Smith Group Asset Management LLC Takes $2.96 Million Position in Arm Holdings plc (NASDAQ:ARM)

Smith Group Asset Management LLC acquired a new position in Arm Holdings plc (NASDAQ:ARM) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 24,000 shares of the company’s stock, valued at approximately $2,961,000.

A number of other large investors have also recently added to or reduced their stakes in ARM. International Assets Investment Management LLC boosted its stake in shares of ARM by 14,351.1% during 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of ARM by 186.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock worth $52,279,000 after purchasing an additional 233,909 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of ARM by 21.7% during the third quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock worth $183,265,000 after buying an additional 228,467 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of ARM in the fourth quarter valued at approximately $22,705,000. Finally, Erste Asset Management GmbH purchased a new position in shares of ARM during the third quarter valued at approximately $11,646,000. 7.53% of the stock is owned by institutional investors and hedge funds.

ARM Stock Performance

Shares of NASDAQ:ARM opened at $149.47 on Wednesday. The business’s 50-day simple moving average is $140.66 and its 200 day simple moving average is $140.00. The company has a market cap of $156.62 billion, a P/E ratio of 249.12, a PEG ratio of 8.41 and a beta of 4.53. Arm Holdings plc has a one year low of $69.32 and a one year high of $188.75.

ARM (NASDAQ:ARM) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. The company had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 earnings per share. Analysts predict that Arm Holdings plc will post 0.84 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have commented on the stock. Susquehanna lifted their target price on shares of ARM from $118.00 to $140.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Evercore ISI lifted their price objective on ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Loop Capital increased their target price on ARM from $130.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. UBS Group assumed coverage on ARM in a report on Monday, November 25th. They issued a “buy” rating and a $160.00 price target for the company. Finally, The Goldman Sachs Group increased their price objective on shares of ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $152.09.

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.