GAMMA Investing LLC lifted its position in shares of Arm Holdings plc (NASDAQ:ARM - Free Report) by 1,576.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,562 shares of the company's stock after buying an additional 23,097 shares during the period. GAMMA Investing LLC's holdings in ARM were worth $26,230,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. GeoWealth Management LLC boosted its position in ARM by 53.8% during the fourth quarter. GeoWealth Management LLC now owns 263 shares of the company's stock valued at $32,000 after buying an additional 92 shares during the period. Colonial Trust Co SC bought a new stake in shares of ARM in the 4th quarter valued at about $40,000. Farther Finance Advisors LLC boosted its holdings in ARM by 108.6% during the 4th quarter. Farther Finance Advisors LLC now owns 870 shares of the company's stock valued at $107,000 after acquiring an additional 453 shares during the period. Harbour Investments Inc. grew its position in ARM by 40.1% during the 4th quarter. Harbour Investments Inc. now owns 902 shares of the company's stock worth $111,000 after acquiring an additional 258 shares during the last quarter. Finally, Rialto Wealth Management LLC bought a new position in ARM during the 4th quarter worth approximately $123,000. Institutional investors own 7.53% of the company's stock.
ARM Stock Up 2.7%
Shares of ARM stock traded up $3.56 during midday trading on Friday, hitting $133.11. The company had a trading volume of 3,208,659 shares, compared to its average volume of 6,784,376. The company has a fifty day simple moving average of $115.25 and a 200 day simple moving average of $130.53. The stock has a market cap of $141.00 billion, a price-to-earnings ratio of 175.15, a PEG ratio of 6.33 and a beta of 4.08. Arm Holdings plc has a 12-month low of $80.00 and a 12-month high of $188.75.
ARM (NASDAQ:ARM - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.52 by $0.03. The business had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.23 billion. ARM had a net margin of 21.82% and a return on equity of 11.94%. The business's quarterly revenue was up 33.7% on a year-over-year basis. During the same quarter last year, the company posted $0.36 earnings per share. As a group, analysts expect that Arm Holdings plc will post 0.9 EPS for the current year.
Wall Street Analyst Weigh In
ARM has been the subject of several recent research reports. Wells Fargo & Company lowered their price objective on ARM from $150.00 to $145.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Mizuho raised their price target on shares of ARM from $160.00 to $180.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Citigroup decreased their price objective on shares of ARM from $200.00 to $170.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Jefferies Financial Group increased their price objective on ARM from $170.00 to $195.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Finally, Cfra Research upgraded ARM to a "hold" rating in a research report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, ARM currently has a consensus rating of "Moderate Buy" and an average target price of $152.76.
Check Out Our Latest Research Report on ARM
About ARM
(
Free Report)
Arm Holdings Plc engages in the licensing, marketing, research, and development of microprocessors, systems IP, graphics processing units, physical IP and associated systems IP, software, and tools. It operates through the following geographical segments: United Kingdom, United States, and Other Countries.
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