Perigon Wealth Management LLC Purchases 2,570 Shares of Arm Holdings plc (NASDAQ:ARM)

Perigon Wealth Management LLC raised its holdings in shares of Arm Holdings plc (NASDAQ:ARM - Free Report) by 35.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,857 shares of the company's stock after buying an additional 2,570 shares during the period. Perigon Wealth Management LLC's holdings in ARM were worth $1,216,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ARM. Modus Advisors LLC lifted its stake in ARM by 300.2% during the fourth quarter. Modus Advisors LLC now owns 17,935 shares of the company's stock valued at $2,212,000 after buying an additional 13,453 shares in the last quarter. KP Management LLC raised its holdings in shares of ARM by 28.6% during the third quarter. KP Management LLC now owns 45,000 shares of the company's stock valued at $6,435,000 after acquiring an additional 10,000 shares during the period. XTX Topco Ltd raised its holdings in shares of ARM by 150.1% during the third quarter. XTX Topco Ltd now owns 6,486 shares of the company's stock valued at $928,000 after acquiring an additional 3,893 shares during the period. Willner & Heller LLC lifted its position in shares of ARM by 193.7% in the 3rd quarter. Willner & Heller LLC now owns 6,799 shares of the company's stock valued at $972,000 after acquiring an additional 4,484 shares in the last quarter. Finally, Avalon Global Asset Management LLC acquired a new position in ARM in the 3rd quarter worth approximately $8,581,000. Institutional investors and hedge funds own 7.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ARM. Needham & Company LLC reissued a "hold" rating on shares of ARM in a research note on Thursday, November 7th. TD Cowen upped their price target on ARM from $150.00 to $165.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. UBS Group started coverage on ARM in a research report on Monday, November 25th. They set a "buy" rating and a $160.00 price objective for the company. Evercore ISI lifted their target price on ARM from $173.00 to $176.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Finally, Barclays increased their price target on shares of ARM from $145.00 to $155.00 and gave the stock an "overweight" rating in a research report on Friday, January 17th. Two analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, ARM presently has an average rating of "Moderate Buy" and an average price target of $152.09.

ARM Price Performance

NASDAQ:ARM traded down $3.90 during midday trading on Monday, reaching $155.65. The stock had a trading volume of 4,076,575 shares, compared to its average volume of 6,851,910. The stock has a market capitalization of $163.09 billion, a P/E ratio of 259.42, a PEG ratio of 7.46 and a beta of 4.56. Arm Holdings plc has a 1-year low of $71.60 and a 1-year high of $188.75. The firm's fifty day simple moving average is $141.82 and its 200-day simple moving average is $139.60.

ARM (NASDAQ:ARM - Get Free Report) last issued 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. ARM had a return on equity of 13.69% and a net margin of 18.13%. The company had revenue of $844.00 million for the quarter, compared to the consensus estimate of $810.03 million. During the same period last year, the business posted $0.36 earnings per share. The firm's revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts anticipate that Arm Holdings plc will post 0.84 earnings per share for the current fiscal year.

ARM 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.