Fifth Third Bancorp Grows Position in Arm Holdings plc (NASDAQ:ARM)

Fifth Third Bancorp raised its holdings in shares of Arm Holdings plc (NASDAQ:ARM) by 2,971.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 21,042 shares of the company’s stock after purchasing an additional 20,357 shares during the period. Fifth Third Bancorp’s holdings in ARM were worth $3,443,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Mark Sheptoff Financial Planning LLC purchased a new position in ARM in the first quarter valued at about $25,000. SOA Wealth Advisors LLC. purchased a new stake in shares of ARM during the first quarter valued at about $35,000. Mather Group LLC. purchased a new stake in shares of ARM during the second quarter valued at about $41,000. Naples Money Management LLC lifted its position in shares of ARM by 47.8% during the first quarter. Naples Money Management LLC now owns 340 shares of the company’s stock valued at $42,000 after buying an additional 110 shares during the last quarter. Finally, Northwest Financial Advisors purchased a new stake in shares of ARM during the fourth quarter valued at about $46,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

Wall Street Analyst Weigh In

ARM has been the topic of several research analyst reports. Loop Capital boosted their target price on shares of ARM from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Guggenheim boosted their target price on shares of ARM from $110.00 to $169.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Rosenblatt Securities reissued a “buy” rating and set a $180.00 target price on shares of ARM in a research report on Thursday, August 1st. Citigroup boosted their target price on shares of ARM from $150.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Needham & Company LLC reissued 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, ten have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $121.56.

ARM Stock Up 1.0 %

ARM stock traded up $1.25 during mid-day trading on Wednesday, hitting $131.20. The company had a trading volume of 5,907,166 shares, compared to its average volume of 12,582,215. The stock has a market cap of $137.48 billion and a price-to-earnings ratio of 138.77. Arm Holdings plc has a 1 year low of $46.50 and a 1 year high of $188.75. The business has a fifty day moving average of $151.93 and a 200 day moving average of $131.53.

ARM (NASDAQ:ARM) last announced its earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. ARM had a net margin of 12.12% and a return on equity of 18.97%. The business had revenue of $939.00 million for the quarter, compared to analyst estimates of $905.53 million. During the same period last year, the firm posted $0.24 earnings per share. The company’s revenue for the quarter was up 39.1% compared to the same quarter last year. Equities analysts anticipate that Arm Holdings plc will post 0.82 earnings per share for the current year.

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.