AdvisorNet Financial Inc Purchases 167 Shares of Arm Holdings plc (NASDAQ:ARM)

AdvisorNet Financial Inc increased its position in shares of Arm Holdings plc (NASDAQ:ARM) by 6.9% during the fourth quarter, HoldingsChannel reports. The fund owned 2,578 shares of the company’s stock after buying an additional 167 shares during the quarter. AdvisorNet Financial Inc’s holdings in ARM were worth $318,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. ORG Partners LLC acquired a new stake in shares of ARM during the third quarter valued at about $29,000. Gilliland Jeter Wealth Management LLC boosted its position in ARM by 83.0% during the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after buying an additional 117 shares during the period. Quantbot Technologies LP acquired a new stake in ARM during the 3rd quarter worth approximately $52,000. Farther Finance Advisors LLC grew its holdings in ARM by 45.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock worth $60,000 after acquiring an additional 131 shares during the last quarter. Finally, First Community Trust NA acquired a new position in ARM in the 3rd quarter valued at approximately $70,000. Institutional investors and hedge funds own 7.53% of the company’s stock.

Wall Street Analysts Forecast Growth

ARM has been the topic of several analyst reports. Susquehanna boosted their price objective on shares of ARM from $115.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. upped their price target on ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Wells Fargo & Company raised their price objective on ARM from $155.00 to $162.00 and gave the stock an “overweight” rating in a research report on Monday. TD Cowen upped their target price on ARM from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group raised their price target on shares of ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $150.64.

ARM Stock Up 0.1 %

Shares of ARM opened at $147.52 on Friday. The business’s fifty day moving average is $137.40 and its 200 day moving average is $141.42. Arm Holdings plc has a 12-month low of $66.66 and a 12-month high of $188.75. The stock has a market cap of $154.58 billion, a P/E ratio of 245.87, a P/E/G ratio of 6.57 and a beta of 4.53.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. The firm had revenue of $844.00 million for 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%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the firm earned $0.36 earnings per share. On average, analysts expect that Arm Holdings plc will post 0.84 EPS for the current year.

ARM Profile

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.