Dock Street Asset Management Inc. Has $6.05 Million Position in Arm Holdings plc (NASDAQ:ARM)

Dock Street Asset Management Inc. boosted its stake in Arm Holdings plc (NASDAQ:ARM) by 8.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,011 shares of the company’s stock after purchasing an additional 4,020 shares during the quarter. ARM comprises about 0.7% of Dock Street Asset Management Inc.’s holdings, making the stock its 24th biggest position. Dock Street Asset Management Inc.’s holdings in ARM were worth $6,046,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Golden State Wealth Management LLC acquired a new position in shares of ARM during the fourth quarter worth approximately $175,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in ARM by 6.7% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,534 shares of the company’s stock valued at $1,916,000 after purchasing an additional 982 shares in the last quarter. Telligent Fund LP acquired a new position in ARM during the fourth quarter worth $3,331,000. Silver Oak Securities Incorporated lifted its stake in shares of ARM by 578.0% in the fourth quarter. Silver Oak Securities Incorporated now owns 6,319 shares of the company’s stock valued at $796,000 after buying an additional 5,387 shares in the last quarter. Finally, RFG Holdings Inc. grew its holdings in shares of ARM by 80.7% during the fourth quarter. RFG Holdings Inc. now owns 2,725 shares of the company’s stock valued at $336,000 after buying an additional 1,217 shares during the last quarter. 7.53% of the stock is owned by institutional investors.

ARM Stock Down 3.3 %

Shares of NASDAQ ARM opened at $167.47 on Friday. The company has a market cap of $175.48 billion, a P/E ratio of 279.12, a P/E/G ratio of 7.46 and a beta of 4.56. Arm Holdings plc has a 52 week low of $72.25 and a 52 week high of $188.75. The business has a 50-day simple moving average of $144.13 and a two-hundred day simple moving average of $140.00.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. The company had revenue of $844.00 million during the quarter, compared to analyst estimates of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. ARM’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business earned $0.36 earnings per share. Equities research analysts anticipate that Arm Holdings plc will post 0.84 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on ARM. Susquehanna lifted their price target on ARM from $118.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Loop Capital lifted their target price on ARM from $130.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, November 11th. TD Cowen raised their price objective on ARM from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Citigroup upped their target price on shares of ARM from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Wells Fargo & Company raised their price target on shares of ARM from $162.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, ARM has an average rating of “Moderate Buy” and an average price target of $162.17.

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.