Savoie Capital LLC Invests $605,000 in Arm Holdings plc (NASDAQ:ARM)

Savoie Capital LLC bought a new stake in shares of Arm Holdings plc (NASDAQ:ARM) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,700 shares of the company’s stock, valued at approximately $605,000.

Several other institutional investors also recently bought and sold shares of ARM. Beacon Pointe Advisors LLC bought a new stake in ARM in the 4th quarter worth approximately $205,000. Cambridge Investment Research Advisors Inc. increased its position in ARM by 42.0% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 22,210 shares of the company’s stock worth $1,669,000 after purchasing an additional 6,571 shares during the last quarter. Edmond DE Rothschild Holding S.A. increased its position in ARM by 78.9% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 4,535 shares of the company’s stock worth $341,000 after purchasing an additional 2,000 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in ARM by 35.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,405 shares of the company’s stock valued at $256,000 after purchasing an additional 890 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its position in ARM by 86.6% during the fourth quarter. Allianz Asset Management GmbH now owns 18,659 shares of the company’s stock valued at $1,402,000 after purchasing an additional 8,659 shares during the last quarter. 7.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ARM has been the topic of several recent research reports. Daiwa America upgraded shares of ARM from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 8th. Sanford C. Bernstein raised ARM from an “underperform” rating to a “market perform” rating and raised their price objective for the company from $92.00 to $100.00 in a research note on Wednesday, August 7th. Needham & Company LLC reissued a “hold” rating on shares of ARM in a research report on Thursday, August 1st. Hsbc Global Res upgraded ARM to a “moderate sell” rating in a research report on Monday, July 29th. Finally, The Goldman Sachs Group lifted their price objective on shares of ARM from $110.00 to $143.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $125.96.

ARM Stock Performance

NASDAQ ARM opened at $141.72 on Tuesday. The company has a market cap of $148.50 billion and a PE ratio of 145.57. The firm’s 50 day moving average price is $134.84 and its 200-day moving average price is $132.83. Arm Holdings plc has a 52-week low of $46.50 and a 52-week high of $188.75.

ARM (NASDAQ:ARM) last announced 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 business 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% on a year-over-year basis. During the same quarter last year, the firm earned $0.24 EPS. On average, analysts forecast that Arm Holdings plc will post 0.82 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.