Purus Wealth Management LLC Invests $276,000 in Arm Holdings plc (NASDAQ:ARM)

Purus Wealth Management LLC acquired a new stake in Arm Holdings plc (NASDAQ:ARM) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 1,684 shares of the company’s stock, valued at approximately $276,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Schroder Investment Management Group bought a new stake in ARM in the 4th quarter valued at $480,194,000. Wellington Management Group LLP lifted its position in ARM by 56.4% in the 4th quarter. Wellington Management Group LLP now owns 4,468,720 shares of the company’s stock valued at $335,802,000 after acquiring an additional 1,611,926 shares in the last quarter. Robeco Schweiz AG increased its stake in ARM by 220.3% in the 4th quarter. Robeco Schweiz AG now owns 2,130,000 shares of the company’s stock valued at $160,059,000 after buying an additional 1,465,000 shares during the last quarter. Mubadala Investment Co PJSC acquired a new stake in ARM in the 4th quarter valued at $150,437,000. Finally, Capstone Investment Advisors LLC increased its stake in ARM by 362.6% in the 4th quarter. Capstone Investment Advisors LLC now owns 902,000 shares of the company’s stock valued at $67,781,000 after buying an additional 707,000 shares during the last quarter. 7.53% of the stock is owned by institutional investors.

ARM Stock Down 1.1 %

NASDAQ ARM opened at $136.84 on Wednesday. The company has a market capitalization of $143.39 billion and a P/E ratio of 148.06. Arm Holdings plc has a 12-month low of $46.50 and a 12-month high of $188.75. The firm has a 50-day moving average price of $138.02 and a two-hundred day moving average price of $132.76.

ARM (NASDAQ:ARM) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. The firm had revenue of $939.00 million during 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 business’s revenue for the quarter was up 39.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.24 EPS. Equities analysts expect that Arm Holdings plc will post 0.82 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on ARM. Barclays lifted their price target on shares of ARM from $105.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Bank of America lifted their price target on shares of ARM from $150.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, June 17th. The Goldman Sachs Group lifted their price target on shares of ARM from $110.00 to $143.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. Hsbc Global Res upgraded shares of ARM to a “moderate sell” rating in a research note on Monday, July 29th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ARM in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $123.04.

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.