CloudAlpha Capital Management Limited Hong Kong Has $10.13 Million Stock Holdings in Arm Holdings plc (NASDAQ:ARM)

CloudAlpha Capital Management Limited Hong Kong grew its position in shares of Arm Holdings plc (NASDAQ:ARM) by 673.8% during the 2nd quarter, Holdings Channel reports. The firm owned 61,900 shares of the company’s stock after purchasing an additional 53,900 shares during the period. ARM comprises 0.9% of CloudAlpha Capital Management Limited Hong Kong’s investment portfolio, making the stock its 10th largest position. CloudAlpha Capital Management Limited Hong Kong’s holdings in ARM were worth $10,128,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of ARM. RiverPark Advisors LLC boosted its stake in ARM by 45.3% during the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after buying an additional 77 shares in the last quarter. BOKF NA lifted its holdings in ARM by 33.3% in the 1st quarter. BOKF NA now owns 400 shares of the company’s stock valued at $51,000 after acquiring an additional 100 shares during the last quarter. Comerica Bank boosted its position in shares of ARM by 6.1% during the 1st quarter. Comerica Bank now owns 1,780 shares of the company’s stock valued at $222,000 after purchasing an additional 103 shares in the last quarter. Naples Money Management LLC grew its stake in shares of ARM by 47.8% in the 1st quarter. Naples Money Management LLC now owns 340 shares of the company’s stock worth $42,000 after purchasing an additional 110 shares during the last quarter. Finally, Schwarz Dygos Wheeler Investment Advisors LLC grew its stake in shares of ARM by 2.9% in the 1st quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 5,159 shares of the company’s stock worth $645,000 after purchasing an additional 145 shares during the last quarter. Institutional investors own 7.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ARM. TD Cowen upgraded shares of ARM to a “strong-buy” rating in a report on Monday. Daiwa Capital Markets raised ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price objective for the company in a research note on Thursday, August 8th. Citigroup boosted their target price on ARM from $150.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Raymond James started coverage on ARM in a report on Friday, September 13th. They set an “outperform” rating and a $160.00 target price for the company. Finally, Hsbc Global Res raised ARM to a “moderate sell” rating in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $123.04.

ARM Price Performance

Shares of ARM stock opened at $136.84 on Wednesday. The firm has a market cap of $143.39 billion and a price-to-earnings ratio of 148.06. The stock has a 50-day simple moving average of $138.02 and a 200-day simple moving average of $132.76. Arm Holdings plc has a 52-week low of $46.50 and a 52-week high of $188.75.

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

ARM Profile

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.