Northern Trust Corp Purchases 1,375 Shares of Arm Holdings plc (NASDAQ:ARM)

Northern Trust Corp lifted its position in shares of Arm Holdings plc (NASDAQ:ARM) by 52.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,992 shares of the company’s stock after acquiring an additional 1,375 shares during the quarter. Northern Trust Corp’s holdings in ARM were worth $492,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. GeoWealth Management LLC boosted its position in ARM by 53.8% during the fourth quarter. GeoWealth Management LLC now owns 263 shares of the company’s stock valued at $32,000 after purchasing an additional 92 shares in the last quarter. Valley National Advisers Inc. boosted its position in ARM by 13.3% during the fourth quarter. Valley National Advisers Inc. now owns 613 shares of the company’s stock valued at $75,000 after purchasing an additional 72 shares in the last quarter. Farther Finance Advisors LLC boosted its position in ARM by 108.6% during the fourth quarter. Farther Finance Advisors LLC now owns 870 shares of the company’s stock valued at $107,000 after purchasing an additional 453 shares in the last quarter. Harbour Investments Inc. boosted its position in ARM by 40.1% during the fourth quarter. Harbour Investments Inc. now owns 902 shares of the company’s stock valued at $111,000 after purchasing an additional 258 shares in the last quarter. Finally, Rialto Wealth Management LLC bought a new stake in ARM during the fourth quarter valued at about $123,000. Institutional investors own 7.53% of the company’s stock.

ARM Stock Down 3.5%

ARM stock opened at $123.68 on Friday. Arm Holdings plc has a 52 week low of $80.00 and a 52 week high of $188.75. The company has a market capitalization of $129.60 billion, a price-to-earnings ratio of 162.74, a price-to-earnings-growth ratio of 6.33 and a beta of 4.39. The stock has a 50-day moving average price of $113.79 and a 200 day moving average price of $130.60.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, May 7th. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.23 billion. ARM had a return on equity of 11.94% and a net margin of 21.82%. The company’s revenue was up 33.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 earnings per share. Research analysts anticipate that Arm Holdings plc will post 0.9 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ARM. Jefferies Financial Group raised their price objective on ARM from $170.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a research report on Thursday, May 8th. Evercore ISI raised their price objective on ARM from $176.00 to $202.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Guggenheim lowered their price target on ARM from $180.00 to $147.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Finally, Bank of America lowered their price target on ARM from $144.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, ARM has an average rating of “Moderate Buy” and an average target price of $152.76.

ARM Company Profile

Arm Holdings Plc engages in the licensing, marketing, research, and development of microprocessors, systems IP, graphics processing units, physical IP and associated systems IP, software, and tools. It operates through the following geographical segments: United Kingdom, United States, and Other Countries.