CHURCHILL MANAGEMENT Corp Makes New Investment in Arm Holdings plc (NASDAQ:ARM)

CHURCHILL MANAGEMENT Corp purchased a new position in Arm Holdings plc (NASDAQ:ARM - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,803 shares of the company's stock, valued at approximately $2,320,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ORG Partners LLC bought a new stake in shares of ARM during the 3rd quarter valued at $29,000. Gilliland Jeter Wealth Management LLC lifted its holdings in shares of ARM by 83.0% during the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company's stock valued at $37,000 after purchasing an additional 117 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of ARM in the 3rd quarter worth approximately $52,000. Farther Finance Advisors LLC grew its stake in shares of ARM by 45.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 417 shares of the company's stock worth $60,000 after buying an additional 131 shares during the last quarter. Finally, First Community Trust NA bought a new position in ARM during the 3rd quarter valued at approximately $70,000. 7.53% of the stock is owned by hedge funds and other institutional investors.

ARM Stock Up 0.1 %

NASDAQ:ARM traded up $0.12 during trading hours on Thursday, hitting $147.52. 4,348,542 shares of the stock traded hands, compared to its average volume of 4,597,029. The stock has a 50 day moving average price of $137.40 and a 200 day moving average price of $141.42. The company has a market cap of $154.58 billion, a price-to-earnings ratio of 245.87, a price-to-earnings-growth ratio of 6.57 and a beta of 4.53. Arm Holdings plc has a 1 year low of $66.66 and a 1 year high of $188.75.

ARM (NASDAQ:ARM - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, beating 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 company had revenue of $844.00 million for the quarter, compared to analysts' expectations of $810.03 million. During the same quarter in the previous year, the company earned $0.36 EPS. ARM's revenue for the quarter was up 4.7% on a year-over-year basis. Equities analysts forecast that Arm Holdings plc will post 0.84 earnings per share for the current fiscal year.

Analyst Ratings Changes

ARM has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their target price on ARM from $140.00 to $160.00 and gave the stock an "overweight" rating in a research note on Thursday, November 7th. Needham & Company LLC reissued a "hold" rating on shares of ARM in a research report on Thursday, November 7th. Wells Fargo & Company lifted their target price on shares of ARM from $155.00 to $162.00 and gave the stock an "overweight" rating in a report on Monday. Susquehanna increased their price target on shares of ARM from $115.00 to $118.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Finally, Barclays boosted their price objective on shares of ARM from $125.00 to $145.00 and gave the stock an "overweight" rating in a report on Thursday, November 7th. Two 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $150.64.

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.