Apollon Wealth Management LLC Boosts Holdings in Arm Holdings plc (NASDAQ:ARM)

Apollon Wealth Management LLC lifted its stake in Arm Holdings plc (NASDAQ:ARM) by 79.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,338 shares of the company’s stock after buying an additional 1,035 shares during the period. Apollon Wealth Management LLC’s holdings in ARM were worth $334,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. ORG Partners LLC purchased a new position in shares of ARM in the 3rd quarter valued at $29,000. Transcendent Capital Group LLC purchased a new position in ARM during the 2nd quarter worth $33,000. Gilliland Jeter Wealth Management LLC grew its position in ARM by 83.0% during the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after purchasing an additional 117 shares during the last quarter. RiverPark Advisors LLC grew its position in ARM by 45.3% during the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after purchasing an additional 77 shares during the last quarter. Finally, Mather Group LLC. acquired a new stake in shares of ARM in the 2nd quarter worth $41,000. 7.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on ARM. HSBC cut shares of ARM from a “hold” rating to a “reduce” rating in a research note on Monday, July 29th. Rosenblatt Securities restated a “buy” rating and issued a $180.00 target price on shares of ARM in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft raised their target price on shares of ARM from $82.00 to $105.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Loop Capital raised their target price on shares of ARM from $130.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, TD Cowen raised their price objective on shares of ARM from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $147.95.

ARM Price Performance

Shares of NASDAQ ARM opened at $128.73 on Monday. The company has a market cap of $134.89 billion, a PE ratio of 214.55, a price-to-earnings-growth ratio of 6.43 and a beta of 5.40. Arm Holdings plc has a 12 month low of $53.47 and a 12 month high of $188.75. The company has a 50-day simple moving average of $143.60 and a 200-day simple moving average of $139.86.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. The business had revenue of $844.00 million during the quarter, compared to the consensus estimate of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.36 earnings per share. On average, analysts anticipate that Arm Holdings plc will post 0.79 EPS 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.