KP Management LLC Raises Stock Position in Arm Holdings plc (NASDAQ:ARM)

KP Management LLC grew its position in Arm Holdings plc (NASDAQ:ARM) by 28.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,000 shares of the company’s stock after buying an additional 10,000 shares during the period. ARM accounts for approximately 2.1% of KP Management LLC’s investment portfolio, making the stock its 15th largest position. KP Management LLC’s holdings in ARM were worth $6,435,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mark Sheptoff Financial Planning LLC purchased a new position in ARM in the first quarter valued at $25,000. ORG Partners LLC purchased a new position in shares of ARM in the 3rd quarter valued at about $29,000. Transcendent Capital Group LLC acquired a new position in shares of ARM during the second quarter worth about $33,000. Gilliland Jeter Wealth Management LLC increased its stake in shares of ARM by 83.0% during the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after buying an additional 117 shares during the period. Finally, RiverPark Advisors LLC raised its holdings in ARM by 45.3% in the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after acquiring an additional 77 shares in the last quarter. Institutional investors and hedge funds own 7.53% of the company’s stock.

ARM Stock Performance

Shares of ARM stock opened at $145.30 on Monday. Arm Holdings plc has a one year low of $47.12 and a one year high of $188.75. The company has a market cap of $152.25 billion and a P/E ratio of 368.60. The firm has a fifty day moving average of $139.19 and a two-hundred day moving average of $135.94.

ARM (NASDAQ:ARM) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.05. ARM had a net margin of 12.12% and a return on equity of 18.97%. The firm had revenue of $939.00 million during the quarter, compared to analysts’ expectations of $905.53 million. During the same period in the prior year, the company posted $0.24 earnings per share. The firm’s revenue for the quarter was up 39.1% on a year-over-year basis. As a group, equities analysts predict that Arm Holdings plc will post 0.86 earnings per share for the current year.

Wall Street Analyst Weigh In

ARM has been the subject of several analyst reports. Benchmark began coverage on shares of ARM in a report on Monday, September 16th. They set a “hold” rating for the company. Citigroup increased their target price on ARM from $150.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Barclays upped their price objective on ARM from $105.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. HSBC lowered ARM from a “hold” rating to a “reduce” rating in a research report on Monday, July 29th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ARM in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, ARM presently has an average rating of “Moderate Buy” and a consensus price target of $138.57.

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.