Modera Wealth Management LLC Purchases New Holdings in Arm Holdings plc (NASDAQ:ARM)

Modera Wealth Management LLC purchased a new stake in Arm Holdings plc (NASDAQ:ARM) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,690 shares of the company’s stock, valued at approximately $242,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Willner & Heller LLC boosted its holdings in ARM by 193.7% in the third quarter. Willner & Heller LLC now owns 6,799 shares of the company’s stock valued at $972,000 after purchasing an additional 4,484 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in ARM by 393.0% in the first quarter. Lazard Asset Management LLC now owns 25,236 shares of the company’s stock valued at $3,154,000 after purchasing an additional 20,117 shares during the last quarter. Mizuho Securities Co. Ltd. boosted its holdings in ARM by 156.3% in the second quarter. Mizuho Securities Co. Ltd. now owns 18,400 shares of the company’s stock valued at $3,011,000 after purchasing an additional 11,220 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in ARM by 42.5% in the third quarter. Vontobel Holding Ltd. now owns 26,102 shares of the company’s stock valued at $3,733,000 after purchasing an additional 7,790 shares during the last quarter. Finally, Itau Unibanco Holding S.A. purchased a new position in ARM in the second quarter valued at about $4,090,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

ARM Trading Up 4.8 %

NASDAQ:ARM opened at $157.17 on Wednesday. Arm Holdings plc has a twelve month low of $47.12 and a twelve month high of $188.75. The company has a 50-day moving average of $140.09 and a 200-day moving average of $136.29. The firm has a market cap of $164.69 billion and a price-to-earnings ratio of 403.01.

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

Analyst Ratings Changes

A number of research analysts have commented on ARM shares. HSBC downgraded ARM from a “hold” rating to a “reduce” rating in a report on Monday, July 29th. Sanford C. Bernstein raised ARM from an “underperform” rating to a “market perform” rating and increased their target price for the stock from $92.00 to $100.00 in a report on Wednesday, August 7th. William Blair started coverage on ARM in a report on Wednesday, September 18th. They set an “outperform” rating on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft increased their target price on ARM from $82.00 to $105.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $138.57.

About ARM

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.