B. Riley Wealth Advisors Inc. Buys New Shares in Arm Holdings plc (NASDAQ:ARM)

B. Riley Wealth Advisors Inc. bought a new position in Arm Holdings plc (NASDAQ:ARM) in the second quarter, Holdings Channel.com reports. The firm bought 4,496 shares of the company’s stock, valued at approximately $736,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC raised its stake in shares of ARM by 35.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,405 shares of the company’s stock worth $256,000 after purchasing an additional 890 shares during the last quarter. Allianz Asset Management GmbH raised its position in ARM by 86.6% during the 4th quarter. Allianz Asset Management GmbH now owns 18,659 shares of the company’s stock worth $1,402,000 after buying an additional 8,659 shares during the last quarter. KBC Group NV acquired a new stake in ARM during the 4th quarter valued at approximately $294,000. CIBC Private Wealth Group LLC purchased a new stake in shares of ARM in the 4th quarter valued at $1,273,000. Finally, Oppenheimer & Co. Inc. increased its stake in shares of ARM by 216.5% in the fourth quarter. Oppenheimer & Co. Inc. now owns 15,338 shares of the company’s stock worth $1,153,000 after acquiring an additional 10,492 shares during the period. Institutional investors and hedge funds own 7.53% of the company’s stock.

ARM Price Performance

Shares of ARM stock opened at $140.55 on Friday. Arm Holdings plc has a 12 month low of $46.50 and a 12 month high of $188.75. The company has a market capitalization of $147.27 billion and a PE ratio of 152.14. The firm’s 50-day moving average is $131.37 and its two-hundred day moving average is $133.57.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. ARM had a return on equity of 18.97% and a net margin of 12.12%. The firm had revenue of $939.00 million during the quarter, compared to the consensus estimate of $905.53 million. During the same period last year, the company earned $0.24 EPS. The company’s quarterly revenue was up 39.1% on a year-over-year basis. Sell-side analysts forecast that Arm Holdings plc will post 0.86 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ARM. Bank of America boosted their target price on shares of ARM from $150.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, June 17th. Barclays upped their target price on ARM from $105.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. TD Cowen upgraded ARM to a “strong-buy” rating in a research report on Monday, September 16th. HSBC lowered ARM from a “hold” rating to a “reduce” rating in a research report on Monday, July 29th. Finally, Loop Capital boosted their target price on shares of ARM from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, ARM has an average rating of “Moderate Buy” and a consensus target price of $125.96.

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.