Savoie Capital LLC Buys 10,000 Shares of Arm Holdings plc (NASDAQ:ARM)

Savoie Capital LLC boosted its position in shares of Arm Holdings plc (NASDAQ:ARM - Free Report) by 270.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,700 shares of the company's stock after acquiring an additional 10,000 shares during the quarter. Savoie Capital LLC's holdings in ARM were worth $1,959,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. ORG Partners LLC acquired a new position in shares of ARM in the third quarter valued at $29,000. Transcendent Capital Group LLC acquired a new position in ARM in the 2nd quarter valued at about $33,000. Gilliland Jeter Wealth Management LLC raised its holdings in ARM by 83.0% in the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company's stock valued at $37,000 after acquiring an additional 117 shares during the period. RiverPark Advisors LLC lifted its position in ARM by 45.3% during the second 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. bought a new stake in shares of ARM during the second quarter worth approximately $47,000. Institutional investors and hedge funds own 7.53% of the company's stock.

ARM Stock Performance

Shares of ARM stock traded down $2.50 during mid-day trading on Tuesday, hitting $137.14. 2,188,462 shares of the stock were exchanged, compared to its average volume of 10,340,853. The company has a market capitalization of $143.70 billion, a P/E ratio of 233.47, a P/E/G ratio of 7.03 and a beta of 4.71. The company has a 50-day simple moving average of $142.41 and a 200 day simple moving average of $142.86. Arm Holdings plc has a 12 month low of $62.75 and a 12 month high of $188.75.

ARM (NASDAQ:ARM - Get Free Report) last posted 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. ARM had a net margin of 18.13% and a return on equity of 13.69%. The business had revenue of $844.00 million during the quarter, compared to the consensus estimate of $810.03 million. During the same quarter last year, the company posted $0.36 earnings per share. The firm's quarterly revenue was up 4.7% compared to the same quarter last year. Analysts predict that Arm Holdings plc will post 0.79 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ARM. Sanford C. Bernstein lowered ARM from a "market perform" rating to an "underperform" rating and set a $100.00 target price on the stock. in a research note on Thursday, October 31st. Needham & Company LLC reissued a "hold" rating on shares of ARM in a research note on Thursday, November 7th. Benchmark initiated coverage on ARM in a report on Monday, September 16th. They issued a "hold" rating for the company. Raymond James assumed coverage on ARM in a research report on Friday, September 13th. They issued an "outperform" rating and a $160.00 price target on the stock. Finally, Evercore ISI raised their price objective on ARM from $173.00 to $176.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, ARM presently has a consensus rating of "Moderate Buy" and an average target price of $150.32.

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.