StoneCrest Wealth Management Inc. Has $661,000 Holdings in Arm Holdings plc (NASDAQ:ARM)

StoneCrest Wealth Management Inc. decreased its position in shares of Arm Holdings plc (NASDAQ:ARM) by 3.0% in the third quarter, Holdings Channel reports. The fund owned 4,625 shares of the company’s stock after selling 142 shares during the period. StoneCrest Wealth Management Inc.’s holdings in ARM were worth $661,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sovereign Financial Group Inc. increased its stake in shares of ARM by 19.1% in the third quarter. Sovereign Financial Group Inc. now owns 4,752 shares of the company’s stock worth $680,000 after purchasing an additional 763 shares during the period. Brookstone Capital Management boosted its stake in ARM by 12.4% during the 3rd quarter. Brookstone Capital Management now owns 1,411 shares of the company’s stock valued at $202,000 after purchasing an additional 156 shares during the period. Alpha Cubed Investments LLC grew its holdings in ARM by 5.0% in the 3rd quarter. Alpha Cubed Investments LLC now owns 2,628 shares of the company’s stock valued at $376,000 after buying an additional 124 shares during the last quarter. Parisi Gray Wealth Management increased its position in ARM by 419.5% in the 3rd quarter. Parisi Gray Wealth Management now owns 6,540 shares of the company’s stock worth $935,000 after buying an additional 5,281 shares during the period. Finally, IAM Advisory LLC acquired a new position in shares of ARM during the third quarter worth approximately $671,000. Institutional investors and hedge funds own 7.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ARM shares. Rosenblatt Securities restated a “buy” rating and issued a $180.00 price objective on shares of ARM in a research note on Thursday, August 1st. Needham & Company LLC restated a “hold” rating on shares of ARM in a report on Thursday, August 1st. The Goldman Sachs Group upped their price objective on shares of ARM from $110.00 to $143.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Daiwa America raised ARM from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, Evercore ISI upped their price target on ARM from $145.00 to $173.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $125.96.

ARM Stock Up 1.6 %

Shares of ARM stock opened at $143.60 on Wednesday. The company has a market capitalization of $150.47 billion and a P/E ratio of 147.06. Arm Holdings plc has a 12-month low of $46.50 and a 12-month high of $188.75. The firm has a 50-day moving average price of $131.58 and a 200 day moving average price of $133.77.

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

About ARM

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.