Healthcare of Ontario Pension Plan Trust Fund Acquires 12,936 Shares of Arm Holdings plc (NASDAQ:ARM)

Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Arm Holdings plc (NASDAQ:ARM) by 119.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,788 shares of the company’s stock after acquiring an additional 12,936 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in ARM were worth $3,402,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Transcendent Capital Group LLC bought a new stake in shares of ARM during the 2nd quarter valued at about $33,000. ORG Partners LLC bought a new stake in ARM during the 3rd quarter valued at approximately $29,000. RiverPark Advisors LLC boosted its position in ARM by 45.3% during the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after acquiring an additional 77 shares in the last quarter. Mather Group LLC. bought a new position in shares of ARM in the 2nd quarter worth approximately $41,000. Finally, Gilliland Jeter Wealth Management LLC lifted its stake in shares of ARM by 83.0% in the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock valued at $37,000 after purchasing an additional 117 shares during the period. 7.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ARM. Loop Capital upped their price target on ARM from $130.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Needham & Company LLC reiterated a “hold” rating on shares of ARM in a research note on Thursday, November 7th. Barclays boosted their price objective on shares of ARM from $125.00 to $145.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Wells Fargo & Company started coverage on shares of ARM in a research note on Friday, November 22nd. They set an “overweight” rating and a $155.00 target price for the company. Finally, The Goldman Sachs Group boosted their price target on ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, ARM presently has a consensus rating of “Moderate Buy” and a consensus price target of $150.32.

ARM Stock Up 0.7 %

ARM opened at $134.29 on Friday. The stock has a market capitalization of $140.71 billion, a price-to-earnings ratio of 223.82, a PEG ratio of 6.66 and a beta of 5.40. The firm has a 50 day moving average price of $142.98 and a 200-day moving average price of $141.50. Arm Holdings plc has a twelve month low of $60.37 and a twelve month high of $188.75.

ARM (NASDAQ:ARM) last announced its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. The business had revenue of $844.00 million during the quarter, compared to analyst estimates of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.36 EPS. As a group, analysts expect that Arm Holdings plc will post 0.79 earnings per share for the current year.

ARM Company 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.