CHURCHILL MANAGEMENT Corp Buys New Position in Arm Holdings plc (NASDAQ:ARM)

CHURCHILL MANAGEMENT Corp purchased a new position in shares of Arm Holdings plc (NASDAQ:ARM) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 18,803 shares of the company’s stock, valued at approximately $2,320,000.

Several other hedge funds also recently made changes to their positions in ARM. Hexagon Capital Partners LLC boosted its holdings in ARM by 14.0% during the third quarter. Hexagon Capital Partners LLC now owns 627 shares of the company’s stock worth $90,000 after purchasing an additional 77 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of ARM by 1.1% during the 3rd quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the company’s stock worth $1,359,000 after buying an additional 100 shares during the last quarter. Hobbs Group Advisors LLC grew its holdings in shares of ARM by 7.4% in the 3rd quarter. Hobbs Group Advisors LLC now owns 1,454 shares of the company’s stock valued at $208,000 after acquiring an additional 100 shares in the last quarter. Great Valley Advisor Group Inc. raised its holdings in ARM by 5.5% during the third quarter. Great Valley Advisor Group Inc. now owns 1,963 shares of the company’s stock worth $281,000 after acquiring an additional 102 shares in the last quarter. Finally, Crescent Sterling Ltd. boosted its position in ARM by 6.5% during the fourth quarter. Crescent Sterling Ltd. now owns 1,879 shares of the company’s stock valued at $232,000 after purchasing an additional 114 shares during the last quarter. 7.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. TD Cowen upped their target price on shares of ARM from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Evercore ISI raised their price objective on ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Wells Fargo & Company boosted their target price on ARM from $155.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday. Sanford C. Bernstein downgraded ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price target for the company. in a report on Thursday, October 31st. Finally, UBS Group started coverage on shares of ARM in a report on Monday, November 25th. They issued a “buy” rating and a $160.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, ARM presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.64.

ARM Price Performance

Shares of ARM opened at $147.40 on Thursday. The firm has a 50 day simple moving average of $137.34 and a two-hundred day simple moving average of $141.38. The company has a market cap of $154.45 billion, a P/E ratio of 245.67, a P/E/G ratio of 7.15 and a beta of 4.53. Arm Holdings plc has a one year low of $66.66 and a one year high of $188.75.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, topping 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 business had revenue of $844.00 million during the quarter, compared to the consensus estimate of $810.03 million. During the same period in the prior year, the company earned $0.36 EPS. ARM’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, analysts expect that Arm Holdings plc will post 0.79 earnings per share 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.