MCF Advisors LLC Buys New Position in Arm Holdings plc (NASDAQ:ARM)

MCF Advisors LLC acquired a new stake in shares of Arm Holdings plc (NASDAQ:ARM) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 671 shares of the company’s stock, valued at approximately $83,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ARM. ORG Partners LLC acquired a new position in ARM during the third quarter worth about $29,000. Gilliland Jeter Wealth Management LLC boosted its position in shares of ARM by 83.0% in the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock valued at $37,000 after purchasing an additional 117 shares during the period. Quantbot Technologies LP purchased a new position in ARM in the 3rd quarter worth about $52,000. Farther Finance Advisors LLC raised its holdings in ARM by 45.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock worth $60,000 after buying an additional 131 shares during the period. Finally, First Community Trust NA purchased a new position in shares of ARM in the third quarter worth approximately $70,000. Institutional investors own 7.53% of the company’s stock.

ARM Trading Up 15.9 %

NASDAQ ARM opened at $179.93 on Thursday. Arm Holdings plc has a 1 year low of $69.32 and a 1 year high of $188.75. The company has a fifty day simple moving average of $137.82 and a 200 day simple moving average of $140.73. The company has a market cap of $188.54 billion, a P/E ratio of 299.89, a P/E/G ratio of 6.97 and a beta of 4.53.

ARM (NASDAQ:ARM) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. The company had revenue of $844.00 million during the quarter, compared to analysts’ expectations of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.36 earnings per share. Equities research analysts forecast that Arm Holdings plc will post 0.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. The Goldman Sachs Group raised their price objective on shares of ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Loop Capital lifted their price target on ARM from $130.00 to $180.00 and gave the company a “buy” rating in a report on Monday, November 11th. Needham & Company LLC reissued a “hold” rating on shares of ARM in a research note on Thursday, November 7th. Wells Fargo & Company lifted their target price on ARM from $155.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Finally, Barclays increased their price target on shares of ARM from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, ARM has a consensus rating of “Moderate Buy” and a consensus price target of $152.09.

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.