Cim Investment Management Inc. Buys Shares of 9,037 Arm Holdings plc (NASDAQ:ARM)

Cim Investment Management Inc. purchased a new stake in Arm Holdings plc (NASDAQ:ARM) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 9,037 shares of the company’s stock, valued at approximately $1,479,000.

Other hedge funds have also recently modified their holdings of the company. Schroder Investment Management Group bought a new stake in ARM during the fourth quarter valued at about $480,194,000. Wellington Management Group LLP boosted its holdings in shares of ARM by 56.4% in the 4th quarter. Wellington Management Group LLP now owns 4,468,720 shares of the company’s stock valued at $335,802,000 after buying an additional 1,611,926 shares in the last quarter. Robeco Schweiz AG grew its position in shares of ARM by 220.3% in the 4th quarter. Robeco Schweiz AG now owns 2,130,000 shares of the company’s stock worth $160,059,000 after buying an additional 1,465,000 shares during the last quarter. Mubadala Investment Co PJSC bought a new position in shares of ARM during the 4th quarter worth approximately $150,437,000. Finally, 1832 Asset Management L.P. purchased a new stake in ARM during the fourth quarter valued at approximately $46,890,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

ARM Price Performance

NASDAQ:ARM opened at $145.58 on Friday. The company has a 50 day moving average price of $133.29 and a 200-day moving average price of $133.25. Arm Holdings plc has a 1-year low of $46.50 and a 1-year high of $188.75. The firm has a market cap of $152.54 billion and a price-to-earnings ratio of 150.77.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. ARM had a net margin of 12.12% and a return on equity of 18.97%. The business had revenue of $939.00 million during the quarter, compared to the consensus estimate of $905.53 million. During the same quarter in the prior year, the firm posted $0.24 earnings per share. The company’s revenue was up 39.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Arm Holdings plc will post 0.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ARM. Sanford C. Bernstein raised shares of ARM from an “underperform” rating to a “market perform” rating and lifted their price target for the stock from $92.00 to $100.00 in a report on Wednesday, August 7th. Rosenblatt Securities restated a “buy” rating and set a $180.00 target price on shares of ARM in a research note on Thursday, August 1st. Benchmark began coverage on ARM in a research note on Monday, September 16th. They issued a “hold” rating for the company. TD Cowen upgraded ARM to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Hsbc Global Res raised shares of ARM to a “moderate sell” rating in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $125.96.

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.