Simplicity Wealth LLC Purchases New Stake in Arm Holdings plc (NASDAQ:ARM)

Simplicity Wealth LLC purchased a new stake in shares of Arm Holdings plc (NASDAQ:ARM) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,296 shares of the company’s stock, valued at approximately $1,313,000.

Other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its position in ARM by 5.4% during the fourth quarter. Bank of New York Mellon Corp now owns 105,300 shares of the company’s stock valued at $12,990,000 after buying an additional 5,440 shares during the period. Envestnet Asset Management Inc. boosted its position in ARM by 0.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 43,124 shares of the company’s stock worth $5,320,000 after purchasing an additional 353 shares during the period. Fisher Asset Management LLC boosted its position in ARM by 81.5% during the fourth quarter. Fisher Asset Management LLC now owns 3,008 shares of the company’s stock worth $371,000 after purchasing an additional 1,351 shares during the period. Geode Capital Management LLC boosted its position in ARM by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 108,531 shares of the company’s stock worth $13,388,000 after purchasing an additional 848 shares during the period. Finally, Vontobel Holding Ltd. boosted its position in ARM by 57.6% during the fourth quarter. Vontobel Holding Ltd. now owns 41,148 shares of the company’s stock worth $5,076,000 after purchasing an additional 15,046 shares during the period. Institutional investors own 7.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Needham & Company LLC reiterated a “hold” rating on shares of ARM in a research report on Thursday, May 8th. UBS Group cut their target price on shares of ARM from $215.00 to $165.00 and set a “buy” rating for the company in a research report on Tuesday, April 29th. Morgan Stanley cut their target price on shares of ARM from $175.00 to $150.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. TD Cowen cut their target price on shares of ARM from $200.00 to $155.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. Finally, Cfra Research upgraded shares of ARM to a “hold” rating in a research report on Friday, March 21st. Two analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $152.76.

ARM Price Performance

Shares of ARM opened at $140.63 on Wednesday. The firm’s 50 day simple moving average is $117.24 and its 200 day simple moving average is $130.59. The company has a market capitalization of $148.96 billion, a P/E ratio of 185.04, a P/E/G ratio of 6.33 and a beta of 4.08. Arm Holdings plc has a 1-year low of $80.00 and a 1-year high of $188.75.

ARM (NASDAQ:ARM) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.52 by $0.03. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.23 billion. ARM had a net margin of 21.82% and a return on equity of 11.94%. The business’s revenue was up 33.7% compared to the same quarter last year. During the same period last year, the firm posted $0.36 earnings per share. On average, equities analysts anticipate that Arm Holdings plc will post 0.9 earnings per share for the current year.

ARM Profile

Arm Holdings Plc engages in the licensing, marketing, research, and development of microprocessors, systems IP, graphics processing units, physical IP and associated systems IP, software, and tools. It operates through the following geographical segments: United Kingdom, United States, and Other Countries.