CIBC Asset Management Inc Grows Stake in Arm Holdings plc (NASDAQ:ARM)

CIBC Asset Management Inc grew its position in Arm Holdings plc (NASDAQ:ARM) by 9.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 20,585 shares of the company’s stock after purchasing an additional 1,840 shares during the quarter. CIBC Asset Management Inc’s holdings in ARM were worth $2,944,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Envestnet Portfolio Solutions Inc. purchased a new stake in ARM in the first quarter worth about $222,000. Empowered Funds LLC bought a new position in shares of ARM during the first quarter valued at approximately $252,000. Avantax Advisory Services Inc. purchased a new position in ARM during the first quarter valued at approximately $340,000. Blair William & Co. IL bought a new position in ARM in the first quarter worth approximately $302,000. Finally, Acadian Asset Management LLC lifted its holdings in ARM by 606.7% during the first quarter. Acadian Asset Management LLC now owns 24,524 shares of the company’s stock worth $3,058,000 after buying an additional 21,054 shares during the period. Institutional investors own 7.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ARM shares. Loop Capital lifted their price target on ARM from $130.00 to $180.00 and gave the company a “buy” rating in a report on Monday, November 11th. The Goldman Sachs Group boosted their target price on shares of ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Benchmark began coverage on shares of ARM in a report on Monday, September 16th. They issued a “hold” rating on the stock. Citigroup boosted their price objective on shares of ARM from $150.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, TD Cowen raised their target price on shares of ARM from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $147.95.

ARM Trading Down 0.1 %

Shares of NASDAQ:ARM opened at $128.66 on Tuesday. The company has a market capitalization of $134.81 billion, a PE ratio of 214.44, a PEG ratio of 6.43 and a beta of 5.40. Arm Holdings plc has a 12-month low of $55.27 and a 12-month high of $188.75. The business has a 50 day moving average of $143.67 and a two-hundred day moving average of $140.07.

ARM (NASDAQ:ARM) last released its quarterly 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. The company 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%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business earned $0.36 earnings per share. Equities research analysts predict that Arm Holdings plc will post 0.79 earnings per share for the current fiscal year.

ARM Company 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.