Crossmark Global Holdings Inc. Purchases New Stake in Arm Holdings plc (NASDAQ:ARM)

Crossmark Global Holdings Inc. bought a new stake in Arm Holdings plc (NASDAQ:ARM - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,001 shares of the company's stock, valued at approximately $572,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ARM. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of ARM during the first quarter worth $25,000. ORG Partners LLC acquired a new stake in ARM in the 3rd quarter worth about $29,000. Transcendent Capital Group LLC acquired a new stake in ARM in the 2nd quarter worth about $33,000. Gilliland Jeter Wealth Management LLC grew 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 buying an additional 117 shares during the period. Finally, RiverPark Advisors LLC increased its stake in shares of ARM by 45.3% during the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company's stock valued at $40,000 after acquiring an additional 77 shares during the last quarter. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group boosted their target price on shares of ARM from $144.00 to $159.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Citigroup increased their target price on ARM from $150.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, August 1st. HSBC cut ARM from a "hold" rating to a "reduce" rating in a report on Monday, July 29th. Rosenblatt Securities restated a "buy" rating and issued a $180.00 price objective on shares of ARM in a report on Thursday, August 1st. Finally, Hsbc Global Res upgraded ARM to a "moderate sell" rating in a report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, ARM has an average rating of "Moderate Buy" and a consensus target price of $147.95.

ARM Trading Down 5.6 %

ARM stock traded down $7.62 during midday trading on Friday, hitting $128.73. 7,740,277 shares of the company's stock were exchanged, compared to its average volume of 10,804,335. The firm has a 50 day moving average price of $143.60 and a 200-day moving average price of $139.28. Arm Holdings plc has a 12-month low of $53.47 and a 12-month high of $188.75. The stock has a market capitalization 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.

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, beating the consensus estimate of $0.26 by $0.04. The firm had revenue of $844.00 million for the quarter, compared to analysts' expectations of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. The firm's quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.36 earnings per share. On average, sell-side analysts forecast that Arm Holdings plc will post 0.79 EPS 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.