Wealth Effects LLC Boosts Stake in Arm Holdings plc (NASDAQ:ARM)

Wealth Effects LLC increased its holdings in shares of Arm Holdings plc (NASDAQ:ARM) by 13.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,200 shares of the company’s stock after acquiring an additional 500 shares during the period. Wealth Effects LLC’s holdings in ARM were worth $687,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. RiverPark Advisors LLC lifted its position in ARM by 45.3% in the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after acquiring an additional 77 shares in the last quarter. BOKF NA increased its holdings in ARM by 33.3% in the 1st quarter. BOKF NA now owns 400 shares of the company’s stock worth $51,000 after buying an additional 100 shares in the last quarter. Comerica Bank increased its stake in shares of ARM by 6.1% in the 1st quarter. Comerica Bank now owns 1,780 shares of the company’s stock worth $222,000 after purchasing an additional 103 shares in the last quarter. Naples Money Management LLC increased its position in ARM by 47.8% in the first quarter. Naples Money Management LLC now owns 340 shares of the company’s stock worth $42,000 after buying an additional 110 shares in the last quarter. Finally, Schwarz Dygos Wheeler Investment Advisors LLC raised its stake in ARM by 2.9% during the 1st quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 5,159 shares of the company’s stock worth $645,000 after acquiring an additional 145 shares during the period. 7.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on ARM shares. Daiwa Capital Markets upgraded ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price target for the company in a research note on Thursday, August 8th. Barclays raised their target price on shares of ARM from $105.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Sanford C. Bernstein upgraded shares of ARM from an “underperform” rating to a “market perform” rating and boosted their price target for the stock from $92.00 to $100.00 in a research note on Wednesday, August 7th. Evercore ISI raised their price objective on ARM from $145.00 to $173.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Finally, The Goldman Sachs Group boosted their target price on ARM from $110.00 to $143.00 and gave the stock a “buy” rating in a research report on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.56.

ARM Trading Down 2.4 %

Shares of NASDAQ:ARM traded down $3.03 on Wednesday, reaching $120.71. The company had a trading volume of 1,231,023 shares, compared to its average volume of 12,220,831. The firm has a market capitalization of $126.48 billion and a PE ratio of 140.35. Arm Holdings plc has a 52-week low of $46.50 and a 52-week high of $188.75. The firm’s 50 day simple moving average is $145.74 and its 200-day simple moving average is $132.90.

ARM (NASDAQ:ARM) last announced its earnings results 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 firm had revenue of $939.00 million for the quarter, compared to the consensus estimate of $905.53 million. ARM had a return on equity of 18.97% and a net margin of 12.12%. The firm’s revenue for the quarter was up 39.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.24 EPS. As a group, equities research analysts predict that Arm Holdings plc will post 0.82 earnings per share 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.