WealthPLAN Partners LLC Has $525,000 Position in Arm Holdings plc (NASDAQ:ARM)

WealthPLAN Partners LLC boosted its holdings in Arm Holdings plc (NASDAQ:ARM) by 63.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,210 shares of the company’s stock after acquiring an additional 1,247 shares during the period. WealthPLAN Partners LLC’s holdings in ARM were worth $525,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in ARM. Private Advisor Group LLC acquired a new stake in ARM during the fourth quarter worth approximately $226,000. Principal Securities Inc. acquired a new stake in ARM during the 4th quarter worth approximately $116,000. Janney Montgomery Scott LLC boosted its stake in ARM by 179.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 35,468 shares of the company’s stock valued at $2,665,000 after purchasing an additional 22,763 shares during the period. Beacon Pointe Advisors LLC acquired a new position in ARM in the 4th quarter valued at $205,000. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in ARM by 42.0% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 22,210 shares of the company’s stock valued at $1,669,000 after buying an additional 6,571 shares in the last quarter. Institutional investors and hedge funds own 7.53% of the company’s stock.

Wall Street Analysts Forecast Growth

ARM has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of ARM from $82.00 to $105.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a report on Thursday, August 1st. Barclays boosted their price target on ARM from $105.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Rosenblatt Securities restated a “buy” rating and set a $180.00 price objective on shares of ARM in a research note on Thursday, August 1st. Finally, Hsbc Global Res upgraded ARM to a “moderate sell” rating in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $123.04.

ARM Stock Down 1.1 %

Shares of ARM stock opened at $136.84 on Wednesday. The firm has a market capitalization of $143.39 billion and a P/E ratio of 148.06. Arm Holdings plc has a twelve month low of $46.50 and a twelve month high of $188.75. The stock’s fifty day simple moving average is $138.02 and its 200 day simple moving average is $132.76.

ARM (NASDAQ:ARM) last released 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. ARM had a return on equity of 18.97% and a net margin of 12.12%. The company had revenue of $939.00 million during the quarter, compared to the consensus estimate of $905.53 million. During the same quarter in the prior year, the firm posted $0.24 earnings per share. The firm’s revenue was up 39.1% compared to the same quarter last year. As a group, equities research analysts expect that Arm Holdings plc will post 0.82 EPS for the current fiscal 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.