Balboa Wealth Partners Makes New $550,000 Investment in Arm Holdings plc (NASDAQ:ARM)

Balboa Wealth Partners bought a new position in shares of Arm Holdings plc (NASDAQ:ARM - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,845 shares of the company's stock, valued at approximately $550,000.

Several other institutional investors and hedge funds also recently modified their holdings of ARM. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of ARM during the first quarter worth $25,000. ORG Partners LLC purchased a new stake in ARM during the third quarter valued at about $29,000. Transcendent Capital Group LLC purchased a new position in ARM in the second quarter valued at approximately $33,000. Gilliland Jeter Wealth Management LLC boosted its position 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 buying an additional 117 shares during the last quarter. Finally, RiverPark Advisors LLC lifted its stake in shares of ARM by 45.3% in the second quarter. RiverPark Advisors LLC now owns 247 shares of the company's stock worth $40,000 after acquiring an additional 77 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 topic of several analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of ARM from $82.00 to $105.00 and gave the company a "hold" rating in a research note on Thursday, August 1st. Daiwa America raised shares of ARM from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 8th. Raymond James began coverage on shares of ARM in a report on Friday, September 13th. They issued an "outperform" rating and a $160.00 price objective for the company. TD Cowen boosted their target price on ARM from $150.00 to $165.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. increased their price target 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, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, ARM has an average rating of "Moderate Buy" and an average target price of $147.95.

ARM Price Performance

Shares of NASDAQ ARM traded down $7.62 during trading hours on Friday, hitting $128.73. 7,722,492 shares of the stock were exchanged, compared to its average volume of 10,804,335. Arm Holdings plc has a one year low of $53.47 and a one year high of $188.75. The company's 50 day moving average is $143.37 and its 200 day moving average is $139.10. The firm has a market capitalization of $134.89 billion, a P/E ratio of 213.08, a P/E/G ratio of 6.75 and a beta of 5.40.

ARM (NASDAQ:ARM - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) 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 company had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. During the same period last year, the business posted $0.36 EPS. The business's quarterly revenue was up 4.7% on a year-over-year basis. Research analysts anticipate that Arm Holdings plc will post 0.79 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.