Hexagon Capital Partners LLC Increases Stock Holdings in Arm Holdings plc (NASDAQ:ARM)

Hexagon Capital Partners LLC lifted its stake in shares of Arm Holdings plc (NASDAQ:ARM) by 14.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 627 shares of the company’s stock after buying an additional 77 shares during the quarter. Hexagon Capital Partners LLC’s holdings in ARM were worth $90,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Lazard Asset Management LLC increased its holdings in ARM by 393.0% during the 1st quarter. Lazard Asset Management LLC now owns 25,236 shares of the company’s stock worth $3,154,000 after purchasing an additional 20,117 shares during the last quarter. Mizuho Securities Co. Ltd. increased its holdings in ARM by 156.3% during the 2nd quarter. Mizuho Securities Co. Ltd. now owns 18,400 shares of the company’s stock worth $3,011,000 after purchasing an additional 11,220 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in ARM during the 2nd quarter worth approximately $4,090,000. Rheos Capital Works Inc. increased its holdings in ARM by 48.1% during the 1st quarter. Rheos Capital Works Inc. now owns 256,900 shares of the company’s stock worth $32,110,000 after purchasing an additional 83,400 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. purchased a new stake in ARM during the 1st quarter worth approximately $222,000. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

ARM Stock Performance

ARM stock opened at $149.33 on Friday. The business’s 50-day simple moving average is $132.22 and its 200-day simple moving average is $133.98. Arm Holdings plc has a 52 week low of $46.50 and a 52 week high of $188.75. The firm has a market capitalization of $156.47 billion and a PE ratio of 147.06.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.35 by $0.05. ARM had a return on equity of 18.97% and a net margin of 12.12%. The company had revenue of $939.00 million for the quarter, compared to the consensus estimate of $905.53 million. During the same period in the previous year, the business posted $0.24 EPS. The company’s revenue for the quarter was up 39.1% on a year-over-year basis. Research analysts forecast that Arm Holdings plc will post 0.86 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Evercore ISI lifted their price objective on ARM from $145.00 to $173.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Rosenblatt Securities reiterated a “buy” rating and issued a $180.00 price target on shares of ARM in a report on Thursday, August 1st. Needham & Company LLC reiterated a “hold” rating on shares of ARM in a report on Thursday, August 1st. Guggenheim boosted their price target on ARM from $110.00 to $169.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Finally, William Blair started coverage on ARM in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, ARM presently has an average rating of “Moderate Buy” and a consensus price target of $134.91.

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.