Balboa Wealth Partners Takes $550,000 Position in Arm Holdings plc (NASDAQ:ARM)

Balboa Wealth Partners acquired a new position in shares of Arm Holdings plc (NASDAQ:ARM) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,845 shares of the company’s stock, valued at approximately $550,000.

A number of other large investors have also recently bought and sold shares of ARM. International Assets Investment Management LLC raised its holdings in shares of ARM by 14,351.1% during the third quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock valued at $1,161,670,000 after buying an additional 806,676 shares during the last quarter. Sei Investments Co. boosted its position in ARM by 551.6% during the 2nd quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock worth $94,790,000 after acquiring an additional 490,415 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of ARM by 186.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock worth $52,279,000 after purchasing an additional 233,909 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of ARM by 5.3% during 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 purchasing an additional 14,584 shares during the period. Finally, Mark Asset Management LP raised its stake in shares of ARM by 14.2% during the second quarter. Mark Asset Management LP now owns 238,589 shares of the company’s stock valued at $39,038,000 after purchasing an additional 29,686 shares in the last quarter. Institutional investors own 7.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ARM shares. Benchmark began coverage on shares of ARM in a research note on Monday, September 16th. They set a “hold” rating on the stock. Morgan Stanley upgraded ARM from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $107.00 to $190.00 in a research report on Friday, July 19th. Loop Capital boosted their price objective on ARM from $130.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday. Raymond James began coverage on ARM in a research note on Friday, September 13th. They set an “outperform” rating and a $160.00 target price for the company. Finally, Susquehanna boosted their price target on shares of ARM from $115.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, ARM has an average rating of “Moderate Buy” and a consensus target price of $147.95.

ARM Stock Performance

Shares of ARM opened at $136.35 on Friday. The stock has a fifty day moving average price of $143.11 and a two-hundred day moving average price of $139.12. Arm Holdings plc has a 52-week low of $53.47 and a 52-week high of $188.75. The company has a market cap of $142.87 billion, a price-to-earnings ratio of 227.25, a PEG ratio of 6.75 and a beta of 5.40.

ARM (NASDAQ:ARM) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share 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 during the quarter, compared to analysts’ expectations of $810.03 million. During the same quarter last year, the company posted $0.36 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, research analysts predict that Arm Holdings plc will post 0.79 EPS for the current fiscal 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.