Park Avenue Securities LLC Increases Position in Arm Holdings plc (NASDAQ:ARM)

Park Avenue Securities LLC boosted its position in Arm Holdings plc (NASDAQ:ARM) by 29.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,590 shares of the company’s stock after buying an additional 810 shares during the quarter. Park Avenue Securities LLC’s holdings in ARM were worth $443,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the business. Envestnet Asset Management Inc. grew its stake in ARM by 20.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 37,902 shares of the company’s stock worth $6,202,000 after buying an additional 6,311 shares in the last quarter. Pacer Advisors Inc. raised its holdings in ARM by 674.8% in the 2nd quarter. Pacer Advisors Inc. now owns 6,493 shares of the company’s stock worth $1,062,000 after purchasing an additional 5,655 shares in the last quarter. Ensign Peak Advisors Inc purchased a new position in shares of ARM during the 2nd quarter worth approximately $4,729,000. Bank of Montreal Can bought a new stake in ARM during the second quarter worth about $5,684,000. Finally, Point72 Hong Kong Ltd purchased a new position in ARM during the second quarter valued at $573,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on ARM. UBS Group initiated coverage on shares of ARM in a research note on Monday, November 25th. They set a “buy” rating and a $160.00 target price on the stock. Needham & Company LLC reiterated a “hold” rating on shares of ARM in a research report on Thursday, November 7th. Sanford C. Bernstein downgraded ARM from a “market perform” rating to an “underperform” rating and set a $100.00 target price for the company. in a research report on Thursday, October 31st. The Goldman Sachs Group increased their price target on ARM from $144.00 to $159.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. raised their price target on ARM from $140.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $152.09.

ARM Price Performance

ARM stock opened at $166.56 on Friday. The business has a fifty day moving average price of $138.72 and a 200-day moving average price of $141.01. Arm Holdings plc has a 1-year low of $69.32 and a 1-year high of $188.75. The stock has a market capitalization of $174.53 billion, a price-to-earnings ratio of 277.60, a PEG ratio of 7.25 and a beta of 4.53.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.04. ARM had a return on equity of 13.69% and a net margin of 18.13%. The firm had revenue of $844.00 million during the quarter, compared to analysts’ expectations of $810.03 million. During the same period last year, the business posted $0.36 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities research analysts anticipate that Arm Holdings plc will post 0.84 earnings per share 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.