Maytus Capital Management LLC Purchases Shares of 40,500 Arm Holdings plc (NASDAQ:ARM)

Maytus Capital Management LLC acquired a new position in Arm Holdings plc (NASDAQ:ARM - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 40,500 shares of the company's stock, valued at approximately $4,996,000. ARM accounts for approximately 1.7% of Maytus Capital Management LLC's portfolio, making the stock its 27th largest holding.

Other hedge funds have also recently made changes to their positions in the company. GeoWealth Management LLC boosted its stake in 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. Colonial Trust Co SC purchased a new position in ARM during the fourth quarter valued at $40,000. Berbice Capital Management LLC bought a new stake in ARM in the 4th quarter valued at $49,000. Valley National Advisers Inc. boosted its holdings in shares of ARM by 13.3% during the 4th quarter. Valley National Advisers Inc. now owns 613 shares of the company's stock valued at $75,000 after purchasing an additional 72 shares during the last quarter. Finally, MCF Advisors LLC purchased a new position in shares of ARM during the fourth quarter valued at about $83,000. Institutional investors own 7.53% of the company's stock.

ARM Trading Up 7.8%

NASDAQ:ARM opened at $124.81 on Tuesday. Arm Holdings plc has a twelve month low of $80.00 and a twelve month high of $188.75. The company's 50 day moving average is $110.45 and its two-hundred day moving average is $131.90. The company has a market cap of $130.78 billion, a PE ratio of 164.23, a P/E/G ratio of 6.33 and a beta of 4.39.

ARM (NASDAQ:ARM - Get Free Report) last announced 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 firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.23 billion. ARM had a net margin of 21.82% and a return on equity of 11.94%. The firm's quarterly revenue was up 33.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.36 earnings per share. As a group, analysts expect that Arm Holdings plc will post 0.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Bank of America dropped their price target on ARM from $144.00 to $135.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Rosenblatt Securities cut their target price on shares of ARM from $203.00 to $180.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Needham & Company LLC reissued a "hold" rating on shares of ARM in a research note on Thursday, May 8th. The Goldman Sachs Group raised their price target on ARM from $159.00 to $174.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Finally, Guggenheim cut their price objective on shares of ARM from $180.00 to $147.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $154.67.

ARM Company 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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