Accel Wealth Management Takes $382,000 Position in Arm Holdings plc (NASDAQ:ARM)

Accel Wealth Management bought a new stake in Arm Holdings plc (NASDAQ:ARM) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,058 shares of the company’s stock, valued at approximately $382,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. HighTower Advisors LLC purchased a new stake in shares of ARM in the third quarter worth approximately $266,000. PNC Financial Services Group Inc. bought a new position in shares of ARM in the third quarter valued at approximately $55,000. Hsbc Holdings PLC bought a new position in shares of ARM in the third quarter valued at approximately $219,000. Ancora Advisors LLC bought a new position in shares of ARM in the third quarter valued at approximately $32,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of ARM in the third quarter valued at approximately $4,148,000. 7.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ARM has been the topic of a number of recent research reports. Evercore ISI dropped their target price on ARM from $156.00 to $145.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. Rosenblatt Securities restated a “buy” rating and issued a $180.00 target price on shares of ARM in a report on Monday, May 6th. Susquehanna restated a “neutral” rating and issued a $85.00 target price on shares of ARM in a report on Thursday, April 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a research report on Thursday, May 9th. Finally, The Goldman Sachs Group increased their price target on ARM from $110.00 to $143.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of 103.68.

ARM Price Performance

NASDAQ:ARM opened at 168.24 on Friday. The business has a fifty day simple moving average of 131.74 and a two-hundred day simple moving average of 113.65. Arm Holdings plc has a 1 year low of 46.50 and a 1 year high of 177.31.

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