3Chopt Investment Partners LLC Makes New Investment in Arm Holdings plc (NASDAQ:ARM)

3Chopt Investment Partners LLC bought a new stake 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. The institutional investor bought 5,635 shares of the company’s stock, valued at approximately $922,000.

Several other hedge funds have also recently made changes to their positions in the business. Mark Sheptoff Financial Planning LLC purchased a new stake in ARM in the 1st quarter worth about $25,000. Transcendent Capital Group LLC acquired a new stake in ARM in the second quarter valued at approximately $33,000. SOA Wealth Advisors LLC. acquired a new stake in ARM in the first quarter valued at approximately $35,000. RiverPark Advisors LLC boosted its stake in ARM by 45.3% in the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after acquiring an additional 77 shares in the last quarter. Finally, Mather Group LLC. purchased a new position in shares of ARM in the second quarter worth $41,000. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

ARM Stock Down 1.8 %

ARM stock opened at $143.01 on Tuesday. The firm has a market cap of $149.85 billion and a PE ratio of 158.68. Arm Holdings plc has a 52-week low of $46.50 and a 52-week high of $188.75. The company’s 50 day moving average is $132.88 and its two-hundred day moving average is $133.37.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. ARM had a net margin of 12.12% and a return on equity of 18.97%. The company had revenue of $939.00 million for the quarter, compared to analyst estimates of $905.53 million. During the same period in the prior year, the business earned $0.24 EPS. The firm’s quarterly revenue was up 39.1% on a year-over-year basis. On average, equities research analysts anticipate that Arm Holdings plc will post 0.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ARM. Barclays raised their price target on shares of ARM from $105.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Sanford C. Bernstein raised shares of ARM from an “underperform” rating to a “market perform” rating and boosted their target price for the stock from $92.00 to $100.00 in a research note on Wednesday, August 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a research note on Thursday, August 1st. Loop Capital upped their price objective on shares of ARM from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Finally, Morgan Stanley raised shares of ARM from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $107.00 to $190.00 in a research note on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, ARM currently has an average rating of “Moderate Buy” and an average target price of $125.96.

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.