Virtu Financial LLC Makes New Investment in Arm Holdings plc (NASDAQ:ARM)

Virtu Financial LLC bought a new position in Arm Holdings plc (NASDAQ:ARM - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,134 shares of the company's stock, valued at approximately $1,163,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. ORG Partners LLC acquired a new position in ARM in the third quarter valued at about $29,000. Transcendent Capital Group LLC acquired a new position in shares of ARM in the 2nd quarter worth approximately $33,000. Gilliland Jeter Wealth Management LLC boosted its holdings in shares of ARM by 83.0% in the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company's stock worth $37,000 after acquiring an additional 117 shares in the last quarter. RiverPark Advisors LLC grew its position in ARM by 45.3% during the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company's stock worth $40,000 after acquiring an additional 77 shares during the last quarter. Finally, Oakworth Capital Inc. acquired a new stake in ARM during the 2nd quarter valued at $47,000. Institutional investors own 7.53% of the company's stock.

Analyst Upgrades and Downgrades

ARM has been the subject of several research reports. Evercore ISI raised their price objective on shares of ARM from $173.00 to $176.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. The Goldman Sachs Group boosted their price objective on shares of ARM from $144.00 to $159.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Susquehanna increased their price objective on ARM from $115.00 to $118.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. Needham & Company LLC restated a "hold" rating on shares of ARM in a research report on Thursday, November 7th. Finally, Raymond James began coverage on ARM in a report on Friday, September 13th. They issued an "outperform" rating and a $160.00 price target on the stock. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $150.32.

ARM Price Performance

NASDAQ:ARM traded up $3.91 on Friday, hitting $151.91. 8,140,439 shares of the company's stock were exchanged, compared to its average volume of 10,298,124. The firm has a 50-day moving average price of $142.98 and a 200-day moving average price of $143.32. Arm Holdings plc has a 52 week low of $65.11 and a 52 week high of $188.75. The company has a market cap of $159.18 billion, a P/E ratio of 253.18, a price-to-earnings-growth ratio of 7.15 and a beta of 4.67.

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