Freedom Investment Management Inc. Acquires 1,285 Shares of Arm Holdings plc (NASDAQ:ARM)

Freedom Investment Management Inc. raised its holdings in Arm Holdings plc (NASDAQ:ARM) by 25.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,425 shares of the company’s stock after buying an additional 1,285 shares during the quarter. Freedom Investment Management Inc.’s holdings in ARM were worth $919,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in ARM. ORG Partners LLC purchased a new stake in ARM in the third quarter worth about $29,000. Transcendent Capital Group LLC purchased a new position in shares of ARM in the 2nd quarter valued at approximately $33,000. Gilliland Jeter Wealth Management LLC boosted its position in shares of 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 boosted its position in shares of ARM by 45.3% during 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 in the last quarter. Finally, Mather Group LLC. purchased a new stake in ARM in the second quarter worth $41,000. 7.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ARM has been the topic of a number of research reports. Loop Capital boosted their target price on shares of ARM from $130.00 to $180.00 and gave the company a “buy” rating in a report on Monday, November 11th. TD Cowen boosted their price objective on shares of ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Raymond James began coverage on shares of ARM in a report on Friday, September 13th. They issued an “outperform” rating and a $160.00 price objective on the stock. UBS Group assumed coverage on ARM in a research report on Monday. They issued a “buy” rating and a $160.00 price target on the stock. Finally, Rosenblatt Securities restated a “buy” rating and issued a $180.00 price target on shares of ARM in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $150.32.

ARM Trading Down 2.5 %

ARM opened at $133.37 on Friday. Arm Holdings plc has a 1-year low of $60.37 and a 1-year high of $188.75. The firm’s 50 day simple moving average is $143.07 and its two-hundred day simple moving average is $141.21. The company has a market capitalization of $139.75 billion, a PE ratio of 222.28, a PEG ratio of 6.97 and a beta of 5.40.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, beating 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 company had revenue of $844.00 million for the quarter, compared to the consensus estimate of $810.03 million. During the same period in the previous year, the business earned $0.36 earnings per share. ARM’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities analysts forecast 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.