Edge Capital Group LLC Acquires New Stake in Arm Holdings plc (NASDAQ:ARM)

Edge Capital Group LLC acquired a new stake in shares of Arm Holdings plc (NASDAQ:ARM) in the second quarter, HoldingsChannel.com reports. The firm acquired 5,388 shares of the company’s stock, valued at approximately $882,000.

A number of other hedge funds also recently bought and sold shares of the company. RiverPark Advisors LLC increased its position in ARM by 45.3% during the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after acquiring an additional 77 shares during the last quarter. BOKF NA increased its position in ARM by 33.3% during the first quarter. BOKF NA now owns 400 shares of the company’s stock valued at $51,000 after acquiring an additional 100 shares during the last quarter. Comerica Bank increased its position in ARM by 6.1% during the first quarter. Comerica Bank now owns 1,780 shares of the company’s stock valued at $222,000 after acquiring an additional 103 shares during the last quarter. Naples Money Management LLC increased its position in ARM by 47.8% during the first quarter. Naples Money Management LLC now owns 340 shares of the company’s stock valued at $42,000 after acquiring an additional 110 shares during the last quarter. Finally, Schwarz Dygos Wheeler Investment Advisors LLC increased its position in ARM by 2.9% during the first quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 5,159 shares of the company’s stock valued at $645,000 after acquiring an additional 145 shares during the last quarter. Hedge funds and other institutional investors own 7.53% of the company’s stock.

ARM Trading Down 1.2 %

Shares of NASDAQ ARM opened at $138.90 on Monday. Arm Holdings plc has a 12-month low of $46.50 and a 12-month high of $188.75. The firm’s 50-day moving average price is $135.56 and its 200-day moving average price is $132.82. The stock has a market capitalization of $145.54 billion and a price-to-earnings ratio of 145.57.

ARM (NASDAQ:ARM) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05. The business 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 last year, the company earned $0.24 EPS. On average, equities analysts predict that Arm Holdings plc will post 0.82 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ARM shares. Deutsche Bank Aktiengesellschaft upped their price target on ARM from $82.00 to $105.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Loop Capital upped their price target on ARM from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Evercore ISI upped their price target on ARM from $145.00 to $173.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. TD Cowen upgraded ARM to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Raymond James started coverage on ARM in a research report on Friday, September 13th. They issued an “outperform” rating and a $160.00 price target for the company. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, seventeen have assigned 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 $125.96.

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.