Crossmark Global Holdings Inc. Makes New Investment in Arm Holdings plc (NASDAQ:ARM)

Crossmark Global Holdings Inc. bought a new stake in Arm Holdings plc (NASDAQ:ARM) during the third quarter, HoldingsChannel reports. The firm bought 4,001 shares of the company’s stock, valued at approximately $572,000.

Several other large investors have also modified their holdings of the stock. Sigma Planning Corp increased its holdings in ARM by 878.8% in the third quarter. Sigma Planning Corp now owns 17,001 shares of the company’s stock valued at $2,431,000 after buying an additional 15,264 shares during the last quarter. Lindbrook Capital LLC increased its holdings in shares of ARM by 1,095.6% in the 3rd quarter. Lindbrook Capital LLC now owns 1,901 shares of the company’s stock valued at $272,000 after acquiring an additional 1,742 shares during the last quarter. SpiderRock Advisors LLC raised its position in shares of ARM by 1.2% during the 3rd quarter. SpiderRock Advisors LLC now owns 11,238 shares of the company’s stock valued at $1,607,000 after acquiring an additional 138 shares in the last quarter. Quantum Private Wealth LLC lifted its stake in ARM by 288.7% during the third quarter. Quantum Private Wealth LLC now owns 9,462 shares of the company’s stock worth $1,353,000 after purchasing an additional 7,028 shares during the last quarter. Finally, Lewis Asset Management LLC bought a new stake in ARM during the third quarter valued at $215,000. Institutional investors own 7.53% of the company’s stock.

Wall Street Analyst Weigh In

ARM has been the topic of a number of recent research reports. TD Cowen raised their price target on shares of ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Raymond James started coverage on shares of ARM in a report on Friday, September 13th. They issued an “outperform” rating and a $160.00 target price on the stock. William Blair started coverage on ARM in a report on Wednesday, September 18th. They set an “outperform” rating for the company. Evercore ISI raised their price target on ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, HSBC downgraded ARM from a “hold” rating to a “reduce” rating in a research note on Monday, July 29th. Two research 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 stock. According to data from MarketBeat.com, ARM presently has a consensus rating of “Moderate Buy” and an average target price of $147.95.

ARM Stock Performance

Shares of ARM stock opened at $128.73 on Friday. Arm Holdings plc has a 1 year low of $53.47 and a 1 year high of $188.75. The business’s fifty day moving average is $143.37 and its 200-day moving average is $139.10. The stock has a market cap of $134.89 billion, a PE ratio of 213.08, a price-to-earnings-growth ratio of 6.75 and a beta of 5.40.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. During the same period in the previous year, the company earned $0.36 earnings per share. ARM’s revenue was up 4.7% compared to the same quarter last year. Equities research analysts predict that Arm Holdings plc will post 0.79 earnings per share for the current year.

About ARM

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.