Smith Group Asset Management LLC Acquires New Position in Arm Holdings plc (NASDAQ:ARM)

Smith Group Asset Management LLC bought a new position in shares of Arm Holdings plc (NASDAQ:ARM) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 24,000 shares of the company’s stock, valued at approximately $2,961,000.

Other hedge funds also recently added to or reduced their stakes in the company. ORG Partners LLC acquired a new stake in ARM in the third quarter valued at approximately $29,000. Gilliland Jeter Wealth Management LLC increased its position in shares of ARM by 83.0% in the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock valued at $37,000 after purchasing an additional 117 shares during the last quarter. Berbice Capital Management LLC acquired a new stake in shares of ARM in the 4th quarter valued at $49,000. Quantbot Technologies LP acquired a new stake in shares of ARM in the 3rd quarter valued at $52,000. Finally, Farther Finance Advisors LLC grew its stake in shares of ARM by 45.8% during the third quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock worth $60,000 after purchasing an additional 131 shares in the last quarter. 7.53% of the stock is currently owned by institutional investors and hedge funds.

ARM Trading Up 2.4 %

NASDAQ ARM opened at $149.47 on Wednesday. The stock has a market capitalization of $156.62 billion, a price-to-earnings ratio of 249.12, a PEG ratio of 8.41 and a beta of 4.53. The business’s 50 day moving average is $140.66 and its two-hundred day moving average is $140.00. Arm Holdings plc has a 12-month low of $69.32 and a 12-month high of $188.75.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. ARM had a return on equity of 13.69% and a net margin of 18.13%. The firm had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. During the same quarter in the prior year, the company posted $0.36 earnings per share. ARM’s quarterly revenue was up 4.7% on a year-over-year basis. Equities analysts forecast that Arm Holdings plc will post 0.84 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on ARM. UBS Group assumed coverage on ARM in a research note on Monday, November 25th. They issued a “buy” rating and a $160.00 price target on the stock. The Goldman Sachs Group raised their target price on ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. TD Cowen upped their price target on ARM from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Evercore ISI raised their price objective on shares of ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, Needham & Company LLC restated a “hold” rating on shares of ARM in a report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $152.09.

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.