Arm Holdings plc (NASDAQ:ARM) Shares Acquired by Longitude Cayman Ltd.

Longitude Cayman Ltd. increased its position in shares of Arm Holdings plc (NASDAQ:ARMFree Report) by 7.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,500 shares of the company’s stock after buying an additional 1,500 shares during the period. ARM comprises about 1.0% of Longitude Cayman Ltd.’s portfolio, making the stock its 26th biggest position. Longitude Cayman Ltd.’s holdings in ARM were worth $1,691,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in ARM in the third quarter valued at approximately $170,000. Commonwealth Equity Services LLC purchased a new stake in ARM in the third quarter valued at $629,000. Cambridge Investment Research Advisors Inc. acquired a new position in ARM in the third quarter valued at $837,000. Bank of New York Mellon Corp acquired a new position in ARM in the third quarter valued at $300,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of ARM during the third quarter worth about $56,000. Institutional investors and hedge funds own 7.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ARM. Mizuho raised their price target on ARM from $100.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a report on Thursday, May 9th. Evercore ISI dropped their price target on ARM from $156.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Sanford C. Bernstein lifted their target price on ARM from $72.00 to $92.00 and gave the company an “underperform” rating in a research note on Thursday. Finally, BNP Paribas downgraded ARM from an “outperform” rating to a “neutral” rating and set a $100.00 price target for the company. in a report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of 93.48.

Read Our Latest Stock Analysis on ARM

ARM Stock Down 3.4 %

NASDAQ:ARM traded down 3.92 during mid-day trading on Friday, reaching 110.35. The company’s stock had a trading volume of 7,523,200 shares, compared to its average volume of 10,958,569. Arm Holdings plc has a twelve month low of 46.50 and a twelve month high of 164.00. The company’s fifty day simple moving average is 116.82 and its two-hundred day simple moving average is 93.73.

ARM (NASDAQ:ARMGet Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The company reported 0.36 EPS for the quarter, topping analysts’ consensus estimates of 0.30 by 0.06. The business had revenue of 928.00 million for the quarter, compared to analyst estimates of 865.94 million. ARM had a net margin of 9.46% and a return on equity of 16.94%. The firm’s revenue for the quarter was up 46.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.02 earnings per share. On average, research analysts forecast that Arm Holdings plc will post 0.93 EPS for the current year.

ARM Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for ARM (NASDAQ:ARM)

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