ProShare Advisors LLC Invests $16.61 Million in Arm Holdings plc (NASDAQ:ARM)

ProShare Advisors LLC purchased a new stake in shares of Arm Holdings plc (NASDAQ:ARM) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 101,519 shares of the company’s stock, valued at approximately $16,611,000.

Several other large investors have also recently added to or reduced their stakes in the company. RiverPark Advisors LLC increased its stake in 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 during the last quarter. BOKF NA grew its position in shares of ARM by 33.3% during the 1st quarter. BOKF NA now owns 400 shares of the company’s stock valued at $51,000 after buying an additional 100 shares during the last quarter. Comerica Bank raised its stake in ARM by 6.1% during the first quarter. Comerica Bank now owns 1,780 shares of the company’s stock worth $222,000 after acquiring an additional 103 shares during the period. Naples Money Management LLC lifted its holdings in ARM by 47.8% in the first quarter. Naples Money Management LLC now owns 340 shares of the company’s stock worth $42,000 after acquiring an additional 110 shares during the last quarter. Finally, Schwarz Dygos Wheeler Investment Advisors LLC lifted its holdings in ARM by 2.9% in the first quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 5,159 shares of the company’s stock worth $645,000 after acquiring an additional 145 shares during the last quarter. 7.53% of the stock is currently owned by institutional investors.

ARM Trading Up 2.0 %

Shares of ARM opened at $141.72 on Tuesday. The business’s 50-day moving average price is $134.84 and its 200 day moving average price is $132.83. The stock has a market capitalization of $148.50 billion and a P/E ratio of 145.57. Arm Holdings plc has a 1-year low of $46.50 and a 1-year high of $188.75.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.05. The business had revenue of $939.00 million for the quarter, compared to the consensus estimate of $905.53 million. ARM had a net margin of 12.12% and a return on equity of 18.97%. The firm’s quarterly revenue was up 39.1% compared to the same quarter last year. During the same period last year, the firm posted $0.24 earnings per share. On average, research analysts predict that Arm Holdings plc will post 0.82 earnings per share for the current year.

Wall Street Analyst Weigh In

ARM has been the topic of a number of research reports. Rosenblatt Securities reiterated a “buy” rating and set a $180.00 price target on shares of ARM in a research report on Thursday, August 1st. Hsbc Global Res upgraded ARM to a “moderate sell” rating in a research note on Monday, July 29th. Needham & Company LLC restated a “hold” rating on shares of ARM in a research report on Thursday, August 1st. HSBC downgraded shares of ARM from a “hold” rating to a “reduce” rating in a research report on Monday, July 29th. Finally, Guggenheim raised their price target on shares of ARM from $110.00 to $169.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, ARM has an average rating of “Moderate Buy” and a consensus price target of $125.96.

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.