3,250 Shares in Arm Holdings plc (NASDAQ:ARM) Bought by O Neil Global Advisors Inc.

O Neil Global Advisors Inc. purchased a new stake in Arm Holdings plc (NASDAQ:ARM) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,250 shares of the company’s stock, valued at approximately $532,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lazard Asset Management LLC boosted 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 buying an additional 20,117 shares during the last quarter. Mizuho Securities Co. Ltd. boosted its position in ARM by 156.3% in the 2nd quarter. Mizuho Securities Co. Ltd. now owns 18,400 shares of the company’s stock worth $3,011,000 after purchasing an additional 11,220 shares in the last quarter. Rheos Capital Works Inc. increased 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 in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in shares of ARM in the 1st quarter valued at $222,000. Finally, Prudential PLC boosted its holdings in ARM by 38.1% during the second quarter. Prudential PLC now owns 108,653 shares of the company’s stock worth $17,778,000 after buying an additional 29,992 shares in the last quarter. 7.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ARM. HSBC downgraded shares of ARM from a “hold” rating to a “reduce” rating in a research report on Monday, July 29th. Rosenblatt Securities reissued a “buy” rating and issued a $180.00 price objective on shares of ARM in a report on Thursday, August 1st. Bank of America upped their target price on ARM from $150.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. Loop Capital lifted their price target on shares of ARM from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Finally, The Goldman Sachs Group upped their price objective on shares of ARM from $110.00 to $143.00 and gave the stock a “buy” rating in a research report on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $123.04.

ARM Stock Up 5.9 %

NASDAQ:ARM opened at $147.37 on Friday. Arm Holdings plc has a 52 week low of $46.50 and a 52 week high of $188.75. The stock’s fifty day moving average is $139.85 and its two-hundred day moving average is $132.85. The company has a market capitalization of $154.42 billion and a P/E ratio of 149.28.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05. The firm had revenue of $939.00 million for the quarter, compared to analyst estimates of $905.53 million. ARM had a net margin of 12.12% and a return on equity of 18.97%. ARM’s revenue was up 39.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.24 EPS. Sell-side analysts anticipate that Arm Holdings plc will post 0.82 earnings per share for the current fiscal year.

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.