Sunbelt Securities Inc. Invests $169,000 in Arm Holdings plc (NASDAQ:ARM)

Sunbelt Securities Inc. purchased a new position in Arm Holdings plc (NASDAQ:ARM) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 1,350 shares of the company’s stock, valued at approximately $169,000.

A number of other hedge funds also recently bought and sold shares of ARM. Kingswood Wealth Advisors LLC bought a new position in ARM in the 1st quarter valued at approximately $440,000. TB Alternative Assets Ltd. purchased a new stake in shares of ARM during the 1st quarter valued at about $3,706,000. Annex Advisory Services LLC bought a new stake in shares of ARM in the first quarter worth approximately $263,000. Rheos Capital Works Inc. raised its holdings in shares of ARM by 48.1% during the first quarter. Rheos Capital Works Inc. now owns 256,900 shares of the company’s stock valued at $32,110,000 after purchasing an additional 83,400 shares during the last quarter. Finally, David J Yvars Group bought a new position in ARM during the first quarter valued at approximately $2,793,000. Institutional investors own 7.53% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on ARM. The Goldman Sachs Group lifted their target price on shares of ARM from $110.00 to $143.00 and gave the stock a “buy” rating in a research report on Tuesday, June 11th. Susquehanna reissued a “neutral” rating and issued a $85.00 target price on shares of ARM in a report on Thursday, April 4th. BNP Paribas downgraded ARM from an “outperform” rating to a “neutral” rating and set a $100.00 price target for the company. in a research note on Friday, April 19th. KeyCorp raised their price objective on shares of ARM from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Finally, Bank of America increased their price target on shares of ARM from $150.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, ARM presently has an average rating of “Hold” and an average target price of 103.68.

ARM Trading Down 2.0 %

ARM stock opened at 163.62 on Friday. Arm Holdings plc has a 52 week low of 46.50 and a 52 week high of 177.31. The company has a fifty day simple moving average of 124.78 and a two-hundred day simple moving average of 110.28.

ARM (NASDAQ:ARM) last announced its quarterly earnings results on Wednesday, May 8th. The company reported 0.36 EPS for the quarter, beating analysts’ consensus estimates of 0.30 by 0.06. ARM had a net margin of 9.46% and a return on equity of 16.94%. The firm had revenue of 928.00 million during the quarter, compared to the consensus estimate of 865.94 million. During the same quarter last year, the firm earned $0.02 EPS. The firm’s revenue for the quarter was up 46.6% compared to the same quarter last year. On average, equities analysts predict that Arm Holdings plc will post 0.85 EPS for the current fiscal year.

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.