Advisors Asset Management Inc. Has $379,000 Stake in Arm Holdings plc (NASDAQ:ARM)

Advisors Asset Management Inc. grew its holdings in Arm Holdings plc (NASDAQ:ARM) by 147.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 2,652 shares of the company’s stock after acquiring an additional 1,579 shares during the quarter. Advisors Asset Management Inc.’s holdings in ARM were worth $379,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Transcendent Capital Group LLC acquired a new position in ARM during the 2nd quarter valued at $33,000. ORG Partners LLC bought a new position in shares of ARM during the 3rd quarter worth about $29,000. RiverPark Advisors LLC raised its position in shares of ARM by 45.3% during the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after buying an additional 77 shares during the last quarter. Mather Group LLC. bought a new stake in shares of ARM in the second quarter valued at about $41,000. Finally, Gilliland Jeter Wealth Management LLC grew its position in ARM by 83.0% during the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after buying an additional 117 shares in the last quarter. 7.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on ARM. Evercore ISI upped their price target on ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft upped their target price on ARM from $82.00 to $105.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Citigroup lifted their price target on shares of ARM from $150.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. The Goldman Sachs Group increased their price objective on shares of ARM from $144.00 to $159.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. lifted their target price on shares of ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $150.32.

ARM Trading Down 2.5 %

Shares of ARM stock opened at $133.37 on Friday. The firm has a market capitalization of $139.75 billion, a price-to-earnings ratio of 222.28, a PEG ratio of 6.97 and a beta of 5.40. The firm’s 50 day moving average is $143.07 and its 200-day moving average is $141.21. Arm Holdings plc has a 1 year low of $60.37 and a 1 year high of $188.75.

ARM (NASDAQ:ARM) last announced 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 firm had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company earned $0.36 EPS. On average, equities research analysts forecast that Arm Holdings plc will post 0.79 earnings per share 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.