Freedom Investment Management Inc. Acquires 1,285 Shares of Arm Holdings plc (NASDAQ:ARM)

Freedom Investment Management Inc. increased its holdings in Arm Holdings plc (NASDAQ:ARM) by 25.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,425 shares of the company’s stock after purchasing an additional 1,285 shares during the period. Freedom Investment Management Inc.’s holdings in ARM were worth $919,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. ORG Partners LLC purchased a new position in shares of ARM in the third quarter worth $29,000. Transcendent Capital Group LLC purchased a new stake in ARM in the 2nd quarter worth $33,000. Gilliland Jeter Wealth Management LLC boosted its holdings in shares of ARM by 83.0% during 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 last quarter. RiverPark Advisors LLC grew its position in shares of ARM by 45.3% during the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after purchasing an additional 77 shares in the last quarter. Finally, Mather Group LLC. bought a new stake in shares of ARM in the second quarter worth about $41,000. 7.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on ARM shares. Raymond James assumed coverage on ARM in a research note on Friday, September 13th. They set an “outperform” rating and a $160.00 price target for the company. Wells Fargo & Company assumed coverage on shares of ARM in a report on Friday, November 22nd. They issued an “overweight” rating and a $155.00 target price for the company. UBS Group started coverage on shares of ARM in a research note on Monday. They set a “buy” rating and a $160.00 price target on the stock. Evercore ISI lifted their price objective on shares of ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. upped their target price on shares of ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, ARM currently has an average rating of “Moderate Buy” and a consensus price target of $150.32.

ARM Price Performance

Shares of ARM stock opened at $133.37 on Friday. The company has a market capitalization of $139.75 billion, a P/E ratio of 222.28, a P/E/G ratio of 6.97 and a beta of 5.40. The company’s 50-day simple moving average is $143.07 and its two-hundred day simple moving average is $141.21. Arm Holdings plc has a one year low of $60.37 and a one year high of $188.75.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.04. The company had revenue of $844.00 million for the quarter, compared to analysts’ expectations of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. ARM’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.36 earnings per share. On average, research analysts expect 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.