Fortem Financial Group LLC Purchases 350 Shares of Arm Holdings plc (NASDAQ:ARM)

Fortem Financial Group LLC increased its position in shares of Arm Holdings plc (NASDAQ:ARM) by 4.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,550 shares of the company’s stock after buying an additional 350 shares during the quarter. Fortem Financial Group LLC’s holdings in ARM were worth $931,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Capital Market Strategies LLC bought a new position in ARM in the fourth quarter valued at $694,000. Modus Advisors LLC grew its holdings in shares of ARM by 300.2% in the 4th quarter. Modus Advisors LLC now owns 17,935 shares of the company’s stock valued at $2,212,000 after acquiring an additional 13,453 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of ARM in the fourth quarter valued at about $181,000. B. Riley Wealth Advisors Inc. raised its holdings in ARM by 7.5% during the third quarter. B. Riley Wealth Advisors Inc. now owns 4,833 shares of the company’s stock worth $683,000 after acquiring an additional 337 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in ARM by 21.7% during the third quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock valued at $183,265,000 after purchasing an additional 228,467 shares during the last quarter. 7.53% of the stock is currently owned by institutional investors.

ARM Stock Up 5.3 %

Shares of ARM traded up $7.53 during trading hours on Monday, hitting $148.61. 5,974,745 shares of the company were exchanged, compared to its average volume of 5,571,228. The company has a market cap of $155.72 billion, a price-to-earnings ratio of 247.69, a P/E/G ratio of 7.15 and a beta of 4.53. The firm’s fifty day moving average is $137.80 and its 200 day moving average is $142.28. Arm Holdings plc has a fifty-two week low of $66.66 and a fifty-two week high of $188.75.

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ARM shares. The Goldman Sachs Group upped their price objective on ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Needham & Company LLC reiterated a “hold” rating on shares of ARM in a research note on Thursday, November 7th. Benchmark assumed coverage on shares of ARM in a research note on Monday, September 16th. They set a “hold” rating on the stock. Loop Capital raised their target price on shares of ARM from $130.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, William Blair initiated coverage on ARM in a research report on Wednesday, September 18th. They set an “outperform” rating on the stock. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $150.32.

About ARM

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.