19,698 Shares in Arm Holdings plc (NASDAQ:ARM) Bought by L & S Advisors Inc

L & S Advisors Inc purchased a new position in Arm Holdings plc (NASDAQ:ARM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 19,698 shares of the company’s stock, valued at approximately $3,223,000.

Several other large investors have also recently bought and sold shares of the stock. Lazard Asset Management LLC grew its holdings in ARM by 393.0% during the first quarter. Lazard Asset Management LLC now owns 25,236 shares of the company’s stock worth $3,154,000 after acquiring an additional 20,117 shares during the period. Mizuho Securities Co. Ltd. boosted its position in ARM by 156.3% during the 2nd quarter. Mizuho Securities Co. Ltd. now owns 18,400 shares of the company’s stock worth $3,011,000 after acquiring an additional 11,220 shares during the period. Rheos Capital Works Inc. grew its stake in 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 acquiring 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 about $222,000. Finally, Prudential PLC boosted its stake in shares of ARM by 38.1% during the 2nd quarter. Prudential PLC now owns 108,653 shares of the company’s stock valued at $17,778,000 after buying an additional 29,992 shares during the period. Institutional investors and hedge funds own 7.53% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on ARM shares. Evercore ISI boosted their target price on shares of ARM from $145.00 to $173.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Loop Capital increased their target price on shares of ARM from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Daiwa Capital Markets raised ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price target for the company in a research report on Thursday, August 8th. Morgan Stanley upgraded ARM from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $107.00 to $190.00 in a research note on Friday, July 19th. Finally, Hsbc Global Res raised ARM to a “moderate sell” rating in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, ARM has a consensus rating of “Moderate Buy” and an average price target of $123.04.

ARM Trading Down 6.1 %

Shares of ARM stock opened at $138.40 on Tuesday. The firm has a market capitalization of $145.02 billion and a price-to-earnings ratio of 148.06. The firm’s 50 day moving average is $138.93 and its 200-day moving average is $132.79. Arm Holdings plc has a 1 year low of $46.50 and a 1 year high of $188.75.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 18.97% and a net margin of 12.12%. The business’s quarterly revenue was up 39.1% compared to the same quarter last year. During the same period last year, the company earned $0.24 EPS. On average, equities research analysts forecast 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.