LJI Wealth Management LLC Takes Position in Arm Holdings plc (NASDAQ:ARM)

LJI Wealth Management LLC bought a new stake in shares of Arm Holdings plc (NASDAQ:ARM - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,400 shares of the company's stock, valued at approximately $629,000.

Other hedge funds have also added to or reduced their stakes in the company. RiverPark Advisors LLC grew 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 in the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of ARM by 14.0% during the third quarter. Hexagon Capital Partners LLC now owns 627 shares of the company's stock worth $90,000 after purchasing an additional 77 shares in the last quarter. BOKF NA grew its holdings in shares of ARM by 33.3% during the first quarter. BOKF NA now owns 400 shares of the company's stock worth $51,000 after purchasing an additional 100 shares in the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of ARM by 1.1% during the third quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the company's stock worth $1,359,000 after purchasing an additional 100 shares in the last quarter. Finally, Comerica Bank grew its holdings in shares of ARM by 6.1% during the first quarter. Comerica Bank now owns 1,780 shares of the company's stock worth $222,000 after purchasing an additional 103 shares in the last quarter. Hedge funds and other institutional investors own 7.53% of the company's stock.

Analyst Upgrades and Downgrades

ARM has been the subject of several recent analyst reports. Rosenblatt Securities reissued a "buy" rating and set a $180.00 price objective on shares of ARM in a report on Thursday, August 1st. HSBC downgraded ARM from a "hold" rating to a "reduce" rating in a research report on Monday, July 29th. Daiwa Capital Markets upgraded ARM from a "neutral" rating to an "outperform" rating and set a $130.00 target price for the company in a research report on Thursday, August 8th. JPMorgan Chase & Co. boosted their target price on ARM from $140.00 to $160.00 and gave the stock an "overweight" rating in a research report on Thursday, November 7th. Finally, Loop Capital boosted their target price on ARM from $130.00 to $180.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $147.95.

ARM Price Performance

ARM stock traded down $7.62 during midday trading on Friday, hitting $128.73. The stock had a trading volume of 7,740,277 shares, compared to its average volume of 10,804,335. The firm has a market cap of $134.89 billion, a price-to-earnings ratio of 214.55, a price-to-earnings-growth ratio of 6.75 and a beta of 5.40. The business has a 50-day moving average of $143.60 and a two-hundred day moving average of $139.28. Arm Holdings plc has a 52-week low of $53.47 and a 52-week high of $188.75.

ARM (NASDAQ:ARM - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.04. ARM had a return on equity of 13.69% and a net margin of 18.13%. The firm had revenue of $844.00 million for the quarter, compared to analysts' expectations of $810.03 million. During the same period in the prior year, the firm posted $0.36 earnings per share. The company's quarterly revenue was up 4.7% on a year-over-year basis. Research analysts predict that Arm Holdings plc will post 0.79 earnings per share for the current year.

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.