Arm Holdings plc (NASDAQ:ARM) Stock Position Raised by Savoie Capital LLC

Savoie Capital LLC lifted its stake in shares of Arm Holdings plc (NASDAQ:ARM) by 270.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,700 shares of the company’s stock after purchasing an additional 10,000 shares during the period. Savoie Capital LLC’s holdings in ARM were worth $1,959,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of ARM. International Assets Investment Management LLC grew its stake in ARM by 14,351.1% in the third quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock valued at $1,161,670,000 after purchasing an additional 806,676 shares in the last quarter. Sei Investments Co. grew its stake in shares of ARM by 551.6% in the 2nd quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock valued at $94,790,000 after buying an additional 490,415 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in ARM by 186.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock worth $52,279,000 after buying an additional 233,909 shares during the last quarter. Mark Asset Management LP raised its position in ARM by 14.2% during the second quarter. Mark Asset Management LP now owns 238,589 shares of the company’s stock valued at $39,038,000 after acquiring an additional 29,686 shares in the last quarter. Finally, State Street Corp grew its position in ARM by 19.2% in the third quarter. State Street Corp now owns 221,854 shares of the company’s stock worth $31,727,000 after acquiring an additional 35,720 shares in the last quarter. 7.53% of the stock is owned by hedge funds and other institutional investors.

ARM Price Performance

ARM stock opened at $139.64 on Tuesday. Arm Holdings plc has a fifty-two week low of $62.75 and a fifty-two week high of $188.75. The firm has a market capitalization of $146.32 billion, a price-to-earnings ratio of 232.74, a PEG ratio of 7.03 and a beta of 4.71. The company’s 50 day simple moving average is $142.48 and its 200 day simple moving average is $142.67.

ARM (NASDAQ:ARM) last announced its earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.26 by $0.04. The firm had revenue of $844.00 million for the quarter, compared to the consensus estimate of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the company posted $0.36 EPS. As a group, analysts predict that Arm Holdings plc will post 0.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ARM shares. Loop Capital lifted their price objective on shares of ARM from $130.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Evercore ISI boosted their price target on ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Wells Fargo & Company started coverage on ARM in a report on Friday, November 22nd. They set an “overweight” rating and a $155.00 price objective on the stock. JPMorgan Chase & Co. boosted their target price on ARM from $140.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Finally, Barclays lifted their price target on shares of ARM from $125.00 to $145.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $150.32.

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.