B. Riley Wealth Advisors Inc. Purchases New Position in Arm Holdings plc (NASDAQ:ARM)

B. Riley Wealth Advisors Inc. purchased a new stake in Arm Holdings plc (NASDAQ:ARM) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 5,158 shares of the company’s stock, valued at approximately $388,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ARM. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in ARM by 49.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,555 shares of the company’s stock valued at $117,000 after buying an additional 514 shares during the last quarter. Ancora Advisors LLC purchased a new stake in ARM in the third quarter valued at approximately $32,000. Northwest Financial Advisors purchased a new stake in ARM in the fourth quarter valued at approximately $46,000. DSM Capital Partners LLC purchased a new stake in ARM in the fourth quarter valued at approximately $50,000. Finally, Bamco Inc. NY purchased a new stake in ARM in the third quarter valued at approximately $37,000. 7.53% of the stock is owned by institutional investors and hedge funds.

ARM Stock Down 5.8 %

ARM opened at 151.07 on Tuesday. Arm Holdings plc has a 52 week low of 46.50 and a 52 week high of 177.31. The business’s fifty day simple moving average is 121.63 and its 200 day simple moving average is 108.84.

ARM (NASDAQ:ARM) last posted its quarterly earnings data on Wednesday, May 8th. The company reported 0.36 EPS for the quarter, beating analysts’ consensus estimates of 0.30 by 0.06. The business had revenue of 928.00 million for the quarter, compared to analyst estimates of 865.94 million. ARM had a return on equity of 16.94% and a net margin of 9.46%. The business’s revenue for the quarter was up 46.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.02 earnings per share. On average, equities analysts expect that Arm Holdings plc will post 0.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Needham & Company LLC reiterated a “hold” rating on shares of ARM in a research note on Thursday, May 9th. Rosenblatt Securities restated a “buy” rating and set a $180.00 price target on shares of ARM in a research note on Monday, May 6th. KeyCorp upped their price target on ARM from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Susquehanna restated a “neutral” rating and set a $85.00 price target on shares of ARM in a research note on Thursday, April 4th. Finally, Bank of America upped their price target on ARM from $150.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of 99.48.

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.