Dock Street Asset Management Inc. Grows Holdings in Arm Holdings plc (NASDAQ:ARM)

Dock Street Asset Management Inc. grew its stake in shares of Arm Holdings plc (NASDAQ:ARM) by 8.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 49,011 shares of the company’s stock after buying an additional 4,020 shares during the period. ARM accounts for 0.7% of Dock Street Asset Management Inc.’s portfolio, making the stock its 24th largest position. Dock Street Asset Management Inc.’s holdings in ARM were worth $6,046,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. ORG Partners LLC bought a new stake in ARM in the third quarter worth $29,000. Gilliland Jeter Wealth Management LLC increased its holdings in shares of ARM by 83.0% in the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after buying an additional 117 shares during the period. Quantbot Technologies LP bought a new stake in shares of ARM in the 3rd quarter valued at about $52,000. Berbice Capital Management LLC purchased a new stake in ARM during the 4th quarter valued at about $49,000. Finally, Farther Finance Advisors LLC grew its position in ARM by 45.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock worth $60,000 after acquiring an additional 131 shares during the last quarter. 7.53% of the stock is owned by institutional investors.

ARM Trading Down 3.3 %

ARM stock opened at $167.47 on Friday. Arm Holdings plc has a 12 month low of $72.25 and a 12 month high of $188.75. The business’s fifty day simple moving average is $144.13 and its two-hundred day simple moving average is $140.00. The company has a market capitalization of $175.48 billion, a price-to-earnings ratio of 279.12, a price-to-earnings-growth ratio of 7.46 and a beta of 4.56.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share 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 analyst estimates of $810.03 million. During the same period in the previous year, the business earned $0.36 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities research analysts predict that Arm Holdings plc will post 0.84 EPS for the current year.

Analysts Set New Price Targets

ARM has been the subject of a number of analyst reports. Raymond James increased their price objective on ARM from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday. Wells Fargo & Company increased their price target on shares of ARM from $162.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday. Loop Capital boosted their price objective on shares of ARM from $130.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Evercore ISI raised their target price on ARM from $176.00 to $202.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, TD Cowen upped their price target on ARM from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $162.17.

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.