Westend Capital Management LLC Raises Holdings in Arm Holdings plc (NASDAQ:ARM)

Westend Capital Management LLC grew its stake in shares of Arm Holdings plc (NASDAQ:ARM) by 62.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 82,329 shares of the company’s stock after purchasing an additional 31,688 shares during the quarter. ARM makes up 4.0% of Westend Capital Management LLC’s portfolio, making the stock its 8th largest holding. Westend Capital Management LLC’s holdings in ARM were worth $11,774,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mubadala Investment Co PJSC acquired a new stake in shares of ARM in the 4th quarter worth about $150,437,000. Wellington Management Group LLP increased its stake in shares of ARM by 56.4% in the fourth quarter. Wellington Management Group LLP now owns 4,468,720 shares of the company’s stock valued at $335,802,000 after purchasing an additional 1,611,926 shares during the period. Sei Investments Co. boosted its position in shares of ARM by 551.6% during the second quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock worth $94,790,000 after buying an additional 490,415 shares during the period. State of Michigan Retirement System bought a new position in ARM in the 1st quarter worth approximately $28,523,000. Finally, Marsico Capital Management LLC acquired a new stake in ARM in the 2nd quarter valued at approximately $33,207,000. 7.53% of the stock is currently owned by institutional investors and hedge funds.

ARM Price Performance

Shares of ARM opened at $151.46 on Friday. The business’s 50-day moving average is $132.98 and its 200-day moving average is $134.11. The company has a market capitalization of $158.70 billion and a price-to-earnings ratio of 388.37. Arm Holdings plc has a fifty-two week low of $46.50 and a fifty-two week high of $188.75.

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

Analysts Set New Price Targets

ARM has been the subject of a number of analyst reports. Hsbc Global Res upgraded ARM to a “moderate sell” rating in a research report on Monday, July 29th. Benchmark started coverage on shares of ARM in a report on Monday, September 16th. They issued a “hold” rating for the company. TD Cowen upgraded shares of ARM to a “strong-buy” rating in a research report on Monday, September 16th. Morgan Stanley upgraded shares of ARM from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $107.00 to $190.00 in a research report on Friday, July 19th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ARM in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $134.91.

ARM Company Profile

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.