Wedbush Securities Inc. Boosts Stake in Arm Holdings plc (NASDAQ:ARM)

Wedbush Securities Inc. raised its stake in shares of Arm Holdings plc (NASDAQ:ARM) by 4.6% during the second quarter, Holdings Channel.com reports. The institutional investor owned 3,460 shares of the company’s stock after buying an additional 152 shares during the period. Wedbush Securities Inc.’s holdings in ARM were worth $566,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. RiverPark Advisors LLC lifted its stake in shares of 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 buying an additional 77 shares during the period. BOKF NA raised its holdings in ARM by 33.3% in the 1st quarter. BOKF NA now owns 400 shares of the company’s stock valued at $51,000 after acquiring an additional 100 shares during the last quarter. Comerica Bank lifted its stake in shares of ARM by 6.1% during the 1st quarter. Comerica Bank now owns 1,780 shares of the company’s stock worth $222,000 after purchasing an additional 103 shares during the period. Naples Money Management LLC boosted its holdings in shares of ARM by 47.8% during the first quarter. Naples Money Management LLC now owns 340 shares of the company’s stock worth $42,000 after purchasing an additional 110 shares during the last quarter. Finally, Schwarz Dygos Wheeler Investment Advisors LLC grew its position in shares of ARM by 2.9% in the first quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 5,159 shares of the company’s stock valued at $645,000 after purchasing an additional 145 shares during the period. Hedge funds and other institutional investors own 7.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ARM shares. Loop Capital increased their target price on ARM from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Daiwa America upgraded shares of ARM from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 8th. The Goldman Sachs Group increased their price target on shares of ARM from $110.00 to $143.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. Rosenblatt Securities reissued a “buy” rating and set a $180.00 price objective on shares of ARM in a research note on Thursday, August 1st. Finally, Barclays boosted their target price on ARM from $105.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $121.56.

ARM Stock Down 0.8 %

ARM stock opened at $139.18 on Friday. The company has a market capitalization of $145.84 billion and a PE ratio of 124.78. The stock’s 50 day moving average is $140.53 and its two-hundred day moving average is $132.85. Arm Holdings plc has a 52-week low of $46.50 and a 52-week high of $188.75.

ARM (NASDAQ:ARM) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05. The firm had revenue of $939.00 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the company posted $0.24 earnings per share. As a group, sell-side analysts anticipate that Arm Holdings plc will post 0.82 EPS for the current 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.