Dock Street Asset Management Inc. Acquires 4,780 Shares of Arm Holdings plc (NASDAQ:ARM)

Dock Street Asset Management Inc. increased its position in shares of Arm Holdings plc (NASDAQ:ARM - Free Report) by 11.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,991 shares of the company's stock after buying an additional 4,780 shares during the period. ARM accounts for 0.9% of Dock Street Asset Management Inc.'s holdings, making the stock its 25th biggest holding. Dock Street Asset Management Inc.'s holdings in ARM were worth $6,434,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of ARM. Sei Investments Co. boosted its holdings in shares of ARM by 551.6% during the 2nd quarter. Sei Investments Co. now owns 579,330 shares of the company's stock worth $94,790,000 after buying an additional 490,415 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in ARM by 5.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 290,947 shares of the company's stock worth $36,366,000 after acquiring an additional 14,584 shares in the last quarter. Mark Asset Management LP grew its holdings in ARM by 14.2% in the second quarter. Mark Asset Management LP now owns 238,589 shares of the company's stock worth $39,038,000 after purchasing an additional 29,686 shares during the period. State of Michigan Retirement System bought a new stake in ARM in the first quarter valued at $28,523,000. Finally, Marsico Capital Management LLC bought a new stake in ARM in the second quarter valued at $33,207,000. Institutional investors and hedge funds own 7.53% of the company's stock.

ARM Price Performance

Shares of ARM traded up $0.23 during trading hours on Tuesday, hitting $152.58. The company's stock had a trading volume of 2,888,905 shares, compared to its average volume of 11,190,362. The business has a 50 day simple moving average of $138.38 and a two-hundred day simple moving average of $135.61. Arm Holdings plc has a 52-week low of $46.50 and a 52-week high of $188.75. The company has a market cap of $159.88 billion and a price-to-earnings ratio of 391.24.

ARM (NASDAQ:ARM - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 earnings per share for the quarter, beating analysts' consensus estimates of $0.35 by $0.05. ARM had a net margin of 12.12% and a return on equity of 18.97%. The business had revenue of $939.00 million during the quarter, compared to analyst estimates of $905.53 million. During the same period in the previous year, the business earned $0.24 EPS. ARM's revenue was up 39.1% compared to the same quarter last year. Research analysts predict that Arm Holdings plc will post 0.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ARM has been the subject of several research reports. Guggenheim raised their target price on ARM from $110.00 to $169.00 and gave the company a "buy" rating in a research note on Tuesday, June 25th. Citigroup raised their price objective on ARM from $150.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Loop Capital upped their target price on ARM from $120.00 to $130.00 and gave the stock a "buy" rating in a research report on Tuesday, August 6th. Hsbc Global Res raised shares of ARM to a "moderate sell" rating in a research report on Monday, July 29th. Finally, William Blair started coverage on shares of ARM in a research note on Wednesday, September 18th. They set an "outperform" rating for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, ARM presently has a consensus rating of "Moderate Buy" and an average target price of $138.57.

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.