37,009 Shares in Arm Holdings plc (NASDAQ:ARM) Purchased by Reynders McVeigh Capital Management LLC

Reynders McVeigh Capital Management LLC bought a new position in shares of Arm Holdings plc (NASDAQ:ARM) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 37,009 shares of the company’s stock, valued at approximately $5,293,000.

Other institutional investors have also recently made changes to their positions in the company. Transcendent Capital Group LLC bought a new position in ARM during the second quarter valued at approximately $33,000. ORG Partners LLC bought a new position in ARM during the third quarter valued at approximately $29,000. RiverPark Advisors LLC boosted its stake in ARM by 45.3% during 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. Mather Group LLC. bought a new position in ARM during the second quarter valued at approximately $41,000. Finally, Gilliland Jeter Wealth Management LLC boosted its stake in ARM by 83.0% during the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock valued at $37,000 after buying an additional 117 shares during the last quarter. Hedge funds and other institutional investors own 7.53% of the company’s stock.

Analysts Set New Price Targets

ARM has been the subject of a number of research reports. Evercore ISI increased their price target on ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Raymond James initiated coverage on ARM in a research note on Friday, September 13th. They issued an “outperform” rating and a $160.00 price objective for the company. TD Cowen raised their price objective on ARM from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Benchmark began coverage on ARM in a research note on Monday, September 16th. They issued a “hold” rating for the company. Finally, Barclays increased their price target on ARM from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, ARM has an average rating of “Moderate Buy” and a consensus price target of $150.32.

ARM Price Performance

NASDAQ ARM opened at $140.38 on Wednesday. The company has a market cap of $147.09 billion, a PE ratio of 233.97, a price-to-earnings-growth ratio of 7.01 and a beta of 4.67. The stock’s 50 day simple moving average is $142.90 and its 200-day simple moving average is $142.09. Arm Holdings plc has a 1-year low of $60.37 and a 1-year high of $188.75.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.04. ARM had a return on equity of 13.69% and a net margin of 18.13%. The business had revenue of $844.00 million for the quarter, compared to the consensus estimate of $810.03 million. During the same quarter last year, the business posted $0.36 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts anticipate that Arm Holdings plc will post 0.79 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.