Fortem Financial Group LLC Increases Stock Holdings in Arm Holdings plc (NASDAQ:ARM)

Fortem Financial Group LLC increased its holdings in Arm Holdings plc (NASDAQ:ARM) by 65.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,770 shares of the company’s stock after buying an additional 2,675 shares during the period. Fortem Financial Group LLC’s holdings in ARM were worth $1,108,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of ARM by 49.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,555 shares of the company’s stock valued at $117,000 after acquiring an additional 514 shares in the last quarter. Fisher Asset Management LLC acquired a new stake in ARM during the fourth quarter worth approximately $102,000. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of ARM during the fourth quarter worth $118,000. National Bank of Canada FI lifted its position in ARM by 700.0% during the fourth quarter. National Bank of Canada FI now owns 800 shares of the company’s stock worth $55,000 after buying an additional 700 shares during the period. Finally, Private Advisor Group LLC purchased a new position in shares of ARM during the 4th quarter worth about $226,000. 7.53% of the stock is owned by institutional investors and hedge funds.

ARM Price Performance

ARM stock opened at $123.74 on Wednesday. Arm Holdings plc has a 12-month low of $46.50 and a 12-month high of $188.75. The stock has a market capitalization of $129.66 billion and a PE ratio of 140.35. The firm has a 50 day simple moving average of $145.74 and a 200-day simple moving average of $132.90.

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 analysts’ expectations of $905.53 million. ARM had a return on equity of 18.97% and a net margin of 12.12%. The firm’s revenue for the quarter was up 39.1% on a year-over-year basis. During the same period last year, the firm earned $0.24 EPS. On average, analysts forecast that Arm Holdings plc will post 0.82 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Sanford C. Bernstein raised shares of ARM from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $92.00 to $100.00 in a research note on Wednesday, August 7th. HSBC lowered ARM from a “hold” rating to a “reduce” rating in a research note on Monday, July 29th. Morgan Stanley raised shares of ARM from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $107.00 to $190.00 in a research report on Friday, July 19th. Daiwa America raised shares of ARM from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $180.00 price objective on shares of ARM in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $121.56.

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.