Arm Holdings plc (NASDAQ:ARM) Shares Acquired by State Street Corp

State Street Corp lifted its stake in shares of Arm Holdings plc (NASDAQ:ARM) by 19.2% during the 3rd quarter, Holdings Channel reports. The fund owned 221,854 shares of the company’s stock after buying an additional 35,720 shares during the quarter. State Street Corp’s holdings in ARM were worth $31,727,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ARM. ORG Partners LLC acquired a new position in ARM in the third quarter valued at approximately $29,000. Gilliland Jeter Wealth Management LLC lifted its stake 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. RiverPark Advisors LLC grew its holdings in shares of ARM by 45.3% during the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after purchasing an additional 77 shares during the period. Larson Financial Group LLC acquired a new stake in shares of ARM during the 2nd quarter worth about $47,000. Finally, Alta Advisers Ltd purchased a new stake in ARM in the 2nd quarter valued at about $49,000. Institutional investors and hedge funds own 7.53% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on ARM. Evercore ISI increased their target price on shares of ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Susquehanna lifted their target price on shares of ARM from $115.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Loop Capital upped their price target on ARM from $130.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. The Goldman Sachs Group raised their price target on ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ARM in a report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ARM currently has a consensus rating of “Moderate Buy” and an average target price of $150.32.

ARM Price Performance

NASDAQ:ARM opened at $132.15 on Friday. The firm has a market capitalization of $138.47 billion, a PE ratio of 220.25, a price-to-earnings-growth ratio of 7.15 and a beta of 4.67. The business’s fifty day moving average price is $142.07 and its 200 day moving average price is $143.96. Arm Holdings plc has a 12 month low of $65.11 and a 12 month high of $188.75.

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