Y Intercept Hong Kong Ltd Makes New $687,000 Investment in Arm Holdings plc (NASDAQ:ARM)

Y Intercept Hong Kong Ltd purchased a new stake in shares of Arm Holdings plc (NASDAQ:ARM) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,804 shares of the company’s stock, valued at approximately $687,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. ORG Partners LLC bought a new stake in ARM during the 3rd quarter worth approximately $29,000. Transcendent Capital Group LLC purchased a new stake in shares of ARM in the second quarter worth $33,000. Gilliland Jeter Wealth Management LLC boosted its stake in ARM by 83.0% during the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock valued at $37,000 after buying an additional 117 shares during the period. RiverPark Advisors LLC boosted its stake in 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 buying an additional 77 shares during the period. Finally, Oakworth Capital Inc. purchased a new position in ARM during the second quarter worth about $47,000. 7.53% of the stock is owned by hedge funds and other institutional investors.

ARM Stock Performance

Shares of ARM stock opened at $151.91 on Friday. Arm Holdings plc has a fifty-two week low of $65.11 and a fifty-two week high of $188.75. The firm has a market cap of $159.18 billion, a P/E ratio of 253.19, a P/E/G ratio of 7.15 and a beta of 4.67. The business’s 50 day moving average price is $142.98 and its 200-day moving average price is $143.32.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $810.03 million. During the same period in the previous year, the firm earned $0.36 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, equities analysts predict that Arm Holdings plc will post 0.79 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ARM. TD Cowen lifted their price target on ARM from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Needham & Company LLC reissued a “hold” rating on shares of ARM in a research note on Thursday, November 7th. Raymond James started coverage on shares of ARM in a research report on Friday, September 13th. They set an “outperform” rating and a $160.00 price objective on the stock. Wells Fargo & Company began coverage on shares of ARM in a research report on Friday, November 22nd. They issued an “overweight” rating and a $155.00 target price for the company. Finally, JPMorgan Chase & Co. raised their price target on ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, ARM presently has a consensus rating of “Moderate Buy” and an average price target of $150.32.

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.