Marsico Capital Management LLC Buys Shares of 202,954 Arm Holdings plc (NASDAQ:ARM)

Marsico Capital Management LLC purchased a new stake in Arm Holdings plc (NASDAQ:ARM) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 202,954 shares of the company’s stock, valued at approximately $33,207,000. ARM makes up 1.0% of Marsico Capital Management LLC’s holdings, making the stock its 22nd largest position.

Several other hedge funds and other institutional investors have also modified their holdings of the business. RiverPark Advisors LLC lifted its stake in ARM by 45.3% in the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after buying an additional 77 shares during the last quarter. BOKF NA lifted its position in ARM by 33.3% in the 1st quarter. BOKF NA now owns 400 shares of the company’s stock valued at $51,000 after purchasing an additional 100 shares during the last quarter. Comerica Bank boosted its stake in ARM by 6.1% during the 1st quarter. Comerica Bank now owns 1,780 shares of the company’s stock valued at $222,000 after purchasing an additional 103 shares during the period. Naples Money Management LLC grew its position in ARM by 47.8% in the 1st quarter. Naples Money Management LLC now owns 340 shares of the company’s stock worth $42,000 after purchasing an additional 110 shares during the last quarter. Finally, Schwarz Dygos Wheeler Investment Advisors LLC increased its stake in shares of ARM by 2.9% in the first quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 5,159 shares of the company’s stock valued at $645,000 after purchasing an additional 145 shares during the period. 7.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ARM has been the subject of several analyst reports. Daiwa America upgraded ARM from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 8th. HSBC lowered ARM from a “hold” rating to a “reduce” rating in a research report on Monday, July 29th. Needham & Company LLC reissued a “hold” rating on shares of ARM in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of ARM from $82.00 to $105.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Finally, Guggenheim increased their target price on shares of ARM from $110.00 to $169.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, ARM has a consensus rating of “Moderate Buy” and a consensus price target of $123.04.

ARM Price Performance

ARM stock opened at $136.84 on Wednesday. The firm has a market capitalization of $143.39 billion and a P/E ratio of 148.06. Arm Holdings plc has a 52-week low of $46.50 and a 52-week high of $188.75. The company’s 50 day simple moving average is $138.02 and its 200-day simple moving average is $132.76.

ARM (NASDAQ:ARM) last announced its earnings results 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 company had revenue of $939.00 million for the quarter, compared to the consensus estimate of $905.53 million. ARM had a net margin of 12.12% and a return on equity of 18.97%. The company’s revenue was up 39.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.24 EPS. Sell-side analysts predict that Arm Holdings plc will post 0.82 EPS 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.