Arm Holdings plc (NASDAQ:ARM) Shares Bought by Fortem Financial Group LLC

Fortem Financial Group LLC lifted its stake in shares of Arm Holdings plc (NASDAQ:ARM) by 6.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,200 shares of the company’s stock after purchasing an additional 430 shares during the quarter. Fortem Financial Group LLC’s holdings in ARM were worth $1,030,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. RiverPark Advisors LLC grew its position in ARM by 45.3% in the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after purchasing an additional 77 shares during the last quarter. Hexagon Capital Partners LLC raised its stake in ARM by 14.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 627 shares of the company’s stock valued at $90,000 after acquiring an additional 77 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in ARM by 1.1% during the 3rd quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the company’s stock worth $1,359,000 after acquiring an additional 100 shares during the period. Great Valley Advisor Group Inc. grew its stake in shares of ARM by 5.5% in the third quarter. Great Valley Advisor Group Inc. now owns 1,963 shares of the company’s stock worth $281,000 after purchasing an additional 102 shares in the last quarter. Finally, Comerica Bank grew its position in ARM by 6.1% in the 1st quarter. Comerica Bank now owns 1,780 shares of the company’s stock valued at $222,000 after buying an additional 103 shares in the last quarter. Institutional investors own 7.53% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. William Blair initiated coverage on shares of ARM in a research note on Wednesday, September 18th. They issued an “outperform” rating for the company. Benchmark began coverage on ARM in a research note on Monday, September 16th. They set a “hold” rating for the company. Sanford C. Bernstein downgraded ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price objective on the stock. in a research note on Thursday, October 31st. Raymond James initiated coverage on ARM in a report on Friday, September 13th. They set an “outperform” rating and a $160.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their price target on shares of ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $150.32.

ARM Stock Performance

Shares of ARM opened at $137.29 on Wednesday. Arm Holdings plc has a 52 week low of $62.75 and a 52 week high of $188.75. The company has a market capitalization of $143.86 billion, a PE ratio of 228.82, a PEG ratio of 7.03 and a beta of 4.71. The company’s 50 day moving average price is $142.43 and its 200 day moving average price is $143.02.

ARM (NASDAQ:ARM) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.04. ARM had a return on equity of 13.69% and a net margin of 18.13%. The business had revenue of $844.00 million during the quarter, compared to analyst estimates of $810.03 million. During the same period in the previous year, the company earned $0.36 EPS. The firm’s revenue was up 4.7% on a year-over-year basis. On average, equities analysts forecast that Arm Holdings plc will post 0.79 earnings per share for the current fiscal year.

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.