Cibc World Market Inc. Grows Stake in Arm Holdings plc (NASDAQ:ARM)

Cibc World Market Inc. raised its stake in shares of Arm Holdings plc (NASDAQ:ARM) by 18.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 219,613 shares of the company’s stock after purchasing an additional 34,847 shares during the period. Cibc World Market Inc.’s holdings in ARM were worth $27,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of ARM. Franklin Resources Inc. grew its holdings in ARM by 21.7% during the 3rd quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock valued at $183,265,000 after purchasing an additional 228,467 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of ARM by 14,351.1% during the third quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock valued at $1,161,670,000 after buying an additional 806,676 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of ARM by 186.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock worth $52,279,000 after buying an additional 233,909 shares during the period. State Street Corp lifted its stake in shares of ARM by 19.2% during the 3rd quarter. State Street Corp now owns 221,854 shares of the company’s stock worth $31,727,000 after acquiring an additional 35,720 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in ARM during the 4th quarter valued at $22,705,000. 7.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Loop Capital increased their target price on ARM from $130.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. lifted their price objective on shares of ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Needham & Company LLC reissued a “hold” rating on shares of ARM in a research report on Thursday, November 7th. The Goldman Sachs Group raised their target price on shares of ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Susquehanna boosted their price target on ARM from $118.00 to $140.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $152.09.

ARM Trading Up 4.1 %

Shares of ARM stock opened at $159.55 on Friday. The company has a market cap of $167.18 billion, a PE ratio of 265.92, a PEG ratio of 6.90 and a beta of 4.53. Arm Holdings plc has a 12-month low of $69.32 and a 12-month high of $188.75. The business’s fifty day simple moving average is $141.35 and its 200-day simple moving average is $140.15.

ARM (NASDAQ:ARM) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. ARM had a return on equity of 13.69% and a net margin of 18.13%. The company had revenue of $844.00 million during the quarter, compared to analysts’ expectations of $810.03 million. During the same period last year, the business posted $0.36 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. On average, equities analysts forecast that Arm Holdings plc will post 0.84 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.