Brookstone Capital Management Grows Holdings in Arm Holdings plc (NASDAQ:ARM)

Brookstone Capital Management grew its stake in shares of Arm Holdings plc (NASDAQ:ARMFree Report) by 12.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,411 shares of the company’s stock after purchasing an additional 156 shares during the quarter. Brookstone Capital Management’s holdings in ARM were worth $202,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Lazard Asset Management LLC grew its stake in ARM by 393.0% in the first quarter. Lazard Asset Management LLC now owns 25,236 shares of the company’s stock worth $3,154,000 after purchasing an additional 20,117 shares in the last quarter. Mizuho Securities Co. Ltd. increased its stake in shares of ARM by 156.3% during the second quarter. Mizuho Securities Co. Ltd. now owns 18,400 shares of the company’s stock valued at $3,011,000 after buying an additional 11,220 shares during the period. Itau Unibanco Holding S.A. purchased a new position in shares of ARM during the second quarter valued at $4,090,000. Rheos Capital Works Inc. raised its holdings in shares of ARM by 48.1% in the first quarter. Rheos Capital Works Inc. now owns 256,900 shares of the company’s stock valued at $32,110,000 after acquiring an additional 83,400 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. purchased a new stake in ARM in the first quarter worth about $222,000. 7.53% of the stock is currently owned by institutional investors.

ARM Stock Performance

NASDAQ ARM opened at $150.67 on Wednesday. The firm has a market capitalization of $157.88 billion and a P/E ratio of 386.34. The stock has a 50-day simple moving average of $134.75 and a two-hundred day simple moving average of $134.61. Arm Holdings plc has a fifty-two week low of $46.50 and a fifty-two week high of $188.75.

ARM (NASDAQ:ARMGet Free Report) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.35 by $0.05. ARM had a return on equity of 18.97% and a net margin of 12.12%. The business had revenue of $939.00 million for the quarter, compared to analyst estimates of $905.53 million. During the same quarter in the prior year, the firm posted $0.24 EPS. The business’s quarterly revenue was up 39.1% compared to the same quarter last year. As a group, analysts forecast that Arm Holdings plc will post 0.86 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have commented on ARM shares. Guggenheim raised their target price on shares of ARM from $110.00 to $169.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Raymond James assumed coverage on shares of ARM in a research note on Friday, September 13th. They issued an “outperform” rating and a $160.00 price objective for the company. HSBC cut ARM from a “hold” rating to a “reduce” rating in a research report on Monday, July 29th. Rosenblatt Securities reissued a “buy” rating and issued a $180.00 price target on shares of ARM in a research report on Thursday, August 1st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $134.91.

Check Out Our Latest Stock Report on ARM

ARM Company Profile

(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.

See Also

Institutional Ownership by Quarter for ARM (NASDAQ:ARM)

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