Arm Holdings plc (NASDAQ:ARM) Stock Position Raised by Main Street Financial Solutions LLC

Main Street Financial Solutions LLC lifted its stake in shares of Arm Holdings plc (NASDAQ:ARM) by 48.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,159 shares of the company’s stock after acquiring an additional 2,346 shares during the quarter. Main Street Financial Solutions LLC’s holdings in ARM were worth $1,171,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Schroder Investment Management Group purchased a new stake in shares of ARM in the fourth quarter valued at $480,194,000. Wellington Management Group LLP lifted its holdings in shares of ARM by 56.4% in the fourth quarter. Wellington Management Group LLP now owns 4,468,720 shares of the company’s stock valued at $335,802,000 after purchasing an additional 1,611,926 shares in the last quarter. Robeco Schweiz AG lifted its holdings in shares of ARM by 220.3% in the fourth quarter. Robeco Schweiz AG now owns 2,130,000 shares of the company’s stock valued at $160,059,000 after purchasing an additional 1,465,000 shares in the last quarter. Mubadala Investment Co PJSC purchased a new stake in shares of ARM in the fourth quarter valued at $150,437,000. Finally, Capstone Investment Advisors LLC lifted its holdings in shares of ARM by 362.6% in the fourth quarter. Capstone Investment Advisors LLC now owns 902,000 shares of the company’s stock valued at $67,781,000 after purchasing an additional 707,000 shares in the last quarter. Hedge funds and other institutional investors own 7.53% of the company’s stock.

ARM Stock Performance

Shares of NASDAQ:ARM opened at $139.18 on Friday. The company has a market cap of $145.84 billion and a P/E ratio of 124.78. The stock’s 50-day moving average is $140.53 and its 200-day moving average is $132.85. Arm Holdings plc has a 52-week low of $46.50 and a 52-week high of $188.75.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05. The company had revenue of $939.00 million for the quarter, compared to the consensus estimate of $905.53 million. ARM had a return on equity of 18.97% and a net margin of 12.12%. The firm’s revenue was up 39.1% compared to the same quarter last year. During the same period last year, the business posted $0.24 earnings per share. As a group, equities analysts predict that Arm Holdings plc will post 0.82 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Guggenheim increased their target price on ARM from $110.00 to $169.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. The Goldman Sachs Group increased their price objective on ARM from $110.00 to $143.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. Citigroup increased their price objective on ARM from $150.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Daiwa America upgraded ARM from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 8th. Finally, Daiwa Capital Markets upgraded ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price objective for the company in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.56.

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.