Beck Capital Management LLC Makes New $645,000 Investment in Arm Holdings plc (NASDAQ:ARM)

Beck Capital Management LLC purchased a new stake in shares of Arm Holdings plc (NASDAQ:ARM) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,945 shares of the company’s stock, valued at approximately $645,000.

A number of other hedge funds also recently modified their holdings of ARM. Lazard Asset Management LLC raised its position in ARM by 393.0% during the 1st quarter. Lazard Asset Management LLC now owns 25,236 shares of the company’s stock worth $3,154,000 after purchasing an additional 20,117 shares during the last quarter. Mizuho Securities Co. Ltd. raised its position in shares of ARM by 156.3% during the second quarter. Mizuho Securities Co. Ltd. now owns 18,400 shares of the company’s stock worth $3,011,000 after acquiring an additional 11,220 shares during the last quarter. Rheos Capital Works Inc. lifted its stake in shares of ARM by 48.1% in the first quarter. Rheos Capital Works Inc. now owns 256,900 shares of the company’s stock worth $32,110,000 after acquiring an additional 83,400 shares during the period. Envestnet Portfolio Solutions Inc. bought a new stake in ARM in the first quarter valued at approximately $222,000. Finally, Prudential PLC increased its position in ARM by 38.1% during the 2nd quarter. Prudential PLC now owns 108,653 shares of the company’s stock valued at $17,778,000 after purchasing an additional 29,992 shares during the period. Institutional investors and hedge funds own 7.53% of the company’s stock.

ARM Price Performance

NASDAQ ARM opened at $138.90 on Monday. The company has a fifty day moving average price of $135.56 and a 200-day moving average price of $132.82. Arm Holdings plc has a 1 year low of $46.50 and a 1 year high of $188.75. The firm has a market cap of $145.54 billion and a price-to-earnings ratio of 145.57.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05. The company had revenue of $939.00 million during the quarter, compared to analyst estimates of $905.53 million. ARM had a return on equity of 18.97% and a net margin of 12.12%. ARM’s quarterly revenue was up 39.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.24 earnings per share. On average, research analysts anticipate that Arm Holdings plc will post 0.82 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ARM. Loop Capital boosted their price target on shares of ARM from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. The Goldman Sachs Group upped their price target on shares of ARM from $110.00 to $143.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Evercore ISI lifted their price objective on ARM from $145.00 to $173.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Sanford C. Bernstein upgraded ARM from an “underperform” rating to a “market perform” rating and upped their target price for the company from $92.00 to $100.00 in a research report on Wednesday, August 7th. Finally, Daiwa America upgraded ARM from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $125.96.

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.