Legacy Financial Strategies LLC Acquires New Shares in Arm Holdings plc (NASDAQ:ARM)

Legacy Financial Strategies LLC bought a new position in shares of Arm Holdings plc (NASDAQ:ARM) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 2,795 shares of the company’s stock, valued at approximately $400,000.

Other institutional investors have also added to or reduced their stakes in the company. Sei Investments Co. lifted its stake in shares of ARM by 551.6% during the 2nd quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock worth $94,790,000 after purchasing an additional 490,415 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in ARM by 5.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 290,947 shares of the company’s stock valued at $36,366,000 after acquiring an additional 14,584 shares during the last quarter. Rheos Capital Works Inc. lifted its holdings in shares of ARM by 48.1% during the 1st quarter. Rheos Capital Works Inc. now owns 256,900 shares of the company’s stock valued at $32,110,000 after purchasing an additional 83,400 shares during the last quarter. Mark Asset Management LP boosted its position in shares of ARM by 14.2% in the 2nd quarter. Mark Asset Management LP now owns 238,589 shares of the company’s stock worth $39,038,000 after purchasing an additional 29,686 shares in the last quarter. Finally, State of Michigan Retirement System acquired a new position in ARM during the 1st quarter valued at about $28,523,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

ARM Stock Down 1.0 %

Shares of NASDAQ ARM traded down $1.57 during midday trading on Friday, hitting $153.03. The stock had a trading volume of 3,404,374 shares, compared to its average volume of 11,257,027. The stock has a 50 day simple moving average of $137.10 and a 200-day simple moving average of $135.06. Arm Holdings plc has a 1 year low of $46.50 and a 1 year high of $188.75. The company has a market capitalization of $160.35 billion and a PE ratio of 392.39.

ARM (NASDAQ:ARM) last issued its earnings results on Wednesday, July 31st. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. The business had revenue of $939.00 million during the quarter, compared to analysts’ expectations of $905.53 million. ARM had a net margin of 12.12% and a return on equity of 18.97%. The company’s quarterly revenue was up 39.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.24 earnings per share. As a group, analysts expect that Arm Holdings plc will post 0.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ARM. Loop Capital upped their price objective on shares of ARM from $120.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Daiwa America raised shares of ARM from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 8th. Citigroup boosted their price objective on shares of ARM from $150.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Raymond James initiated coverage on ARM in a research note on Friday, September 13th. They issued an “outperform” rating and a $160.00 target price for the company. Finally, Hsbc Global Res upgraded 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, eight have issued a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, ARM presently has a consensus rating of “Moderate Buy” and an average target price of $134.91.

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.