Watts Gwilliam & Co. LLC Purchases Shares of 7,021 Arm Holdings plc (NASDAQ:ARM)

Watts Gwilliam & Co. LLC acquired a new position in Arm Holdings plc (NASDAQ:ARM) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 7,021 shares of the company’s stock, valued at approximately $1,008,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ARM. Mark Sheptoff Financial Planning LLC bought a new stake in ARM in the first quarter worth approximately $25,000. Transcendent Capital Group LLC bought a new stake in shares of ARM in the 2nd quarter valued at $33,000. SOA Wealth Advisors LLC. bought a new stake in shares of ARM in the 1st quarter valued at $35,000. RiverPark Advisors LLC lifted its position in shares of ARM by 45.3% during 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 during the period. Finally, Mather Group LLC. bought a new position in ARM during the second quarter worth $41,000. 7.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ARM. Evercore ISI lifted their price target on shares of ARM from $145.00 to $173.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Barclays upped their price target on ARM from $105.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. William Blair assumed coverage on ARM in a research note on Wednesday, September 18th. They issued an “outperform” rating for the company. Benchmark assumed coverage on ARM in a research report on Monday, September 16th. They set a “hold” rating on the stock. Finally, Hsbc Global Res raised shares of ARM to a “moderate sell” rating in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $134.91.

ARM Trading Up 0.6 %

ARM stock opened at $149.33 on Friday. The stock has a market cap of $156.47 billion and a P/E ratio of 382.91. The stock’s fifty day simple moving average is $132.22 and its two-hundred day simple moving average is $133.98. Arm Holdings plc has a 1-year low of $46.50 and a 1-year high of $188.75.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. ARM had a net margin of 12.12% and a return on equity of 18.97%. The company had revenue of $939.00 million for the quarter, compared to the consensus estimate of $905.53 million. During the same period in the previous year, the firm earned $0.24 EPS. The firm’s quarterly revenue was up 39.1% on a year-over-year basis. As a group, analysts forecast that Arm Holdings plc will post 0.86 earnings per share for the current fiscal year.

ARM Company 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.