Russell Investments Group Ltd. Purchases 154,460 Shares of Arm Holdings plc (NASDAQ:ARM)

Russell Investments Group Ltd. increased its holdings in Arm Holdings plc (NASDAQ:ARM) by 42.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 519,619 shares of the company’s stock after acquiring an additional 154,460 shares during the period. Russell Investments Group Ltd.’s holdings in ARM were worth $39,047,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Hoey Investments Inc. purchased a new stake in shares of ARM during the 3rd quarter valued at $27,000. Centerpoint Advisors LLC bought a new stake in ARM in the third quarter worth about $32,000. Ancora Advisors LLC purchased a new position in ARM in the third quarter valued at about $32,000. Bamco Inc. NY bought a new position in shares of ARM during the 3rd quarter valued at approximately $37,000. Finally, Bfsg LLC purchased a new stake in shares of ARM during the 4th quarter worth approximately $53,000. 7.53% of the stock is currently owned by institutional investors.

ARM Trading Up 1.3 %

Shares of ARM stock opened at 103.24 on Tuesday. The company has a 50 day simple moving average of 124.56 and a two-hundred day simple moving average of 88.73. Arm Holdings plc has a 1 year low of 46.50 and a 1 year high of 164.00.

ARM (NASDAQ:ARM) last posted its quarterly earnings data on Wednesday, February 7th. The company reported 0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of 0.25 by 0.04. The company had revenue of 824.00 million for the quarter, compared to the consensus estimate of 762.50 million. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. As a group, equities research analysts expect that Arm Holdings plc will post 0.36 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. New Street Research reissued a “neutral” rating and issued a $110.00 target price on shares of ARM in a research report on Tuesday, February 27th. KeyCorp lifted their price objective on ARM from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Evercore ISI initiated coverage on shares of ARM in a report on Tuesday, April 16th. They set an “outperform” rating and a $156.00 price objective on the stock. The Goldman Sachs Group lifted their target price on shares of ARM from $95.00 to $108.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Finally, TD Cowen upped their price target on shares of ARM from $80.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, ARM presently has an average rating of “Hold” and an average target price of 92.08.

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.