Westend Capital Management LLC Purchases 572 Shares of Arm Holdings plc (NASDAQ:ARM)

Westend Capital Management LLC raised its position in shares of Arm Holdings plc (NASDAQ:ARM) by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 82,901 shares of the company’s stock after purchasing an additional 572 shares during the quarter. ARM accounts for approximately 3.0% of Westend Capital Management LLC’s holdings, making the stock its 17th biggest position. Westend Capital Management LLC’s holdings in ARM were worth $10,227,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. ORG Partners LLC bought a new position in shares of ARM in the third quarter worth about $29,000. Gilliland Jeter Wealth Management LLC raised its stake in ARM by 83.0% during the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after acquiring an additional 117 shares during the period. Quantbot Technologies LP purchased a new position in ARM during the third quarter valued at approximately $52,000. Farther Finance Advisors LLC boosted its position in shares of ARM by 45.8% in the third quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock worth $60,000 after purchasing an additional 131 shares during the period. Finally, First Community Trust NA purchased a new stake in shares of ARM in the third quarter worth $70,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Barclays upped their target price on shares of ARM from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Friday. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a report on Thursday, November 7th. JPMorgan Chase & Co. boosted their target price on shares of ARM from $140.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Susquehanna raised their target price on shares of ARM from $115.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group boosted their price target on shares of ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $151.09.

ARM Stock Up 1.2 %

Shares of ARM stock opened at $149.26 on Friday. The company’s 50 day moving average is $137.37 and its 200 day moving average is $141.39. The firm has a market cap of $156.40 billion, a price-to-earnings ratio of 248.77, a PEG ratio of 6.57 and a beta of 4.53. Arm Holdings plc has a 52-week low of $69.32 and a 52-week high of $188.75.

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, 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 firm had revenue of $844.00 million for the quarter, compared to the consensus estimate of $810.03 million. During the same quarter 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. Analysts anticipate that Arm Holdings plc will post 0.84 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.