Arkadios Wealth Advisors Grows Stock Position in Arm Holdings plc (NASDAQ:ARM)

Arkadios Wealth Advisors raised its holdings in Arm Holdings plc (NASDAQ:ARM) by 9.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,953 shares of the company’s stock after acquiring an additional 333 shares during the period. Arkadios Wealth Advisors’ holdings in ARM were worth $565,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ARM. International Assets Investment Management LLC boosted its position in shares of ARM by 14,351.1% in the third quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock worth $1,161,670,000 after acquiring an additional 806,676 shares during the last quarter. Sei Investments Co. increased its position in ARM by 551.6% during the second quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock worth $94,790,000 after purchasing an additional 490,415 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in ARM by 186.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock worth $52,279,000 after purchasing an additional 233,909 shares during the period. Marsico Capital Management LLC acquired a new position in shares of ARM in the 2nd quarter valued at $33,207,000. Finally, Zevenbergen Capital Investments LLC purchased a new stake in shares of ARM during the 1st quarter valued at $23,704,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

ARM Stock Up 4.8 %

ARM stock opened at $157.17 on Wednesday. The company has a market capitalization of $164.69 billion and a PE ratio of 403.01. The stock’s 50 day moving average is $140.09 and its two-hundred day moving average is $136.29. Arm Holdings plc has a 52-week low of $47.12 and a 52-week high of $188.75.

ARM (NASDAQ:ARM) last announced its quarterly earnings data 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 company had revenue of $939.00 million during the quarter, compared to analyst estimates of $905.53 million. ARM had a net margin of 12.12% and a return on equity of 18.97%. The firm’s revenue for the quarter was up 39.1% compared to the same quarter last year. During the same period last year, the business earned $0.24 EPS. As a group, sell-side analysts anticipate that Arm Holdings plc will post 0.86 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on ARM shares. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a research report on Thursday, August 1st. Sanford C. Bernstein upgraded ARM from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $92.00 to $100.00 in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft boosted their target price on ARM from $82.00 to $105.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Evercore ISI raised their price target on shares of ARM from $145.00 to $173.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Finally, Loop Capital boosted their price objective on shares of ARM from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, ARM has an average rating of “Moderate Buy” and a consensus target price of $138.57.

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.