Sequoia Financial Advisors LLC Makes New $402,000 Investment in Arm Holdings plc (NASDAQ:ARM)

Sequoia Financial Advisors LLC acquired a new position in Arm Holdings plc (NASDAQ:ARM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,348 shares of the company’s stock, valued at approximately $402,000.

Other hedge funds have also bought and sold shares of the company. Hoey Investments Inc. purchased a new stake in ARM in the 3rd quarter worth approximately $27,000. Armstrong Advisory Group Inc. purchased a new position in shares of ARM during the 3rd quarter valued at approximately $27,000. Centerpoint Advisors LLC purchased a new position in shares of ARM during the 3rd quarter valued at approximately $32,000. Ancora Advisors LLC purchased a new position in shares of ARM during the 3rd quarter valued at approximately $32,000. Finally, Bamco Inc. NY purchased a new position in shares of ARM during the 3rd quarter valued at approximately $37,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ARM. JPMorgan Chase & Co. increased their target price on ARM from $70.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. Daiwa Capital Markets lowered ARM from a “buy” rating to a “neutral” rating and increased their target price for the company from $63.00 to $130.00 in a research report on Friday, February 16th. TD Cowen increased their target price on ARM from $80.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. Rosenblatt Securities increased their target price on ARM from $140.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Finally, Evercore ISI began coverage on ARM in a research note on Tuesday. They issued an “outperform” rating and a $156.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, ARM currently has an average rating of “Moderate Buy” and a consensus price target of 89.88.

ARM Stock Down 12.0 %

Shares of ARM opened at 107.56 on Thursday. Arm Holdings plc has a 52-week low of 46.50 and a 52-week high of 164.00. The stock has a fifty day simple moving average of 129.18 and a two-hundred day simple moving average of 85.98.

ARM (NASDAQ:ARM) last released its quarterly earnings results on Wednesday, February 7th. The company reported 0.29 earnings per share for the quarter, topping analysts’ consensus estimates of 0.25 by 0.04. The business had revenue of 824.00 million for the quarter, compared to analysts’ expectations of 762.50 million. The company’s revenue was up 13.8% on a year-over-year basis. As a group, research analysts predict that Arm Holdings plc will post 0.36 EPS 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.