LJI Wealth Management LLC Purchases New Stake in Arm Holdings plc (NASDAQ:ARM)

LJI Wealth Management LLC acquired a new position in shares of Arm Holdings plc (NASDAQ:ARM) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 4,400 shares of the company’s stock, valued at approximately $629,000.

Other large investors have also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its position in shares of ARM by 14,351.1% during the 3rd quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock worth $1,161,670,000 after purchasing an additional 806,676 shares in the last quarter. Sei Investments Co. boosted its holdings in ARM by 551.6% during the second quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock worth $94,790,000 after buying an additional 490,415 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in ARM by 186.8% during the third 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 during the period. Price T Rowe Associates Inc. MD increased its holdings in ARM by 5.3% in 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 in the last quarter. Finally, Mark Asset Management LP lifted its position in shares of ARM by 14.2% during the 2nd quarter. Mark Asset Management LP now owns 238,589 shares of the company’s stock valued at $39,038,000 after acquiring an additional 29,686 shares during the period. Hedge funds and other institutional investors own 7.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ARM. Deutsche Bank Aktiengesellschaft upped their price target on ARM from $82.00 to $105.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Sanford C. Bernstein cut ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price target for the company. in a research report on Thursday, October 31st. 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. Raymond James started coverage on shares of ARM in a report on Friday, September 13th. They set an “outperform” rating and a $160.00 target price for the company. Finally, Daiwa Capital Markets upgraded shares of ARM from a “neutral” rating to an “outperform” rating and set a $130.00 target price for the company in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, ARM currently has an average rating of “Moderate Buy” and an average target price of $147.95.

ARM Stock Down 5.6 %

Shares of ARM stock traded down $7.62 during trading hours on Friday, hitting $128.73. 7,740,277 shares of the company were exchanged, compared to its average volume of 10,804,335. Arm Holdings plc has a 1 year low of $53.47 and a 1 year high of $188.75. The firm has a fifty day moving average of $143.60 and a 200 day moving average of $139.28. The firm has a market cap of $134.89 billion, a PE ratio of 214.55, a PEG ratio of 6.75 and a beta of 5.40.

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

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.