Griffin Asset Management Inc. Invests $246,000 in Arm Holdings plc (NASDAQ:ARM)

Griffin Asset Management Inc. bought a new stake in shares of Arm Holdings plc (NASDAQ:ARM) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,970 shares of the company’s stock, valued at approximately $246,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Schroder Investment Management Group bought a new position in shares of ARM during the fourth quarter valued at about $480,194,000. Wellington Management Group LLP bought a new position in ARM during the 3rd quarter valued at approximately $152,896,000. Mubadala Investment Co PJSC purchased a new stake in ARM in the 4th quarter worth approximately $150,437,000. Robeco Schweiz AG grew its position in shares of ARM by 220.3% in the 4th quarter. Robeco Schweiz AG now owns 2,130,000 shares of the company’s stock worth $160,059,000 after buying an additional 1,465,000 shares during the last quarter. Finally, American Century Companies Inc. purchased a new position in shares of ARM during the third quarter valued at approximately $54,800,000. 7.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. BNP Paribas lowered 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. Guggenheim lifted their target price on shares of ARM from $110.00 to $169.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Mizuho increased their price target on shares of ARM from $100.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a research report on Thursday, May 9th. Finally, Wells Fargo & Company upped their target price on ARM from $100.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of 103.68.

ARM Stock Performance

ARM stock opened at 163.62 on Friday. Arm Holdings plc has a 1-year low of 46.50 and a 1-year high of 177.31. The business has a fifty day moving average price of 126.31 and a 200-day moving average price of 110.97.

ARM (NASDAQ:ARM) last posted its earnings results on Wednesday, May 8th. The company reported 0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of 0.30 by 0.06. ARM had a net margin of 9.46% and a return on equity of 16.94%. The business had revenue of 928.00 million for the quarter, compared to analysts’ expectations of 865.94 million. During the same quarter in the prior year, the business earned $0.02 EPS. The business’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.

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.