Cherry Creek Investment Advisors Inc. Raises Holdings in Arm Holdings plc (NASDAQ:ARM)

Cherry Creek Investment Advisors Inc. boosted its stake in shares of Arm Holdings plc (NASDAQ:ARM) by 121.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,840 shares of the company’s stock after buying an additional 2,652 shares during the period. Cherry Creek Investment Advisors Inc.’s holdings in ARM were worth $597,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of ARM. Pacer Advisors Inc. raised its position in shares of ARM by 5.0% in the 4th quarter. Pacer Advisors Inc. now owns 7,532 shares of the company’s stock worth $929,000 after acquiring an additional 362 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in ARM in the fourth quarter worth about $471,000. Blue Trust Inc. lifted its position in shares of ARM by 13.6% during the fourth quarter. Blue Trust Inc. now owns 1,662 shares of the company’s stock valued at $205,000 after buying an additional 199 shares during the last quarter. Kingswood Wealth Advisors LLC boosted its holdings in shares of ARM by 13.0% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 3,932 shares of the company’s stock valued at $485,000 after buying an additional 453 shares in the last quarter. Finally, Juncture Wealth Strategies LLC grew its position in shares of ARM by 39.0% in the 4th quarter. Juncture Wealth Strategies LLC now owns 2,488 shares of the company’s stock worth $307,000 after buying an additional 698 shares during the last quarter. Institutional investors own 7.53% of the company’s stock.

ARM Price Performance

ARM opened at $145.60 on Tuesday. The stock has a market cap of $152.56 billion, a P/E ratio of 242.67, a P/E/G ratio of 8.41 and a beta of 4.53. The firm has a fifty day moving average price of $140.00 and a 200 day moving average price of $140.42. Arm Holdings plc has a 1 year low of $69.32 and a 1 year high of $188.75.

ARM (NASDAQ:ARM) last posted its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.04. ARM had a net margin of 18.13% and a return on equity of 13.69%. The business had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. During the same period in the prior year, the company posted $0.36 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities analysts expect that Arm Holdings plc will post 0.84 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. UBS Group assumed coverage on shares of ARM in a research note on Monday, November 25th. They issued a “buy” rating and a $160.00 target price for the company. Evercore ISI raised their price objective on ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. TD Cowen upped their target price on ARM from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Barclays boosted their price target on ARM from $145.00 to $155.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Finally, Wells Fargo & Company increased their price objective on shares of ARM from $155.00 to $162.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $152.09.

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.