Northstar Group Inc. Makes New $229,000 Investment in Arm Holdings plc (NASDAQ:ARM)

Northstar Group Inc. bought a new position in shares of Arm Holdings plc (NASDAQ:ARM - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,145 shares of the company's stock, valued at approximately $229,000.

Several other hedge funds have also recently modified their holdings of ARM. Tufton Capital Management raised its holdings in shares of ARM by 1.5% in the 4th quarter. Tufton Capital Management now owns 4,425 shares of the company's stock worth $546,000 after purchasing an additional 65 shares during the period. Zullo Investment Group Inc. raised its holdings in shares of ARM by 4.6% in the 4th quarter. Zullo Investment Group Inc. now owns 1,915 shares of the company's stock worth $236,000 after purchasing an additional 85 shares during the period. GeoWealth Management LLC raised its holdings in shares of ARM by 53.8% in the 4th quarter. GeoWealth Management LLC now owns 263 shares of the company's stock worth $32,000 after purchasing an additional 92 shares during the period. Cibc World Markets Corp raised its holdings in shares of ARM by 3.5% in the 4th quarter. Cibc World Markets Corp now owns 2,838 shares of the company's stock worth $350,000 after purchasing an additional 96 shares during the period. Finally, B. Riley Wealth Advisors Inc. raised its holdings in shares of ARM by 2.0% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 4,929 shares of the company's stock worth $608,000 after purchasing an additional 96 shares during the period. Institutional investors own 7.53% of the company's stock.

ARM Stock Down 2.2%

NASDAQ ARM opened at $135.55 on Monday. The company has a 50-day simple moving average of $120.29 and a two-hundred day simple moving average of $130.60. Arm Holdings plc has a 12-month low of $80.00 and a 12-month high of $188.75. The firm has a market cap of $143.58 billion, a price-to-earnings ratio of 178.36, a PEG ratio of 6.33 and a beta of 4.08.

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, beating the consensus estimate of $0.52 by $0.03. ARM had a net margin of 21.82% and a return on equity of 11.94%. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period in the prior year, the business posted $0.36 earnings per share. The company's revenue was up 33.7% on a year-over-year basis. Equities analysts expect that Arm Holdings plc will post 0.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ARM. KeyCorp lowered their target price on shares of ARM from $195.00 to $175.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. JPMorgan Chase & Co. lowered their target price on shares of ARM from $175.00 to $150.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Citigroup lowered their target price on shares of ARM from $200.00 to $170.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. TD Cowen lowered their target price on shares of ARM from $200.00 to $155.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Finally, Raymond James lowered their target price on shares of 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 issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, ARM has a consensus rating of "Moderate Buy" and an average price target of $152.76.

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.

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