West Tower Group LLC Makes New $215,000 Investment in Arm Holdings plc (NASDAQ:ARM)

West Tower Group LLC acquired a new position in shares of Arm Holdings plc (NASDAQ:ARM) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,500 shares of the company’s stock, valued at approximately $215,000.

Other hedge funds also recently added to or reduced their stakes in the company. ORG Partners LLC acquired a new position in ARM during the 3rd quarter worth $29,000. Transcendent Capital Group LLC bought a new position in shares of ARM in the 2nd quarter worth about $33,000. Gilliland Jeter Wealth Management LLC lifted its position in shares of ARM by 83.0% in the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after buying an additional 117 shares during the last quarter. RiverPark Advisors LLC lifted its position in shares of ARM by 45.3% in the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after buying an additional 77 shares during the last quarter. Finally, Mather Group LLC. bought a new position in shares of ARM in the 2nd quarter worth about $41,000. 7.53% of the stock is owned by institutional investors and hedge funds.

ARM Stock Performance

Shares of ARM opened at $139.68 on Tuesday. The company’s 50 day moving average price is $143.32 and its 200 day moving average price is $141.12. Arm Holdings plc has a 52 week low of $60.37 and a 52 week high of $188.75. The company has a market capitalization of $146.36 billion, a PE ratio of 232.80, a PEG ratio of 6.79 and a beta of 5.40.

ARM (NASDAQ:ARM) last announced its quarterly earnings data 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 net margin of 18.13% and a return on equity of 13.69%. The firm had revenue of $844.00 million for the quarter, compared to the consensus estimate of $810.03 million. During the same period in the previous year, the firm posted $0.36 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. On average, equities analysts forecast that Arm Holdings plc will post 0.79 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ARM. UBS Group began coverage on shares of ARM in a research report on Monday. They issued a “buy” rating and a $160.00 price target on the stock. Barclays raised their price target on shares of ARM from $125.00 to $145.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Needham & Company LLC reiterated a “hold” rating on shares of ARM in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft lifted their price objective 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. Finally, Raymond James started coverage on shares of ARM in a research report on Friday, September 13th. They issued an “outperform” rating and a $160.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $150.32.

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.