CIBC Asset Management Inc Buys 1,840 Shares of Arm Holdings plc (NASDAQ:ARM)

CIBC Asset Management Inc lifted its stake in Arm Holdings plc (NASDAQ:ARM) by 9.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,585 shares of the company’s stock after buying an additional 1,840 shares during the quarter. CIBC Asset Management Inc’s holdings in ARM were worth $2,944,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. KP Management LLC raised its stake in ARM by 28.6% during the 3rd quarter. KP Management LLC now owns 45,000 shares of the company’s stock worth $6,435,000 after acquiring an additional 10,000 shares during the period. Willner & Heller LLC raised its position in shares of ARM by 193.7% during the 3rd quarter. Willner & Heller LLC now owns 6,799 shares of the company’s stock valued at $972,000 after purchasing an additional 4,484 shares during the period. Lazard Asset Management LLC lifted its stake in shares of ARM by 393.0% during the 1st quarter. Lazard Asset Management LLC now owns 25,236 shares of the company’s stock valued at $3,154,000 after buying an additional 20,117 shares in the last quarter. United Advisor Group LLC bought a new position in ARM in the 3rd quarter worth $545,000. Finally, Mizuho Securities Co. Ltd. increased its stake in ARM by 156.3% in the 2nd quarter. Mizuho Securities Co. Ltd. now owns 18,400 shares of the company’s stock worth $3,011,000 after buying an additional 11,220 shares in the last quarter. 7.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ARM shares. Benchmark assumed coverage on ARM in a research report on Monday, September 16th. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft upped their price target on ARM from $82.00 to $105.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. William Blair initiated coverage on shares of ARM in a research report on Wednesday, September 18th. They set an “outperform” rating on the stock. HSBC lowered shares of ARM from a “hold” rating to a “reduce” rating in a research report on Monday, July 29th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $180.00 price target on shares of ARM in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ARM has an average rating of “Moderate Buy” and an average price target of $147.95.

ARM Stock Performance

ARM opened at $128.66 on Tuesday. The stock’s 50 day moving average price is $143.67 and its 200-day moving average price is $140.07. Arm Holdings plc has a one year low of $55.27 and a one year high of $188.75. The stock has a market cap of $134.81 billion, a price-to-earnings ratio of 214.44, a P/E/G ratio of 6.43 and a beta of 5.40.

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

ARM 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.