ARM (NASDAQ:ARM) last announced its 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 firm had revenue of $939.00 million for the quarter, compared to the consensus estimate of $905.53 million. ARM had a return on equity of 18.97% and a net margin of 12.12%. The company’s revenue was up 39.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.24 EPS. As a group, analysts predict 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.