Victory Capital Management Inc. Purchases 2,745 Shares of Arm Holdings plc (NASDAQ:ARM)

Victory Capital Management Inc. lifted its stake in Arm Holdings plc (NASDAQ:ARM) by 5.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,421 shares of the company’s stock after buying an additional 2,745 shares during the quarter. Victory Capital Management Inc.’s holdings in ARM were worth $8,069,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC grew its holdings in shares of ARM by 14,351.1% in the third quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock valued at $1,161,670,000 after purchasing an additional 806,676 shares in the last quarter. Sei Investments Co. raised its position in ARM by 551.6% during the 2nd quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock valued at $94,790,000 after purchasing an additional 490,415 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of ARM by 186.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock worth $52,279,000 after buying an additional 233,909 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of ARM by 5.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 290,947 shares of the company’s stock valued at $36,366,000 after buying an additional 14,584 shares during the period. Finally, Mark Asset Management LP lifted its position in shares of ARM by 14.2% in the 2nd quarter. Mark Asset Management LP now owns 238,589 shares of the company’s stock worth $39,038,000 after purchasing an additional 29,686 shares during the period. 7.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ARM has been the subject of several recent analyst reports. Daiwa Capital Markets upgraded shares of ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price objective for the company in a research note on Thursday, August 8th. Sanford C. Bernstein cut shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price objective for the company. in a research note on Thursday, October 31st. Evercore ISI increased their price objective on shares of ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Benchmark assumed coverage on shares of ARM in a research report on Monday, September 16th. They set a “hold” rating for the company. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, ARM currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.95.

ARM Stock Down 0.6 %

Shares of NASDAQ ARM opened at $132.85 on Friday. The firm has a 50-day simple moving average of $143.52 and a 200-day simple moving average of $140.20. The stock has a market capitalization of $139.20 billion, a price-to-earnings ratio of 221.42, a price-to-earnings-growth ratio of 6.64 and a beta of 5.40. Arm Holdings plc has a 52 week low of $59.00 and a 52 week high of $188.75.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. The company had revenue of $844.00 million during the quarter, compared to the consensus estimate of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. ARM’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.36 EPS. As a group, equities research analysts expect that Arm Holdings plc will post 0.79 EPS for the current 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.