Lake Street Private Wealth LLC Decreases Stock Position in Arm Holdings plc (NASDAQ:ARM)

Lake Street Private Wealth LLC trimmed its position in shares of Arm Holdings plc (NASDAQ:ARM) by 7.7% in the 4th quarter, Holdings Channel reports. The firm owned 4,560 shares of the company’s stock after selling 378 shares during the period. Lake Street Private Wealth LLC’s holdings in ARM were worth $563,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC grew its holdings in shares of ARM by 14.0% during the third quarter. Hexagon Capital Partners LLC now owns 627 shares of the company’s stock worth $90,000 after buying an additional 77 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in ARM by 1.1% during the third quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the company’s stock worth $1,359,000 after purchasing an additional 100 shares during the period. Hobbs Group Advisors LLC lifted its holdings in ARM by 7.4% in the third quarter. Hobbs Group Advisors LLC now owns 1,454 shares of the company’s stock valued at $208,000 after acquiring an additional 100 shares during the last quarter. Great Valley Advisor Group Inc. boosted its stake in ARM by 5.5% during the third quarter. Great Valley Advisor Group Inc. now owns 1,963 shares of the company’s stock worth $281,000 after buying an additional 102 shares during the period. Finally, Crescent Sterling Ltd. lifted its holdings in shares of ARM by 6.5% in the 4th quarter. Crescent Sterling Ltd. now owns 1,879 shares of the company’s stock worth $232,000 after acquiring an additional 114 shares during the last quarter. 7.53% of the stock is owned by institutional investors and hedge funds.

ARM Stock Performance

Shares of NASDAQ:ARM opened at $149.26 on Friday. The stock has a market capitalization of $156.40 billion, a price-to-earnings ratio of 248.77, a PEG ratio of 6.57 and a beta of 4.53. Arm Holdings plc has a one year low of $69.32 and a one year high of $188.75. The company has a 50-day simple moving average of $137.33 and a 200-day simple moving average of $141.46.

ARM (NASDAQ:ARM) last announced 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 last year, the business posted $0.36 EPS. The company’s revenue was up 4.7% on a year-over-year basis. As a group, research analysts forecast that Arm Holdings plc will post 0.84 EPS for the current fiscal year.

Analyst Ratings Changes

ARM has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their target price on ARM from $144.00 to $159.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Susquehanna increased their target price on shares of ARM from $115.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Evercore ISI lifted their price objective on ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Barclays lifted their price target on shares of ARM from $145.00 to $155.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, JPMorgan Chase & Co. increased their target price on ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. 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 issued a strong buy rating to the stock. Based on data from MarketBeat, ARM presently has a consensus rating of “Moderate Buy” and a consensus target price of $151.09.

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.