Pinnacle Associates Ltd. Invests $2.60 Million in Arm Holdings plc (NASDAQ:ARM)

Pinnacle Associates Ltd. purchased a new position in shares of Arm Holdings plc (NASDAQ:ARMFree Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 34,600 shares of the company’s stock, valued at approximately $2,600,000.

A number of other large investors have also made changes to their positions in ARM. Steel Grove Capital Advisors LLC purchased a new position in shares of ARM in the fourth quarter worth about $1,229,000. Pacer Advisors Inc. acquired a new stake in shares of ARM during the fourth quarter worth about $65,000. Rheos Capital Works Inc. lifted its holdings in shares of ARM by 92.8% during the fourth quarter. Rheos Capital Works Inc. now owns 173,500 shares of the company’s stock worth $13,038,000 after purchasing an additional 83,500 shares during the period. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of ARM during the fourth quarter worth about $105,000. Finally, Compagnie Lombard Odier SCmA lifted its holdings in shares of ARM by 110.0% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 4,200 shares of the company’s stock worth $316,000 after purchasing an additional 2,200 shares during the period. 7.53% of the stock is owned by institutional investors and hedge funds.

ARM Trading Down 0.5 %

Shares of ARM opened at 124.99 on Monday. Arm Holdings plc has a one year low of 46.50 and a one year high of 164.00. The stock has a 50 day moving average price of 115.99 and a 200 day moving average price of 79.89.

ARM (NASDAQ:ARMGet Free Report) last announced its quarterly earnings results on Wednesday, February 7th. The company reported 0.29 EPS for the quarter, beating the consensus estimate of 0.25 by 0.04. The business had revenue of 824.00 million during the quarter, compared to analyst estimates of 762.50 million. The firm’s revenue was up 13.8% on a year-over-year basis. Equities analysts anticipate that Arm Holdings plc will post 1.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. The Goldman Sachs Group lifted their target price on ARM from $65.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, February 9th. TD Cowen lifted their target price on ARM from $80.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, February 8th. Susquehanna lifted their target price on ARM from $48.00 to $85.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. Rosenblatt Securities boosted their price target on ARM from $140.00 to $180.00 and gave the company a “buy” rating in a report on Monday, February 26th. Finally, Daiwa Capital Markets downgraded ARM from a “buy” rating to a “neutral” rating and boosted their price target for the company from $63.00 to $130.00 in a report on Friday, February 16th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of 85.78.

Read Our Latest Analysis on ARM

About ARM

(Free Report)

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.

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Institutional Ownership by Quarter for ARM (NASDAQ:ARM)

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