HB Wealth Management LLC grew its stake in shares of Arm Holdings plc (NASDAQ:ARM – Free Report) by 121.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 6,051 shares of the company’s stock after buying an additional 3,322 shares during the quarter. HB Wealth Management LLC’s holdings in ARM were worth $747,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in ARM. Westend Capital Management LLC boosted its holdings in ARM by 0.7% in the fourth quarter. Westend Capital Management LLC now owns 82,901 shares of the company’s stock worth $10,227,000 after acquiring an additional 572 shares in the last quarter. B & T Capital Management DBA Alpha Capital Management lifted its holdings in shares of ARM by 79.5% in the 4th quarter. B & T Capital Management DBA Alpha Capital Management now owns 3,896 shares of the company’s stock worth $481,000 after purchasing an additional 1,725 shares in the last quarter. Empirical Asset Management LLC grew its position in ARM by 2.4% in the 4th quarter. Empirical Asset Management LLC now owns 8,525 shares of the company’s stock valued at $1,052,000 after purchasing an additional 200 shares during the period. CHURCHILL MANAGEMENT Corp bought a new stake in ARM during the 4th quarter valued at $2,320,000. Finally, Clarus Wealth Advisors acquired a new position in ARM during the fourth quarter worth $732,000. 7.53% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
ARM has been the subject of several recent research reports. Wells Fargo & Company boosted their target price on shares of ARM from $155.00 to $162.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Loop Capital raised their target price on ARM from $130.00 to $180.00 and gave the company a “buy” rating in a report on Monday, November 11th. Sanford C. Bernstein downgraded ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price target for the company. in a report on Thursday, October 31st. JPMorgan Chase & Co. raised their price objective on ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Finally, UBS Group began coverage on shares of ARM in a report on Monday, November 25th. They issued a “buy” rating and a $160.00 target price for the company. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $151.09.
ARM Trading Up 4.0 %
ARM opened at $155.20 on Wednesday. The company has a 50 day moving average of $137.52 and a 200 day moving average of $140.92. Arm Holdings plc has a 12 month low of $69.32 and a 12 month high of $188.75. The company has a market cap of $162.62 billion, a PE ratio of 258.67, a price-to-earnings-growth ratio of 6.97 and a beta of 4.53.
ARM (NASDAQ:ARM – Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.04. The company had revenue of $844.00 million during the quarter, compared to analysts’ expectations of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.36 earnings per share. Research analysts forecast that Arm Holdings plc will post 0.84 earnings per share 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.
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