Private Trust Co. NA Grows Holdings in Arm Holdings plc (NASDAQ:ARM)

Private Trust Co. NA lifted its position in shares of Arm Holdings plc (NASDAQ:ARM) by 5,074.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,811 shares of the company’s stock after purchasing an additional 1,776 shares during the period. Private Trust Co. NA’s holdings in ARM were worth $259,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. ORG Partners LLC purchased a new position in shares of ARM during the 3rd quarter valued at approximately $29,000. Transcendent Capital Group LLC acquired a new position in ARM during the second quarter worth $33,000. Gilliland Jeter Wealth Management LLC lifted its holdings in ARM by 83.0% during the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock valued at $37,000 after purchasing an additional 117 shares in the last quarter. RiverPark Advisors LLC grew its position in shares of ARM by 45.3% in the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after purchasing an additional 77 shares during the period. Finally, Mather Group LLC. purchased a new stake in shares of ARM during the second quarter worth about $41,000. 7.53% of the stock is currently owned by institutional investors and hedge funds.

ARM Stock Down 2.5 %

NASDAQ:ARM opened at $133.37 on Friday. Arm Holdings plc has a 52 week low of $60.37 and a 52 week high of $188.75. The stock’s fifty day moving average is $143.07 and its two-hundred day moving average is $141.21. The company has a market capitalization of $139.75 billion, a P/E ratio of 222.28, a P/E/G ratio of 6.97 and a beta of 5.40.

ARM (NASDAQ:ARM) last issued its quarterly earnings data 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. The firm had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. ARM’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.36 EPS. Sell-side analysts anticipate that Arm Holdings plc will post 0.79 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ARM has been the topic of several research analyst reports. Evercore ISI lifted their price objective on ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Benchmark began coverage on ARM in a research note on Monday, September 16th. They issued a “hold” rating on the stock. Sanford C. Bernstein downgraded ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price objective for the company. in a research note on Thursday, October 31st. JPMorgan Chase & Co. lifted their target price on shares of ARM from $140.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company began coverage on shares of ARM in a research report on Friday, November 22nd. They issued an “overweight” rating and a $155.00 target price for the company. 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 stock. According to MarketBeat, ARM presently has an average rating of “Moderate Buy” and an average 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.