Harvest Fund Management Co. Ltd Acquires 11,364 Shares of Arm Holdings plc (NASDAQ:ARM)

Harvest Fund Management Co. Ltd lifted its stake in shares of Arm Holdings plc (NASDAQ:ARM) by 130.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 20,102 shares of the company’s stock after buying an additional 11,364 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in ARM were worth $2,872,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of ARM. KP Management LLC grew its holdings in ARM by 28.6% in the third quarter. KP Management LLC now owns 45,000 shares of the company’s stock worth $6,435,000 after purchasing an additional 10,000 shares during the period. Willner & Heller LLC boosted its position in shares of ARM by 193.7% during the 3rd quarter. Willner & Heller LLC now owns 6,799 shares of the company’s stock worth $972,000 after purchasing an additional 4,484 shares in the last quarter. Lazard Asset Management LLC grew its stake in shares of ARM by 393.0% in the 1st quarter. Lazard Asset Management LLC now owns 25,236 shares of the company’s stock valued at $3,154,000 after buying an additional 20,117 shares during the period. United Advisor Group LLC acquired a new stake in shares of ARM in the 3rd quarter valued at about $545,000. Finally, Mizuho Securities Co. Ltd. increased its position in ARM by 156.3% in the 2nd 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 in the last quarter. Institutional investors own 7.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Susquehanna increased their price target on ARM from $115.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Daiwa Capital Markets raised shares of ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price target for the company in a research report on Thursday, August 8th. The Goldman Sachs Group upped their price objective on shares of ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Barclays lifted their price objective on shares of ARM from $125.00 to $145.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, HSBC lowered shares of ARM from a “hold” rating to a “reduce” rating in a report on Monday, July 29th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.86.

ARM Price Performance

NASDAQ:ARM opened at $135.99 on Monday. The company has a market capitalization of $142.49 billion, a P/E ratio of 226.65, a P/E/G ratio of 6.79 and a beta of 5.40. The business has a fifty day simple moving average of $143.30 and a two-hundred day simple moving average of $140.87. Arm Holdings plc has a 1 year low of $60.37 and a 1 year high of $188.75.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. The business had revenue of $844.00 million for the quarter, compared to analysts’ expectations of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.36 EPS. As a group, analysts anticipate that Arm Holdings plc will post 0.79 earnings per share for the current year.

ARM 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.