Mark Asset Management LP Has $39.04 Million Stock Holdings in Arm Holdings plc (NASDAQ:ARM)

Mark Asset Management LP boosted its holdings in shares of Arm Holdings plc (NASDAQ:ARM) by 14.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 238,589 shares of the company’s stock after buying an additional 29,686 shares during the period. ARM comprises 3.9% of Mark Asset Management LP’s portfolio, making the stock its 5th largest holding. Mark Asset Management LP’s holdings in ARM were worth $39,038,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. RiverPark Advisors LLC grew its stake in shares of ARM by 45.3% in the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after purchasing an additional 77 shares during the period. BOKF NA grew its position in ARM by 33.3% in the first quarter. BOKF NA now owns 400 shares of the company’s stock valued at $51,000 after acquiring an additional 100 shares during the period. Comerica Bank raised its stake in ARM by 6.1% during the first quarter. Comerica Bank now owns 1,780 shares of the company’s stock worth $222,000 after acquiring an additional 103 shares in the last quarter. Naples Money Management LLC lifted its holdings in shares of ARM by 47.8% during the first quarter. Naples Money Management LLC now owns 340 shares of the company’s stock valued at $42,000 after acquiring an additional 110 shares during the period. Finally, Schwarz Dygos Wheeler Investment Advisors LLC lifted its holdings in shares of ARM by 2.9% during the first quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 5,159 shares of the company’s stock valued at $645,000 after acquiring an additional 145 shares during the period. Institutional investors own 7.53% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ARM. Raymond James initiated 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. Daiwa Capital Markets raised shares of ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price objective for the company in a report on Thursday, August 8th. Bank of America lifted their target price on shares of ARM from $150.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Daiwa America upgraded ARM from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, HSBC downgraded ARM from a “hold” rating to a “reduce” rating in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $125.96.

ARM Price Performance

ARM stock opened at $149.16 on Friday. The company’s 50 day simple moving average is $133.65 and its 200 day simple moving average is $133.12. The firm has a market capitalization of $156.29 billion and a price-to-earnings ratio of 150.77. Arm Holdings plc has a fifty-two week low of $46.50 and a fifty-two week high of $188.75.

ARM (NASDAQ:ARM) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. ARM had a return on equity of 18.97% and a net margin of 12.12%. The company had revenue of $939.00 million for the quarter, compared to analyst estimates of $905.53 million. During the same quarter last year, the firm posted $0.24 earnings per share. ARM’s revenue was up 39.1% compared to the same quarter last year. As a group, analysts predict that Arm Holdings plc will post 0.86 EPS for the current fiscal 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.