Ascent Wealth Partners LLC Invests $2.82 Million in Arm Holdings plc (NASDAQ:ARM)

Ascent Wealth Partners LLC bought a new position in shares of Arm Holdings plc (NASDAQ:ARM) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 19,733 shares of the company’s stock, valued at approximately $2,822,000.

Several other institutional investors also recently modified their holdings of ARM. International Assets Investment Management LLC grew its position in shares of ARM by 14,351.1% in the 3rd 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 during the period. Sei Investments Co. grew its position 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 purchasing an additional 490,415 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of ARM by 186.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock valued at $52,279,000 after purchasing an additional 233,909 shares during the period. Marsico Capital Management LLC acquired a new position in shares of ARM in the 2nd quarter valued at approximately $33,207,000. Finally, Zevenbergen Capital Investments LLC acquired a new position in shares of ARM in the 1st quarter valued at approximately $23,704,000. 7.53% of the stock is currently owned by institutional investors and hedge funds.

ARM Stock Performance

ARM traded up $3.75 during trading hours on Thursday, reaching $148.43. The company’s stock had a trading volume of 5,115,795 shares, compared to its average volume of 10,890,584. Arm Holdings plc has a 52 week low of $49.82 and a 52 week high of $188.75. The company’s 50-day moving average is $141.27 and its 200-day moving average is $137.49. The firm has a market cap of $155.53 billion, a PE ratio of 374.05, a price-to-earnings-growth ratio of 6.45 and a beta of 5.40.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. ARM had a return on equity of 18.97% and a net margin of 12.12%. The firm had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. During the same period in the prior year, the firm posted $0.36 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities analysts anticipate that Arm Holdings plc will post 0.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Morgan Stanley upgraded ARM from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $107.00 to $190.00 in a research report on Friday, July 19th. Evercore ISI boosted their target price on ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a research note on Thursday. TD Cowen boosted their target price on ARM from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday. Barclays boosted their target price on ARM from $125.00 to $145.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Sanford C. Bernstein cut ARM from a “market perform” rating to an “underperform” rating and set a $100.00 target price on the stock. in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, ARM has a consensus rating of “Moderate Buy” and a consensus target price of $140.38.

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.