Calamos Advisors LLC purchased a new stake in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM – Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 8,630 shares of the company’s stock, valued at approximately $1,221,000.
Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC raised its position in shares of ARM by 126.0% during the 3rd quarter. GAMMA Investing LLC now owns 174 shares of the company’s stock worth $25,000 after purchasing an additional 97 shares during the last quarter. Huntington National Bank purchased a new position in ARM during the second quarter worth $30,000. FWL Investment Management LLC acquired a new position in shares of ARM in the second quarter worth $34,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of ARM in the second quarter valued at $39,000. Finally, ORG Partners LLC purchased a new stake in shares of ARM in the second quarter valued at $48,000. 7.53% of the stock is owned by hedge funds and other institutional investors.
ARM Stock Performance
Shares of ARM stock opened at $109.31 on Friday. The firm has a market capitalization of $115.49 billion, a price-to-earnings ratio of 140.14, a price-to-earnings-growth ratio of 6.55 and a beta of 4.35. ARM Holdings PLC Sponsored ADR has a one year low of $80.00 and a one year high of $183.16. The company has a 50 day moving average price of $137.49 and a 200 day moving average price of $145.45.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on ARM shares. UBS Group cut their target price on shares of ARM from $200.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. KeyCorp boosted their price objective on shares of ARM from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Mizuho upped their price objective on shares of ARM from $180.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Evercore ISI lifted their target price on shares of ARM from $173.00 to $178.00 and gave the stock an “outperform” rating in a research note on Thursday, September 11th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of ARM in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $178.30.
Check Out Our Latest Report on ARM
About ARM
Arm Limited (NASDAQ: ARM) is a global semiconductor IP company best known for designing energy-efficient processor architectures and related technologies that underpin a wide range of computing devices. Founded in 1990 as a joint venture between Acorn Computers, Apple and VLSI Technology and headquartered in Cambridge, England, Arm develops the ARM instruction set architectures and core processor designs that chipmakers license and integrate into custom system-on-chip (SoC) products. The company operates a licensing and royalty business model rather than manufacturing chips itself.
Arm’s product portfolio includes CPU core families (such as Cortex and Neoverse lines), GPU and multimedia IP (Mali), neural processing units (Ethos) and a suite of system and physical IP blocks.
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