Oppenheimer & Co. Inc. Boosts Stock Holdings in Arm Holdings plc (NASDAQ:ARM)

Oppenheimer & Co. Inc. grew its holdings in Arm Holdings plc (NASDAQ:ARM) by 258.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 58,197 shares of the company’s stock after purchasing an additional 41,948 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in ARM were worth $9,522,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Mark Sheptoff Financial Planning LLC bought a new stake in ARM during the first quarter valued at about $25,000. Transcendent Capital Group LLC purchased a new stake in shares of ARM during the second quarter valued at about $33,000. SOA Wealth Advisors LLC. purchased a new stake in shares of ARM during the first quarter valued at about $35,000. RiverPark Advisors LLC boosted its holdings in shares of ARM by 45.3% in the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after buying an additional 77 shares in the last quarter. Finally, Mather Group LLC. purchased a new position in shares of ARM in the 2nd quarter worth approximately $41,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

ARM Trading Up 5.9 %

Shares of NASDAQ:ARM opened at $147.37 on Friday. Arm Holdings plc has a 12-month low of $46.50 and a 12-month high of $188.75. The business has a 50 day moving average of $139.85 and a two-hundred day moving average of $132.85. The company has a market capitalization of $154.42 billion and a PE ratio of 149.28.

ARM (NASDAQ:ARM) last posted its earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05. The firm had revenue of $939.00 million during the quarter, compared to analysts’ expectations of $905.53 million. ARM had a net margin of 12.12% and a return on equity of 18.97%. The business’s revenue was up 39.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.24 EPS. Equities research analysts predict that Arm Holdings plc will post 0.82 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ARM has been the subject of several recent analyst reports. TD Cowen raised their target price on shares of ARM from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Needham & Company LLC reiterated a “hold” rating on shares of ARM in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft boosted their target price on ARM from $82.00 to $105.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Guggenheim increased their price target on ARM from $110.00 to $169.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Finally, Barclays raised their price target on ARM from $105.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, ARM presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.04.

ARM Company 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.