Morse Asset Management Inc Buys Shares of 1,480 Arm Holdings plc (NASDAQ:ARM)

Morse Asset Management Inc bought a new stake in Arm Holdings plc (NASDAQ:ARM) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,480 shares of the company’s stock, valued at approximately $212,000.

Several other large investors have also recently bought and sold shares of ARM. Comerica Bank increased its stake in ARM by 6.1% in the first quarter. Comerica Bank now owns 1,780 shares of the company’s stock valued at $222,000 after purchasing an additional 103 shares in the last quarter. Cetera Investment Advisers acquired a new position in shares of ARM in the first quarter valued at approximately $3,425,000. Cetera Advisors LLC acquired a new position in shares of ARM in the first quarter valued at approximately $726,000. Mather Group LLC. acquired a new position in shares of ARM in the second quarter valued at approximately $41,000. Finally, Accel Wealth Management boosted its holdings in shares of ARM by 8.1% in the second quarter. Accel Wealth Management now owns 3,305 shares of the company’s stock valued at $541,000 after buying an additional 247 shares during the period. Institutional investors own 7.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Raymond James assumed coverage on shares of ARM in a report on Friday, September 13th. They issued an “outperform” rating and a $160.00 price target for the company. The Goldman Sachs Group upped their price target on shares of ARM from $144.00 to $159.00 and gave the company a “buy” rating in a report on Thursday, November 7th. TD Cowen upped their price target on shares of ARM from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Evercore ISI upped their price target on shares of ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Susquehanna increased their target price on shares of ARM from $115.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $150.32.

ARM Price Performance

Shares of ARM opened at $141.30 on Thursday. The firm has a market capitalization of $148.06 billion, a PE ratio of 235.50, a PEG ratio of 7.01 and a beta of 4.67. The company’s 50-day moving average is $142.79 and its 200-day moving average is $142.09. Arm Holdings plc has a fifty-two week low of $60.37 and a fifty-two week high of $188.75.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.04. The company had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. The company’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 earnings per share. Analysts predict that Arm Holdings plc will post 0.79 earnings per share for the current fiscal 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.