Bbva Compass Bancshares Inc. increased its position in ARM Holdings plc (NASDAQ:ARMH) by 10.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 96,985 shares of the company’s stock after buying an additional 9,417 shares during the period. Bbva Compass Bancshares Inc.’s holdings in ARM Holdings plc were worth $4,413,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the company. Checchi Capital Advisers LLC boosted its position in shares of ARM Holdings plc by 3.1% in the second quarter. Checchi Capital Advisers LLC now owns 2,925 shares of the company’s stock worth $133,000 after buying an additional 88 shares during the period. Bessemer Group Inc. boosted its position in ARM Holdings plc by 158.7% in the first quarter. Bessemer Group Inc. now owns 3,185 shares of the company’s stock valued at $139,000 after buying an additional 1,954 shares during the period. Seven Eight Capital LLC acquired a new position in ARM Holdings plc during the first quarter valued at about $183,000. Raymond James Trust N.A. boosted its position in ARM Holdings plc by 7.0% in the second quarter. Raymond James Trust N.A. now owns 5,598 shares of the company’s stock valued at $255,000 after buying an additional 364 shares during the period. Finally, Creative Planning boosted its position in ARM Holdings plc by 0.3% in the second quarter. Creative Planning now owns 6,028 shares of the company’s stock valued at $274,000 after buying an additional 21 shares during the period. 19.67% of the stock is currently owned by institutional investors and hedge funds.
Shares of ARM Holdings plc (NASDAQ:ARMH) remained flat at $67.77 on Tuesday. The firm’s 50-day moving average is $65.71 and its 200 day moving average is $48.36. ARM Holdings plc has a 12 month low of $36.68 and a 12 month high of $67.93.
ARM Holdings plc (NASDAQ:ARMH) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.36 by $0.27. ARM Holdings plc had a return on equity of 20.44% and a net margin of 34.03%. The business earned $267.60 million during the quarter, compared to analysts’ expectations of $393.45 million. During the same quarter in the previous year, the company posted $0.07 earnings per share. The company’s quarterly revenue was up 17.1% compared to the same quarter last year. On average, analysts predict that ARM Holdings plc will post $1.48 EPS for the current year.
Several research firms have recently issued reports on ARMH. Canaccord Genuity reissued a “buy” rating on shares of ARM Holdings plc in a research note on Sunday, June 26th. Berenberg Bank cut ARM Holdings plc from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Zacks Investment Research raised ARM Holdings plc from a “sell” rating to a “hold” rating in a research note on Friday, September 2nd. Benchmark Co. cut ARM Holdings plc from a “buy” rating to a “hold” rating and set a $67.21 target price on the stock. in a research note on Monday, July 18th. Finally, William Blair cut ARM Holdings plc from an “outperform” rating to a “market perform” rating in a research note on Monday, July 18th. Twenty-three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $52.43.
About ARM Holdings plc
ARM Holdings plc (ARM) is a company engaged in designing a range of inter-related intellectual property (IP), including microprocessors, Physical IP, and supporting software and tools. Its product offering includes 16/32/64-bit reduced instruction set computing (RISC) microprocessors, data engines, graphics processors, digital libraries, embedded memories, peripherals, software and development tools, as well as analog functions and high-speed connectivity products.
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