Balboa Wealth Partners Buys Shares of 3,845 Arm Holdings plc (NASDAQ:ARM)

Balboa Wealth Partners acquired a new stake in Arm Holdings plc (NASDAQ:ARM) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,845 shares of the company’s stock, valued at approximately $550,000.

Several other large investors have also recently added to or reduced their stakes in ARM. International Assets Investment Management LLC increased its stake 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 worth $1,161,670,000 after buying an additional 806,676 shares during the period. Sei Investments Co. increased its holdings in shares of ARM by 551.6% in the 2nd quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock valued at $94,790,000 after acquiring an additional 490,415 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of ARM by 186.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock worth $52,279,000 after acquiring an additional 233,909 shares in the last quarter. Marsico Capital Management LLC purchased a new stake in ARM during the second quarter worth approximately $33,207,000. Finally, ProShare Advisors LLC acquired a new position in ARM in the second quarter valued at approximately $16,611,000. 7.53% of the stock is owned by hedge funds and other institutional investors.

ARM Price Performance

NASDAQ:ARM opened at $136.35 on Friday. Arm Holdings plc has a 12 month low of $53.47 and a 12 month high of $188.75. The firm has a market capitalization of $142.87 billion, a PE ratio of 227.25, a price-to-earnings-growth ratio of 6.75 and a beta of 5.40. The business’s 50-day moving average is $143.11 and its two-hundred day moving average is $139.12.

ARM (NASDAQ:ARM) last posted its earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. ARM had a net margin of 18.13% and a return on equity of 13.69%. The business had revenue of $844.00 million for the quarter, compared to analysts’ expectations of $810.03 million. During the same period in the previous year, the company posted $0.36 earnings per share. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities analysts anticipate that Arm Holdings plc will post 0.79 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ARM shares. Needham & Company LLC restated a “hold” rating on shares of ARM in a report on Thursday, November 7th. JPMorgan Chase & Co. raised their price target on ARM from $140.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Susquehanna increased their price objective on ARM from $115.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. HSBC cut shares of ARM from a “hold” rating to a “reduce” rating in a report on Monday, July 29th. Finally, William Blair began coverage on ARM in a report on Wednesday, September 18th. They set an “outperform” rating for the company. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $147.95.

ARM Profile

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.