Zweig DiMenna Associates LLC Has $1.44 Million Holdings in Arm Holdings plc (NASDAQ:ARM)

Zweig DiMenna Associates LLC trimmed its position in shares of Arm Holdings plc (NASDAQ:ARM) by 72.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 10,092 shares of the company’s stock after selling 25,933 shares during the period. Zweig DiMenna Associates LLC’s holdings in ARM were worth $1,443,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of ARM in the first quarter valued at approximately $25,000. ORG Partners LLC bought a new stake in ARM in the 3rd quarter valued at $29,000. Transcendent Capital Group LLC acquired a new stake in ARM during the 2nd quarter valued at $33,000. Gilliland Jeter Wealth Management LLC boosted its position in ARM by 83.0% during the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after purchasing an additional 117 shares during the period. Finally, RiverPark Advisors LLC increased its holdings in shares of ARM by 45.3% in the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after purchasing an additional 77 shares during the last quarter. 7.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ARM. Deutsche Bank Aktiengesellschaft raised their target price on shares of ARM from $82.00 to $105.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Hsbc Global Res upgraded ARM to a “moderate sell” rating in a report on Monday, July 29th. Morgan Stanley raised ARM from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $107.00 to $190.00 in a research report on Friday, July 19th. TD Cowen raised ARM to a “strong-buy” rating in a report on Monday, September 16th. Finally, Evercore ISI upped their price objective on ARM from $145.00 to $173.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $138.57.

ARM Stock Down 1.0 %

NASDAQ:ARM opened at $141.04 on Friday. Arm Holdings plc has a twelve month low of $47.12 and a twelve month high of $188.75. The stock’s 50-day simple moving average is $138.71 and its 200 day simple moving average is $135.66. The firm has a market capitalization of $147.79 billion and a PE ratio of 361.65.

ARM (NASDAQ:ARM) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. The company had revenue of $939.00 million for the quarter, compared to the consensus estimate of $905.53 million. ARM had a net margin of 12.12% and a return on equity of 18.97%. The firm’s quarterly revenue was up 39.1% compared to the same quarter last year. During the same period last year, the company posted $0.24 EPS. On average, analysts anticipate that Arm Holdings plc will post 0.86 EPS for the current fiscal year.

ARM 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.