Arm Holdings plc (NASDAQ:ARM) Shares Purchased by New Wave Wealth Advisors LLC

New Wave Wealth Advisors LLC boosted its position in shares of Arm Holdings plc (NASDAQ:ARM) by 116.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 5,024 shares of the company’s stock after acquiring an additional 2,701 shares during the quarter. New Wave Wealth Advisors LLC’s holdings in ARM were worth $620,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Franklin Resources Inc. lifted its stake in ARM by 21.7% during the 3rd quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock valued at $183,265,000 after acquiring an additional 228,467 shares during the period. International Assets Investment Management LLC grew its holdings in ARM by 14,351.1% during the third quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock worth $1,161,670,000 after acquiring an additional 806,676 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in ARM by 186.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock valued at $52,279,000 after acquiring an additional 233,909 shares during the period. State Street Corp grew its stake in shares of ARM by 19.2% during the 3rd quarter. State Street Corp now owns 221,854 shares of the company’s stock worth $31,727,000 after purchasing an additional 35,720 shares during the period. Finally, Cibc World Market Inc. increased its holdings in shares of ARM by 18.9% during the 4th quarter. Cibc World Market Inc. now owns 219,613 shares of the company’s stock valued at $27,091,000 after purchasing an additional 34,847 shares in the last quarter. 7.53% of the stock is owned by institutional investors and hedge funds.

ARM Trading Up 3.8 %

Shares of ARM stock opened at $153.23 on Friday. The stock has a 50 day simple moving average of $141.35 and a 200-day simple moving average of $140.15. The company has a market cap of $160.56 billion, a price-to-earnings ratio of 255.39, a price-to-earnings-growth ratio of 6.90 and a beta of 4.53. Arm Holdings plc has a 12-month low of $69.32 and a 12-month high of $188.75.

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Evercore ISI lifted their price objective on shares of ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. upped their price target on ARM from $140.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. TD Cowen boosted their price objective on ARM from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Wells Fargo & Company increased their target price on ARM from $155.00 to $162.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Finally, Sanford C. Bernstein lowered shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price target for the company. in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, ARM has an average rating of “Moderate Buy” and an average target price of $152.09.

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.