SG Americas Securities LLC Invests $22.71 Million in Arm Holdings plc (NASDAQ:ARM)

SG Americas Securities LLC acquired a new stake in shares of Arm Holdings plc (NASDAQ:ARM) in the 4th quarter, Holdings Channel reports. The firm acquired 184,056 shares of the company’s stock, valued at approximately $22,705,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Franklin Resources Inc. grew its stake in ARM by 21.7% during the 3rd quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock worth $183,265,000 after buying an additional 228,467 shares during the last quarter. International Assets Investment Management LLC increased its stake in ARM by 14,351.1% during the 3rd quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock valued at $1,161,670,000 after purchasing an additional 806,676 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of ARM by 186.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock worth $52,279,000 after buying an additional 233,909 shares during the period. Mark Asset Management LP grew its holdings in shares of ARM by 14.2% during the second quarter. Mark Asset Management LP now owns 238,589 shares of the company’s stock valued at $39,038,000 after buying an additional 29,686 shares during the last quarter. Finally, State Street Corp increased its position in shares of ARM by 19.2% in the 3rd quarter. State Street Corp now owns 221,854 shares of the company’s stock valued at $31,727,000 after acquiring an additional 35,720 shares during the period. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

ARM Price Performance

Shares of ARM stock opened at $179.93 on Thursday. The business has a 50 day simple moving average of $137.82 and a two-hundred day simple moving average of $140.73. The stock has a market capitalization of $188.54 billion, a P/E ratio of 299.89, a PEG ratio of 6.97 and a beta of 4.53. Arm Holdings plc has a 12 month low of $69.32 and a 12 month high of $188.75.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. The company had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 EPS. As a group, research analysts anticipate that Arm Holdings plc will post 0.84 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on ARM shares. The Goldman Sachs Group lifted their price target on ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. TD Cowen increased their price target on shares of ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Loop Capital lifted their price objective on shares of ARM from $130.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Wells Fargo & Company raised their target price on shares of ARM from $155.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Finally, JPMorgan Chase & Co. upped their price target on shares of ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, ARM presently has a consensus rating of “Moderate Buy” and an average price target of $152.09.

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.