First National Bank of Hutchinson Buys Shares of 1,847 Arm Holdings plc (NASDAQ:ARM)

First National Bank of Hutchinson purchased a new position in shares of Arm Holdings plc (NASDAQ:ARM) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,847 shares of the company’s stock, valued at approximately $264,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Willner & Heller LLC grew its holdings in ARM by 193.7% during the 3rd quarter. Willner & Heller LLC now owns 6,799 shares of the company’s stock worth $972,000 after acquiring an additional 4,484 shares in the last quarter. Lazard Asset Management LLC increased its holdings in ARM by 393.0% in the first quarter. Lazard Asset Management LLC now owns 25,236 shares of the company’s stock valued at $3,154,000 after buying an additional 20,117 shares during the last quarter. Mizuho Securities Co. Ltd. raised its stake in ARM by 156.3% during the second quarter. Mizuho Securities Co. Ltd. now owns 18,400 shares of the company’s stock valued at $3,011,000 after buying an additional 11,220 shares in the last quarter. Vontobel Holding Ltd. lifted its holdings in ARM by 42.5% during the 3rd quarter. Vontobel Holding Ltd. now owns 26,102 shares of the company’s stock worth $3,733,000 after buying an additional 7,790 shares during the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of ARM in the 2nd quarter worth approximately $4,090,000. Institutional investors own 7.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ARM shares. Hsbc Global Res upgraded ARM to a “moderate sell” rating in a research note on Monday, July 29th. Rosenblatt Securities restated a “buy” rating and issued a $180.00 price target on shares of ARM in a research report on Thursday, August 1st. Sanford C. Bernstein raised shares of ARM from an “underperform” rating to a “market perform” rating and lifted their price target for the company from $92.00 to $100.00 in a report on Wednesday, August 7th. Citigroup increased 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, HSBC downgraded ARM from a “hold” rating to a “reduce” rating in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $138.57.

ARM Stock Performance

ARM opened at $142.41 on Thursday. The company has a market capitalization of $149.22 billion and a PE ratio of 365.16. The stock’s fifty day moving average is $138.71 and its 200-day moving average is $135.66. Arm Holdings plc has a one year low of $47.12 and a one year high of $188.75.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.35 by $0.05. ARM had a net margin of 12.12% and a return on equity of 18.97%. The firm had revenue of $939.00 million for the quarter, compared to analysts’ expectations of $905.53 million. During the same period in the previous year, the business earned $0.24 earnings per share. ARM’s revenue for the quarter was up 39.1% compared to the same quarter last year. On average, equities research analysts forecast that Arm Holdings plc will post 0.86 EPS for the current fiscal year.

ARM 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.