ProShare Advisors LLC Acquires New Position in Arm Holdings plc (NASDAQ:ARM)

ProShare Advisors LLC bought a new position in shares of Arm Holdings plc (NASDAQ:ARM) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 101,519 shares of the company’s stock, valued at approximately $16,611,000.

Other hedge funds also recently added to or reduced their stakes in the company. RiverPark Advisors LLC boosted its position in shares of ARM by 45.3% in the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after buying an additional 77 shares in the last quarter. BOKF NA increased its stake in shares of ARM by 33.3% during the 1st quarter. BOKF NA now owns 400 shares of the company’s stock worth $51,000 after purchasing an additional 100 shares in the last quarter. Comerica Bank raised its position in shares of ARM by 6.1% during the 1st quarter. Comerica Bank now owns 1,780 shares of the company’s stock worth $222,000 after purchasing an additional 103 shares during the last quarter. Naples Money Management LLC lifted its stake in ARM by 47.8% in the 1st quarter. Naples Money Management LLC now owns 340 shares of the company’s stock valued at $42,000 after buying an additional 110 shares in the last quarter. Finally, Schwarz Dygos Wheeler Investment Advisors LLC grew its holdings in ARM by 2.9% during the 1st quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 5,159 shares of the company’s stock valued at $645,000 after buying an additional 145 shares during the last quarter. 7.53% of the stock is owned by hedge funds and other institutional investors.

ARM Stock Performance

ARM stock opened at $141.72 on Tuesday. The stock has a 50-day simple moving average of $134.84 and a 200-day simple moving average of $132.83. The firm has a market cap of $148.50 billion and a P/E ratio of 145.57. Arm Holdings plc has a 1 year low of $46.50 and a 1 year high of $188.75.

ARM (NASDAQ:ARM) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) 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 analyst estimates of $905.53 million. ARM had a net margin of 12.12% and a return on equity of 18.97%. The business’s quarterly revenue was up 39.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.24 earnings per share. On average, equities research analysts predict that Arm Holdings plc will post 0.82 EPS for the current year.

Analyst Upgrades and Downgrades

ARM has been the topic of several recent research reports. Citigroup increased their price objective on ARM from $150.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft raised their price target 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. TD Cowen raised shares of ARM to a “strong-buy” rating in a research report on Monday, September 16th. Morgan Stanley upgraded shares of ARM from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $107.00 to $190.00 in a research report on Friday, July 19th. Finally, Evercore ISI boosted their price target on ARM from $145.00 to $173.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $125.96.

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.