Hoey Investments Inc. Acquires 5,215 Shares of Arm Holdings plc (NASDAQ:ARM)

Hoey Investments Inc. raised its holdings in Arm Holdings plc (NASDAQ:ARM - Free Report) by 802.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,865 shares of the company's stock after acquiring an additional 5,215 shares during the quarter. Hoey Investments Inc.'s holdings in ARM were worth $626,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ARM. GeoWealth Management LLC increased its position in shares of ARM by 53.8% in 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 in the last quarter. Colonial Trust Co SC purchased a new stake in ARM during the 4th quarter worth about $40,000. Farther Finance Advisors LLC increased its position in ARM by 108.6% during the 4th quarter. Farther Finance Advisors LLC now owns 870 shares of the company's stock worth $107,000 after purchasing an additional 453 shares in the last quarter. West Branch Capital LLC purchased a new stake in ARM during the 1st quarter worth about $107,000. Finally, Harbour Investments Inc. increased 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 purchasing an additional 258 shares in the last quarter. Institutional investors and hedge funds own 7.53% of the company's stock.

Analyst Upgrades and Downgrades

ARM has been the topic of several research analyst reports. KGI Securities started coverage on ARM in a research note on Tuesday, April 15th. They issued a "neutral" rating on the stock. Morgan Stanley lowered their price objective on ARM from $175.00 to $150.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. Wells Fargo & Company cut their price objective on ARM from $150.00 to $145.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Benchmark reaffirmed a "hold" rating on shares of ARM in a report on Monday, June 9th. Finally, Raymond James lowered their target price on ARM from $175.00 to $140.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. Two analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $152.76.

ARM Stock Performance

Shares of ARM stock traded down $3.07 on Friday, hitting $135.55. The company had a trading volume of 3,305,200 shares, compared to its average volume of 6,561,177. Arm Holdings plc has a twelve month low of $80.00 and a twelve month high of $188.75. The stock's 50-day moving average is $120.29 and its two-hundred day moving average is $130.62. The firm has a market cap of $143.58 billion, a P/E ratio of 178.36, a P/E/G ratio of 6.33 and a beta of 4.08.

ARM (NASDAQ:ARM - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.55 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.03. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.23 billion. ARM had a return on equity of 11.94% and a net margin of 21.82%. The company's revenue for the quarter was up 33.7% on a year-over-year basis. During the same quarter last year, the company earned $0.36 earnings per share. Equities research analysts predict that Arm Holdings plc will post 0.9 EPS for the current year.

ARM Profile

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.