Cherry Creek Investment Advisors Inc. Acquires 2,652 Shares of Arm Holdings plc (NASDAQ:ARM)

Cherry Creek Investment Advisors Inc. grew its stake in shares of Arm Holdings plc (NASDAQ:ARM) by 121.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,840 shares of the company’s stock after acquiring an additional 2,652 shares during the quarter. Cherry Creek Investment Advisors Inc.’s holdings in ARM were worth $597,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Pacer Advisors Inc. raised its stake in ARM by 5.0% during the 4th quarter. Pacer Advisors Inc. now owns 7,532 shares of the company’s stock valued at $929,000 after buying an additional 362 shares during the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of ARM in the 4th quarter worth approximately $471,000. Blue Trust Inc. boosted its holdings in shares of ARM by 13.6% in the fourth quarter. Blue Trust Inc. now owns 1,662 shares of the company’s stock worth $205,000 after buying an additional 199 shares during the last quarter. Kingswood Wealth Advisors LLC grew its position in ARM by 13.0% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 3,932 shares of the company’s stock valued at $485,000 after buying an additional 453 shares during the period. Finally, Juncture Wealth Strategies LLC increased its holdings in ARM by 39.0% during the fourth quarter. Juncture Wealth Strategies LLC now owns 2,488 shares of the company’s stock valued at $307,000 after buying an additional 698 shares during the last quarter. 7.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ARM shares. Susquehanna boosted their price objective on shares of ARM from $118.00 to $140.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. TD Cowen boosted their price target on ARM from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 7th. UBS Group started coverage on ARM in a research note on Monday, November 25th. They issued a “buy” rating and a $160.00 price objective on the stock. Sanford C. Bernstein downgraded ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price objective for the company. in a research note on Thursday, October 31st. Finally, Wells Fargo & Company increased their target price on shares of ARM from $155.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $152.09.

ARM Stock Down 10.4 %

NASDAQ ARM opened at $145.60 on Tuesday. Arm Holdings plc has a 52 week low of $69.32 and a 52 week high of $188.75. The firm has a market capitalization of $152.56 billion, a price-to-earnings ratio of 242.67, a PEG ratio of 8.41 and a beta of 4.53. The company has a fifty day moving average of $140.00 and a two-hundred day moving average of $140.42.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.26 by $0.04. ARM had a net margin of 18.13% and a return on equity of 13.69%. The company had revenue of $844.00 million for the quarter, compared to the consensus estimate of $810.03 million. During the same period in the prior year, the firm posted $0.36 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. Equities research analysts anticipate that Arm Holdings plc will post 0.84 EPS 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.