Cornerstone Wealth Management LLC Acquires 335 Shares of Arm Holdings plc (NASDAQ:ARM)

Cornerstone Wealth Management LLC raised its stake in shares of Arm Holdings plc (NASDAQ:ARM) by 8.5% during the third quarter, Holdings Channel reports. The firm owned 4,299 shares of the company’s stock after buying an additional 335 shares during the period. Cornerstone Wealth Management LLC’s holdings in ARM were worth $615,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Paragon Capital Management Inc. acquired a new position in ARM during the third quarter worth $1,724,000. Vontobel Holding Ltd. grew its stake in ARM by 42.5% during the third quarter. Vontobel Holding Ltd. now owns 26,102 shares of the company’s stock worth $3,733,000 after buying an additional 7,790 shares during the last quarter. SeaCrest Wealth Management LLC increased its holdings in shares of ARM by 38.8% during the third quarter. SeaCrest Wealth Management LLC now owns 6,735 shares of the company’s stock worth $963,000 after buying an additional 1,883 shares in the last quarter. Tsfg LLC boosted its holdings in shares of ARM by 12.5% in the 3rd quarter. Tsfg LLC now owns 3,377 shares of the company’s stock worth $483,000 after acquiring an additional 375 shares in the last quarter. Finally, Crescent Sterling Ltd. acquired a new stake in ARM during the 3rd quarter valued at $252,000. 7.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ARM has been the subject of a number of research reports. Sanford C. Bernstein upgraded ARM from an “underperform” rating to a “market perform” rating and raised their target price for the company from $92.00 to $100.00 in a research note on Wednesday, August 7th. Evercore ISI upped their target price on shares of ARM from $145.00 to $173.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Raymond James initiated coverage on ARM in a research report on Friday, September 13th. They issued an “outperform” rating and a $160.00 price objective on the stock. Citigroup upped their price target on ARM from $150.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Rosenblatt Securities restated a “buy” rating and set a $180.00 target price on shares of ARM in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, ARM has a consensus rating of “Moderate Buy” and a consensus target price of $134.91.

ARM Stock Performance

ARM stock opened at $153.03 on Friday. Arm Holdings plc has a 52 week low of $46.50 and a 52 week high of $188.75. The stock has a market capitalization of $160.35 billion and a P/E ratio of 392.39. The stock has a 50-day simple moving average of $137.10 and a 200 day simple moving average of $135.06.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The firm 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%. The company’s revenue for the quarter was up 39.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.24 earnings per share. Research analysts forecast that Arm Holdings plc will post 0.86 earnings per share 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.