WealthTrust Asset Management LLC Purchases Shares of 6,622 Arm Holdings plc (NASDAQ:ARM)

WealthTrust Asset Management LLC acquired a new position in shares of Arm Holdings plc (NASDAQ:ARM) during the 2nd quarter, Holdings Channel reports. The firm acquired 6,622 shares of the company’s stock, valued at approximately $1,083,000. ARM accounts for about 0.8% of WealthTrust Asset Management LLC’s investment portfolio, making the stock its 28th biggest position.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Private Advisor Group LLC bought a new stake in ARM in the 4th quarter valued at $226,000. Janney Montgomery Scott LLC raised its position in shares of ARM by 179.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 35,468 shares of the company’s stock valued at $2,665,000 after purchasing an additional 22,763 shares during the period. Beacon Pointe Advisors LLC acquired a new stake in shares of ARM during the 4th quarter worth about $205,000. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of ARM by 42.0% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 22,210 shares of the company’s stock worth $1,669,000 after buying an additional 6,571 shares during the period. Finally, DSM Capital Partners LLC acquired a new position in ARM in the 4th quarter valued at about $50,000. 7.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Rosenblatt Securities reiterated a “buy” rating and set a $180.00 target price on shares of ARM in a research note on Thursday, August 1st. Evercore ISI increased their price objective on ARM from $145.00 to $173.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. William Blair assumed coverage on shares of ARM in a research report on Wednesday. They issued an “outperform” rating for the company. Sanford C. Bernstein raised shares of ARM from an “underperform” rating to a “market perform” rating and raised their price target for the stock from $92.00 to $100.00 in a research report on Wednesday, August 7th. Finally, Benchmark began coverage on shares of ARM in a report on Monday. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $125.96.

ARM Price Performance

Shares of NASDAQ ARM opened at $140.59 on Friday. Arm Holdings plc has a 1 year low of $46.50 and a 1 year high of $188.75. The stock has a market capitalization of $147.32 billion and a P/E ratio of 148.06. The company has a 50-day moving average price of $136.41 and a 200-day moving average price of $132.85.

ARM (NASDAQ:ARM) last issued 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 analyst estimates of $905.53 million. ARM had a return on equity of 18.97% and a net margin of 12.12%. The company’s revenue for the quarter was up 39.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.24 EPS. As a group, equities research analysts anticipate that Arm Holdings plc will post 0.82 earnings per share for the current fiscal 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.