Oppenheimer & Co. Inc. Increases Position in Arm Holdings plc (NASDAQ:ARM)

Oppenheimer & Co. Inc. lifted its position in shares of Arm Holdings plc (NASDAQ:ARM) by 258.2% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 58,197 shares of the company’s stock after buying an additional 41,948 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in ARM were worth $9,522,000 at the end of the most recent quarter.

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

ARM Price Performance

ARM stock opened at $147.37 on Friday. The stock has a market cap of $154.42 billion and a price-to-earnings ratio of 149.28. The firm has a 50-day moving average of $139.85 and a two-hundred day moving average of $132.85. Arm Holdings plc has a 1 year low of $46.50 and a 1 year high of $188.75.

ARM (NASDAQ:ARM) last announced its quarterly 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 return on equity of 18.97% and a net margin of 12.12%. The firm had revenue of $939.00 million during the quarter, compared to analyst estimates of $905.53 million. During the same quarter in the previous year, the business earned $0.24 earnings per share. ARM’s quarterly revenue was up 39.1% on a year-over-year basis. Research analysts expect that Arm Holdings plc will post 0.82 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on ARM. Deutsche Bank Aktiengesellschaft raised their price target on ARM from $82.00 to $105.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Barclays increased their target price on ARM from $105.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Rosenblatt Securities restated a “buy” rating and issued a $180.00 price target on shares of ARM in a research report on Thursday, August 1st. Daiwa America upgraded shares of ARM from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, Daiwa Capital Markets raised shares of 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. One research analyst has rated the stock with a sell rating, ten have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, ARM presently has an average rating of “Moderate Buy” and an average target price of $123.04.

ARM Company 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.