Franklin Resources Inc. Has $183.27 Million Stock Holdings in Arm Holdings plc (NASDAQ:ARM)

Franklin Resources Inc. boosted its position in shares of Arm Holdings plc (NASDAQ:ARM) by 21.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,281,484 shares of the company’s stock after purchasing an additional 228,467 shares during the period. Franklin Resources Inc.’s holdings in ARM were worth $183,265,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of ARM during the 3rd quarter valued at about $419,000. Virtu Financial LLC bought a new stake in ARM in the third quarter worth approximately $1,163,000. Hobbs Group Advisors LLC increased its stake in shares of ARM by 7.4% during the 3rd quarter. Hobbs Group Advisors LLC now owns 1,454 shares of the company’s stock worth $208,000 after purchasing an additional 100 shares during the last quarter. Fortem Financial Group LLC raised its holdings in shares of ARM by 6.4% during the 3rd quarter. Fortem Financial Group LLC now owns 7,200 shares of the company’s stock valued at $1,030,000 after purchasing an additional 430 shares in the last quarter. Finally, Sunbelt Securities Inc. lifted its stake in shares of ARM by 45.4% in the 3rd quarter. Sunbelt Securities Inc. now owns 2,675 shares of the company’s stock valued at $383,000 after purchasing an additional 835 shares during the last quarter. Hedge funds and other institutional investors own 7.53% of the company’s stock.

ARM Trading Up 2.6 %

Shares of NASDAQ ARM opened at $151.91 on Friday. Arm Holdings plc has a 1 year low of $65.11 and a 1 year high of $188.75. The firm’s 50-day moving average is $142.98 and its 200-day moving average is $143.45. The firm has a market capitalization of $159.18 billion, a PE ratio of 253.18, a price-to-earnings-growth ratio of 7.15 and a beta of 4.67.

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ARM shares. Wells Fargo & Company assumed coverage on shares of ARM in a research report on Friday, November 22nd. They set an “overweight” rating and a $155.00 target price on the stock. TD Cowen increased their price objective on ARM from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 7th. UBS Group initiated coverage on ARM in a report on Monday, November 25th. They issued a “buy” rating and a $160.00 target price for the company. Needham & Company LLC reiterated a “hold” rating on shares of ARM in a report on Thursday, November 7th. Finally, Raymond James began coverage on shares of ARM in a research note on Friday, September 13th. They issued an “outperform” rating and a $160.00 price objective for the company. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, ARM currently has a consensus rating of “Moderate Buy” and an average price target of $150.32.

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.