Sovereign Financial Group Inc. Has $680,000 Position in Arm Holdings plc (NASDAQ:ARM)

Sovereign Financial Group Inc. lifted its holdings in Arm Holdings plc (NASDAQ:ARM) by 19.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,752 shares of the company’s stock after purchasing an additional 763 shares during the quarter. Sovereign Financial Group Inc.’s holdings in ARM were worth $680,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Lazard Asset Management LLC lifted its position in ARM by 393.0% in the 1st quarter. Lazard Asset Management LLC now owns 25,236 shares of the company’s stock valued at $3,154,000 after acquiring an additional 20,117 shares in the last quarter. Mizuho Securities Co. Ltd. boosted its stake in shares of ARM by 156.3% during the 2nd quarter. Mizuho Securities Co. Ltd. now owns 18,400 shares of the company’s stock worth $3,011,000 after buying an additional 11,220 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of ARM during the 2nd quarter worth about $4,090,000. Rheos Capital Works Inc. grew its holdings in shares of ARM by 48.1% in the 1st quarter. Rheos Capital Works Inc. now owns 256,900 shares of the company’s stock valued at $32,110,000 after acquiring an additional 83,400 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in shares of ARM in the first quarter valued at about $222,000. 7.53% of the stock is owned by institutional investors.

ARM Trading Up 1.6 %

Shares of NASDAQ:ARM opened at $143.60 on Wednesday. The firm has a 50 day moving average of $131.58 and a 200-day moving average of $133.77. Arm Holdings plc has a 12 month low of $46.50 and a 12 month high of $188.75. The stock has a market capitalization of $150.47 billion and a PE ratio of 147.06.

ARM (NASDAQ:ARM) last issued its quarterly 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. ARM had a return on equity of 18.97% and a net margin of 12.12%. The company had revenue of $939.00 million for the quarter, compared to analyst estimates of $905.53 million. During the same quarter last year, the company posted $0.24 EPS. The company’s revenue for the quarter was up 39.1% compared to the same quarter last year. On average, research analysts predict that Arm Holdings plc will post 0.86 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Bank of America increased their price objective on ARM from $150.00 to $180.00 and gave the company a “buy” rating in a report on Monday, June 17th. Rosenblatt Securities reiterated a “buy” rating and set a $180.00 price target on shares of ARM in a report on Thursday, August 1st. Loop Capital raised their price target on ARM from $120.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. TD Cowen upgraded shares of ARM to a “strong-buy” rating in a report on Monday, September 16th. Finally, Guggenheim raised their target price on shares of ARM from $110.00 to $169.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, ARM has a consensus rating of “Moderate Buy” and an average target price 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.