Dock Street Asset Management Inc. Has $6.43 Million Stock Holdings in Arm Holdings plc (NASDAQ:ARM)

Dock Street Asset Management Inc. grew its stake in Arm Holdings plc (NASDAQ:ARM) by 11.9% during the third quarter, HoldingsChannel.com reports. The firm owned 44,991 shares of the company’s stock after buying an additional 4,780 shares during the period. ARM makes up about 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 quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sei Investments Co. boosted its position in shares of ARM by 551.6% during the second quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock worth $94,790,000 after purchasing an additional 490,415 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings 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 stake in ARM by 14.2% in the second quarter. Mark Asset Management LP now owns 238,589 shares of the company’s stock valued at $39,038,000 after acquiring an additional 29,686 shares during the period. State of Michigan Retirement System bought a new stake in shares of ARM in the first quarter worth about $28,523,000. Finally, Marsico Capital Management LLC acquired a new stake in shares of ARM during the second quarter worth about $33,207,000. 7.53% of the stock is currently owned by institutional investors.

ARM Stock Performance

ARM stock traded down $1.36 during midday trading on Tuesday, reaching $150.99. 1,634,107 shares of the company’s stock were exchanged, compared to its average volume of 11,184,017. The stock’s 50-day simple moving average is $137.81 and its 200 day simple moving average is $135.42. The firm has a market cap of $158.21 billion and a price-to-earnings ratio of 387.70. Arm Holdings plc has a 52 week low of $46.50 and a 52 week high of $188.75.

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ARM shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $180.00 price target on shares of ARM in a research note on Thursday, August 1st. Daiwa Capital Markets raised shares of ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price objective on the stock in a research report on Thursday, August 8th. Loop Capital increased their target price on ARM from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. TD Cowen raised ARM to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on ARM from $82.00 to $105.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $138.57.

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.