60,000 Shares in Arm Holdings plc (NASDAQ:ARM) Purchased by Avalon Global Asset Management LLC

Avalon Global Asset Management LLC bought a new stake in shares of Arm Holdings plc (NASDAQ:ARM) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 60,000 shares of the company’s stock, valued at approximately $8,581,000. ARM accounts for approximately 1.3% of Avalon Global Asset Management LLC’s holdings, making the stock its 21st largest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. International Assets Investment Management LLC boosted its holdings in shares of ARM by 14,351.1% in the third quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock valued at $1,161,670,000 after acquiring an additional 806,676 shares in the last quarter. Sei Investments Co. lifted its position in ARM by 551.6% in the second 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 period. Mirae Asset Global Investments Co. Ltd. boosted its stake in ARM by 186.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock valued at $52,279,000 after purchasing an additional 233,909 shares in the last quarter. Mark Asset Management LP increased its position in shares of ARM by 14.2% during the 2nd quarter. Mark Asset Management LP now owns 238,589 shares of the company’s stock valued at $39,038,000 after purchasing an additional 29,686 shares during the period. Finally, Marsico Capital Management LLC bought a new stake in shares of ARM in the 2nd quarter worth $33,207,000. 7.53% of the stock is currently owned by institutional investors.

ARM Stock Performance

ARM stock opened at $134.29 on Monday. The firm has a 50 day simple moving average of $142.98 and a 200 day simple moving average of $141.70. Arm Holdings plc has a 52 week low of $60.37 and a 52 week high of $188.75. The stock has a market cap of $140.71 billion, a P/E ratio of 223.82, a P/E/G ratio of 6.71 and a beta of 5.40.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. ARM had a net margin of 18.13% and a return on equity of 13.69%. The company had revenue of $844.00 million during the quarter, compared to the consensus estimate of $810.03 million. During the same quarter in the prior year, the firm earned $0.36 EPS. The company’s revenue was up 4.7% compared to the same quarter last year. Sell-side analysts predict that Arm Holdings plc will post 0.79 EPS for the current year.

Wall Street Analysts Forecast Growth

ARM has been the subject of several research reports. Barclays raised their target price on ARM from $125.00 to $145.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Benchmark began coverage on shares of ARM in a research report on Monday, September 16th. They set a “hold” rating for the company. JPMorgan Chase & Co. boosted their target price on shares of ARM from $140.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Sanford C. Bernstein cut shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 target price for the company. in a report on Thursday, October 31st. Finally, The Goldman Sachs Group lifted their price target on shares of ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $150.32.

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.