Commerce Bank Takes $276,000 Position in Arm Holdings plc (NASDAQ:ARM)

Commerce Bank purchased a new position in shares of Arm Holdings plc (NASDAQ:ARM) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,928 shares of the company’s stock, valued at approximately $276,000.

Several other large investors have also bought and sold shares of ARM. RiverPark Advisors LLC grew its position in shares of ARM by 45.3% during the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after buying an additional 77 shares during the period. Hexagon Capital Partners LLC boosted its stake in ARM by 14.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 627 shares of the company’s stock worth $90,000 after acquiring an additional 77 shares during the last quarter. BOKF NA grew its holdings in ARM by 33.3% during the first quarter. BOKF NA now owns 400 shares of the company’s stock valued at $51,000 after purchasing an additional 100 shares during the period. Louisiana State Employees Retirement System increased its stake in ARM by 1.1% in the third quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the company’s stock valued at $1,359,000 after purchasing an additional 100 shares in the last quarter. Finally, Comerica Bank raised its holdings in ARM by 6.1% in the first quarter. Comerica Bank now owns 1,780 shares of the company’s stock worth $222,000 after purchasing an additional 103 shares during the period. 7.53% of the stock is currently owned by institutional investors and hedge funds.

ARM Trading Down 2.5 %

NASDAQ:ARM opened at $133.37 on Thursday. The stock has a market capitalization of $139.75 billion, a PE ratio of 222.29, a P/E/G ratio of 6.97 and a beta of 5.40. Arm Holdings plc has a 1-year low of $60.37 and a 1-year high of $188.75. The firm has a fifty day simple moving average of $143.22 and a 200 day simple moving average of $141.27.

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 net margin of 18.13% and a return on equity of 13.69%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 EPS. On average, equities analysts predict that Arm Holdings plc will post 0.79 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ARM has been the topic of several recent analyst reports. Barclays lifted their target price on ARM from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. The Goldman Sachs Group lifted their price objective on ARM from $144.00 to $159.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Rosenblatt Securities reissued a “buy” rating and set a $180.00 target price on shares of ARM in a research note on Thursday, August 1st. William Blair assumed coverage on shares of ARM in a research note on Wednesday, September 18th. They issued an “outperform” rating on the stock. Finally, Evercore ISI increased their price objective on shares of ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $150.32.

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.