Van ECK Associates Corp Invests $387,000 in Arm Holdings plc (NASDAQ:ARM)

Van ECK Associates Corp bought a new stake in Arm Holdings plc (NASDAQ:ARM) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 2,714 shares of the company’s stock, valued at approximately $387,000.

Several other large investors have also modified their holdings of the stock. KP Management LLC increased its stake in ARM by 28.6% during the third quarter. KP Management LLC now owns 45,000 shares of the company’s stock valued at $6,435,000 after purchasing an additional 10,000 shares during the last quarter. Willner & Heller LLC grew 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 valued at $972,000 after buying an additional 4,484 shares during the last quarter. Lazard Asset Management LLC raised its stake in ARM by 393.0% during the first quarter. Lazard Asset Management LLC now owns 25,236 shares of the company’s stock worth $3,154,000 after acquiring an additional 20,117 shares during the period. Mizuho Securities Co. Ltd. lifted its holdings in ARM by 156.3% in the second quarter. Mizuho Securities Co. Ltd. now owns 18,400 shares of the company’s stock worth $3,011,000 after acquiring an additional 11,220 shares during the last quarter. Finally, Stephens Inc. AR boosted its stake in ARM by 312.9% in the third quarter. Stephens Inc. AR now owns 13,770 shares of the company’s stock valued at $1,969,000 after acquiring an additional 10,435 shares during the period. Institutional investors own 7.53% of the company’s stock.

Wall Street Analyst Weigh In

ARM has been the topic of several recent research reports. Barclays raised their price target on ARM from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Morgan Stanley upgraded ARM from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $107.00 to $190.00 in a research note on Friday, July 19th. The Goldman Sachs Group upped their price target 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. Rosenblatt Securities reiterated a “buy” rating and issued a $180.00 price objective on shares of ARM in a research report on Thursday, August 1st. Finally, Loop Capital upped their target price on shares of ARM from $130.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $147.95.

ARM Price Performance

ARM stock opened at $139.92 on Wednesday. The firm has a market cap of $146.61 billion, a PE ratio of 233.44, a P/E/G ratio of 6.72 and a beta of 5.40. Arm Holdings plc has a 12 month low of $50.57 and a 12 month high of $188.75. The firm has a 50 day simple moving average of $142.50 and a 200 day simple moving average of $138.88.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. The company had revenue of $844.00 million during the quarter, compared to the consensus estimate of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.36 EPS. As a group, sell-side analysts expect that Arm Holdings plc will post 0.86 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.