1,500 Shares in Arm Holdings plc (NASDAQ:ARM) Bought by Wellington Shields Capital Management LLC

Wellington Shields Capital Management LLC acquired a new position in shares of Arm Holdings plc (NASDAQ:ARM) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,500 shares of the company’s stock, valued at approximately $245,000.

A number of other large investors have also modified their holdings of the stock. Lazard Asset Management LLC lifted its stake in shares of ARM by 393.0% in the first quarter. Lazard Asset Management LLC now owns 25,236 shares of the company’s stock worth $3,154,000 after acquiring an additional 20,117 shares in the last quarter. Mizuho Securities Co. Ltd. boosted its stake in shares of ARM by 156.3% during the 2nd quarter. Mizuho Securities Co. Ltd. now owns 18,400 shares of the company’s stock valued at $3,011,000 after buying an additional 11,220 shares during the last quarter. Rheos Capital Works Inc. grew its position in shares of ARM by 48.1% during the first quarter. Rheos Capital Works Inc. now owns 256,900 shares of the company’s stock worth $32,110,000 after buying an additional 83,400 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in shares of ARM in the first quarter worth $222,000. Finally, Quadrature Capital Ltd acquired a new stake in ARM in the first quarter valued at $2,620,000. Institutional investors and hedge funds own 7.53% of the company’s stock.

ARM Price Performance

Shares of NASDAQ ARM traded down $2.77 during midday trading on Friday, reaching $120.32. 867,074 shares of the company traded hands, compared to its average volume of 12,138,832. The stock has a 50-day moving average price of $143.99 and a 200 day moving average price of $132.75. The company has a market cap of $126.08 billion and a price-to-earnings ratio of 140.35. Arm Holdings plc has a 52 week low of $46.50 and a 52 week high of $188.75.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. ARM had a net margin of 12.12% and a return on equity of 18.97%. The company had revenue of $939.00 million during the quarter, compared to analyst estimates of $905.53 million. During the same period in the prior year, the business posted $0.24 EPS. The business’s revenue for the quarter was up 39.1% compared to the same quarter last year. As a group, analysts expect that Arm Holdings plc will post 0.82 EPS for the current year.

Analyst Upgrades and Downgrades

ARM has been the subject of several recent analyst reports. Rosenblatt Securities reissued a “buy” rating and set a $180.00 price objective on shares of ARM in a report on Thursday, August 1st. Hsbc Global Res upgraded ARM to a “moderate sell” rating in a research note on Monday, July 29th. Sanford C. Bernstein upgraded ARM from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $92.00 to $100.00 in a research report on Wednesday, August 7th. Morgan Stanley upgraded ARM from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $107.00 to $190.00 in a report on Friday, July 19th. Finally, Needham & Company LLC restated a “hold” rating on shares of ARM in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $121.56.

About ARM

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.