Creative Planning Acquires 6,381 Shares of Arm Holdings plc (NASDAQ:ARM)

Creative Planning increased its position in Arm Holdings plc (NASDAQ:ARM) by 20.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 37,982 shares of the company’s stock after buying an additional 6,381 shares during the quarter. Creative Planning’s holdings in ARM were worth $5,432,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of ARM. Mark Sheptoff Financial Planning LLC purchased a new stake in ARM in the 1st quarter worth about $25,000. ORG Partners LLC purchased a new position in shares of ARM in the third quarter worth $29,000. Transcendent Capital Group LLC purchased a new position in shares of ARM in the second quarter worth $33,000. RiverPark Advisors LLC raised its holdings in shares of ARM by 45.3% during the second 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. purchased a new position in shares of ARM during the second quarter worth $41,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Citigroup raised their price target on shares of ARM from $150.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Evercore ISI boosted their price target on shares of ARM from $145.00 to $173.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Daiwa Capital Markets raised shares of ARM from a “neutral” rating to an “outperform” rating and set a $130.00 target price on the stock in a research note on Thursday, August 8th. TD Cowen raised shares of ARM to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Loop Capital boosted their price target on shares of ARM from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have given a buy rating and two have given 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 target price of $138.57.

ARM Trading Down 1.0 %

Shares of ARM stock opened at $141.04 on Friday. The company has a fifty day simple moving average of $138.71 and a 200-day simple moving average of $135.66. Arm Holdings plc has a 12-month low of $47.12 and a 12-month high of $188.75. The stock has a market cap of $147.79 billion and a price-to-earnings ratio of 361.65.

ARM (NASDAQ:ARM) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.35 by $0.05. ARM had a net margin of 12.12% and a return on equity of 18.97%. The firm 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 earned $0.24 EPS. ARM’s revenue for the quarter was up 39.1% on a year-over-year basis. On average, analysts forecast that Arm Holdings plc will post 0.86 earnings per share for the current fiscal 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.