Lewis Asset Management LLC Makes New Investment in Arm Holdings plc (NASDAQ:ARM)

Lewis Asset Management LLC bought a new stake in Arm Holdings plc (NASDAQ:ARM) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 1,500 shares of the company’s stock, valued at approximately $215,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ARM. KP Management LLC grew its position in ARM by 28.6% in the third quarter. KP Management LLC now owns 45,000 shares of the company’s stock valued at $6,435,000 after acquiring an additional 10,000 shares during the period. Willner & Heller LLC boosted its position in ARM by 193.7% in the third quarter. Willner & Heller LLC now owns 6,799 shares of the company’s stock valued at $972,000 after buying an additional 4,484 shares in the last quarter. Lazard Asset Management LLC grew its stake in ARM by 393.0% during the first quarter. Lazard Asset Management LLC now owns 25,236 shares of the company’s stock worth $3,154,000 after buying an additional 20,117 shares during the last quarter. United Advisor Group LLC acquired a new stake in shares of ARM during the third quarter worth approximately $545,000. Finally, Mizuho Securities Co. Ltd. boosted its holdings in shares of ARM by 156.3% in the 2nd quarter. Mizuho Securities Co. Ltd. now owns 18,400 shares of the company’s stock worth $3,011,000 after acquiring an additional 11,220 shares in the last quarter. 7.53% of the stock is currently owned by institutional investors.

ARM Trading Up 4.1 %

ARM opened at $150.65 on Friday. The firm’s fifty day simple moving average is $141.65 and its 200 day simple moving average is $137.54. The stock has a market capitalization of $157.86 billion, a P/E ratio of 386.29, a P/E/G ratio of 6.27 and a beta of 5.40. Arm Holdings plc has a 12 month low of $49.82 and a 12 month high of $188.75.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. The business had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. ARM had a net margin of 12.12% and a return on equity of 18.97%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 earnings per share. On average, equities research analysts predict that Arm Holdings plc will post 0.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ARM shares. Rosenblatt Securities reiterated a “buy” rating and issued a $180.00 price objective on shares of ARM in a research report on Thursday, August 1st. William Blair began coverage on shares of ARM in a research note on Wednesday, September 18th. They issued an “outperform” rating for the company. Citigroup raised their price target on shares of ARM from $150.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, August 1st. HSBC cut ARM from a “hold” rating to a “reduce” rating in a report on Monday, July 29th. Finally, Barclays raised their price objective on shares of ARM from $125.00 to $145.00 and gave the company an “overweight” rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, ARM presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.57.

ARM 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.