Geneos Wealth Management Inc. Buys New Stake in Arm Holdings plc (NASDAQ:ARM)

Geneos Wealth Management Inc. purchased a new position in Arm Holdings plc (NASDAQ:ARM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,707 shares of the company’s stock, valued at approximately $334,000.

Other large investors have also made changes to their positions in the company. Franklin Resources Inc. grew its position in ARM by 21.7% during the 3rd quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock worth $183,265,000 after purchasing an additional 228,467 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of ARM by 14,351.1% during the third quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock valued at $1,161,670,000 after buying an additional 806,676 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of ARM by 186.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock valued at $52,279,000 after acquiring an additional 233,909 shares during the period. State Street Corp raised its stake in ARM by 19.2% in the 3rd quarter. State Street Corp now owns 221,854 shares of the company’s stock worth $31,727,000 after acquiring an additional 35,720 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in ARM during the 4th quarter worth about $22,705,000. 7.53% of the stock is owned by institutional investors and hedge funds.

ARM Price Performance

Shares of NASDAQ:ARM opened at $147.60 on Thursday. The business’s 50 day moving average price is $140.66 and its 200-day moving average price is $140.00. Arm Holdings plc has a 1 year low of $69.32 and a 1 year high of $188.75. The firm has a market capitalization of $154.66 billion, a PE ratio of 246.00, a P/E/G ratio of 8.41 and a beta of 4.53.

ARM (NASDAQ:ARM) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.04. ARM had a net margin of 18.13% and a return on equity of 13.69%. The firm had revenue of $844.00 million for the quarter, compared to the consensus estimate of $810.03 million. During the same period last year, the firm posted $0.36 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, analysts expect that Arm Holdings plc will post 0.84 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on ARM. Wells Fargo & Company raised their price objective on ARM from $155.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Susquehanna upped their price objective on shares of ARM from $118.00 to $140.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Sanford C. Bernstein cut shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 target price for the company. in a report on Thursday, October 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. lifted their price objective on ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $152.09.

ARM Company 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.