Y Intercept Hong Kong Ltd Buys Shares of 4,804 Arm Holdings plc (NASDAQ:ARM)

Y Intercept Hong Kong Ltd bought a new position in shares of Arm Holdings plc (NASDAQ:ARM - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,804 shares of the company's stock, valued at approximately $687,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Comerica Bank increased its stake in shares of ARM by 6.1% during the 1st quarter. Comerica Bank now owns 1,780 shares of the company's stock valued at $222,000 after acquiring an additional 103 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in ARM by 26.4% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 2,243 shares of the company's stock worth $367,000 after purchasing an additional 468 shares during the period. Brookstone Capital Management acquired a new position in shares of ARM in the 2nd quarter valued at $203,000. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of ARM by 172.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 21,440 shares of the company's stock valued at $3,508,000 after purchasing an additional 13,574 shares during the last quarter. Finally, Oakworth Capital Inc. purchased a new stake in shares of ARM during the 2nd quarter valued at $47,000. 7.53% of the stock is owned by hedge funds and other institutional investors.

ARM Stock Performance

Shares of NASDAQ ARM traded up $3.91 during midday trading on Friday, hitting $151.91. The company's stock had a trading volume of 8,140,439 shares, compared to its average volume of 10,298,124. The firm has a market cap of $159.18 billion, a P/E ratio of 253.18, a P/E/G ratio of 7.15 and a beta of 4.67. Arm Holdings plc has a 1-year low of $65.11 and a 1-year high of $188.75. The firm's fifty day moving average price is $142.98 and its 200-day moving average price is $143.32.

ARM (NASDAQ:ARM - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $0.30 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 during the quarter, compared to analyst estimates of $810.03 million. During the same period in the prior year, the company earned $0.36 earnings per share. The business's revenue was up 4.7% compared to the same quarter last year. As a group, research analysts predict that Arm Holdings plc will post 0.79 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ARM shares. Benchmark began coverage on ARM in a report on Monday, September 16th. They issued a "hold" rating on the stock. Evercore ISI boosted their target price on ARM from $173.00 to $176.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. JPMorgan Chase & Co. raised their price target on shares of ARM from $140.00 to $160.00 and gave the company an "overweight" rating in a report on Thursday, November 7th. TD Cowen boosted their price objective on shares of ARM from $150.00 to $165.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Finally, Raymond James assumed coverage on shares of ARM in a research note on Friday, September 13th. They issued an "outperform" rating and a $160.00 target price on the stock. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $150.32.

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.