Arm Holdings plc (NASDAQ:ARM) Shares Bought by Ritholtz Wealth Management

Ritholtz Wealth Management grew its holdings in shares of Arm Holdings plc (NASDAQ:ARM) by 23.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,764 shares of the company’s stock after purchasing an additional 520 shares during the period. Ritholtz Wealth Management’s holdings in ARM were worth $395,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ARM. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of ARM during the first quarter worth $25,000. Transcendent Capital Group LLC purchased a new position in ARM in the 2nd quarter worth about $33,000. RiverPark Advisors LLC raised its holdings in ARM by 45.3% during the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after buying an additional 77 shares during the period. Mather Group LLC. acquired a new position in shares of ARM in the second quarter worth about $41,000. Finally, SOA Wealth Advisors LLC. purchased a new position in shares of ARM in the first quarter worth approximately $35,000. Institutional investors and hedge funds own 7.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Sanford C. Bernstein raised shares of ARM from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $92.00 to $100.00 in a research note on Wednesday, August 7th. Citigroup raised their price objective on ARM from $150.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Raymond James assumed coverage on shares of ARM in a report on Friday, September 13th. They set an “outperform” rating and a $160.00 price target on the stock. Evercore ISI increased their price objective on ARM from $145.00 to $173.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Finally, Daiwa America upgraded shares of ARM from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.91.

ARM Stock Up 1.2 %

Shares of NASDAQ:ARM opened at $152.50 on Thursday. Arm Holdings plc has a twelve month low of $46.50 and a twelve month high of $188.75. The company has a market cap of $159.79 billion and a price-to-earnings ratio of 391.04. The business has a 50 day moving average price of $135.66 and a 200 day moving average price of $134.74.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.05. The business had revenue of $939.00 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the company posted $0.24 earnings per share. Analysts anticipate that Arm Holdings plc will post 0.86 EPS 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.