8,527 Shares in Arm Holdings plc (NASDAQ:ARM) Bought by Profund Advisors LLC

Profund Advisors LLC purchased a new stake in Arm Holdings plc (NASDAQ:ARM) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 8,527 shares of the company’s stock, valued at approximately $1,395,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Lazard Asset Management LLC boosted its holdings in ARM by 393.0% in the first 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 during the last quarter. Mizuho Securities Co. Ltd. raised its stake in 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 buying an additional 11,220 shares during the last quarter. Rheos Capital Works Inc. raised its stake in ARM by 48.1% during the first quarter. Rheos Capital Works Inc. now owns 256,900 shares of the company’s stock worth $32,110,000 after buying an additional 83,400 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in ARM in the first quarter valued at $222,000. Finally, Prudential PLC boosted its position in ARM by 38.1% during the second quarter. Prudential PLC now owns 108,653 shares of the company’s stock valued at $17,778,000 after acquiring an additional 29,992 shares during the last quarter. Institutional investors and hedge funds own 7.53% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ARM shares. William Blair initiated coverage on ARM in a research note on Wednesday, September 18th. They issued an “outperform” rating on the stock. Bank of America raised their price objective on shares of ARM from $150.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Citigroup boosted their target price on shares of ARM from $150.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Guggenheim lifted their price target 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. Finally, Barclays increased their price objective on shares of ARM from $105.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $125.96.

ARM Trading Up 2.0 %

Shares of ARM opened at $141.72 on Tuesday. The stock has a 50 day moving average of $134.84 and a 200 day moving average of $132.83. Arm Holdings plc has a 12 month low of $46.50 and a 12 month high of $188.75. The company has a market capitalization of $148.50 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 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The company had revenue of $939.00 million for the quarter, compared to analysts’ expectations of $905.53 million. ARM had a return on equity of 18.97% and a net margin of 12.12%. The business’s revenue for the quarter was up 39.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.24 EPS. As a group, equities research analysts predict that Arm Holdings plc will post 0.82 earnings per share for the current year.

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.