New Wave Wealth Advisors LLC Boosts Stake in Arm Holdings plc (NASDAQ:ARM)

New Wave Wealth Advisors LLC increased its stake in Arm Holdings plc (NASDAQ:ARM) by 116.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,024 shares of the company’s stock after acquiring an additional 2,701 shares during the period. New Wave Wealth Advisors LLC’s holdings in ARM were worth $620,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ARM. Cibc World Market Inc. raised its stake in ARM by 18.9% in the fourth quarter. Cibc World Market Inc. now owns 219,613 shares of the company’s stock worth $27,091,000 after buying an additional 34,847 shares in the last quarter. Gilbert & Cook Inc. bought a new position in ARM in the fourth quarter worth $295,000. Smith Group Asset Management LLC bought a new stake in shares of ARM during the 4th quarter valued at $2,961,000. R Squared Ltd purchased a new stake in shares of ARM in the 4th quarter worth about $130,000. Finally, Perigon Wealth Management LLC increased its stake in shares of ARM by 35.3% in the 4th quarter. Perigon Wealth Management LLC now owns 9,857 shares of the company’s stock worth $1,216,000 after acquiring an additional 2,570 shares in the last quarter. Hedge funds and other institutional investors own 7.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ARM. Susquehanna upped their price objective on shares of ARM from $118.00 to $140.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. TD Cowen upped their price target on shares of ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Evercore ISI increased their price target on ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. UBS Group started coverage on shares of ARM in a research report on Monday, November 25th. They set a “buy” rating and a $160.00 price target for the company. Finally, Loop Capital raised their price objective on shares of ARM from $130.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, ARM presently has an average rating of “Moderate Buy” and an average target price of $152.09.

ARM Stock Up 3.8 %

ARM stock opened at $153.23 on Friday. The firm has a market cap of $160.56 billion, a price-to-earnings ratio of 255.39, a PEG ratio of 6.90 and a beta of 4.53. Arm Holdings plc has a twelve month low of $69.32 and a twelve month high of $188.75. The business’s fifty day simple moving average is $141.35 and its two-hundred day simple moving average is $140.15.

ARM (NASDAQ:ARM) last posted its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. The company had revenue of $844.00 million during the quarter, compared to analyst estimates of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. ARM’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.36 earnings per share. Research analysts expect that Arm Holdings plc will post 0.84 EPS for the current year.

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.