Arm Holdings plc (NASDAQ:ARM) Shares Purchased by Pacer Advisors Inc.

Pacer Advisors Inc. grew its stake in shares of Arm Holdings plc (NASDAQ:ARM) by 674.8% during the second quarter, Holdings Channel reports. The institutional investor owned 6,493 shares of the company’s stock after acquiring an additional 5,655 shares during the period. Pacer Advisors Inc.’s holdings in ARM were worth $1,062,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. RiverPark Advisors LLC raised its position in ARM by 45.3% in the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after acquiring an additional 77 shares in the last quarter. BOKF NA lifted its stake 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 last quarter. Comerica Bank boosted its holdings 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 buying an additional 103 shares in the last quarter. Naples Money Management LLC grew its position in ARM by 47.8% in the first quarter. Naples Money Management LLC now owns 340 shares of the company’s stock worth $42,000 after buying an additional 110 shares during the last quarter. Finally, Schwarz Dygos Wheeler Investment Advisors LLC increased its holdings in shares of ARM by 2.9% in the first quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 5,159 shares of the company’s stock valued at $645,000 after buying an additional 145 shares in the last quarter. 7.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ARM. Sanford C. Bernstein raised ARM from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $92.00 to $100.00 in a research note on Wednesday, August 7th. TD Cowen upgraded ARM to a “strong-buy” rating in a research report on Monday, September 16th. Citigroup upped their price objective on shares of ARM from $150.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. HSBC downgraded shares of ARM from a “hold” rating to a “reduce” rating in a research report on Monday, July 29th. Finally, The Goldman Sachs Group upped their price target on shares of ARM from $110.00 to $143.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $125.96.

ARM Stock Down 2.4 %

Shares of ARM opened at $145.58 on Friday. The stock’s 50-day moving average price is $133.29 and its 200 day moving average price is $133.25. The firm has a market capitalization of $152.54 billion and a price-to-earnings ratio of 150.77. Arm Holdings plc has a 12-month low of $46.50 and a 12-month high of $188.75.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. The business had revenue of $939.00 million for the quarter, compared to analysts’ expectations of $905.53 million. ARM had a return on equity of 18.97% and a net margin of 12.12%. ARM’s quarterly revenue was up 39.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.24 earnings per share. Equities research analysts expect that Arm Holdings plc will post 0.86 EPS 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.