Westwood Wealth Management Invests $3.87 Million in Arm Holdings plc (NASDAQ:ARM)

Westwood Wealth Management acquired a new stake in Arm Holdings plc (NASDAQ:ARM) during the second quarter, according to its most recent filing with the SEC. The firm acquired 23,675 shares of the company’s stock, valued at approximately $3,874,000. ARM comprises about 1.4% of Westwood Wealth Management’s holdings, making the stock its 14th largest position.

Other institutional investors also recently bought and sold shares of the company. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of ARM in the first quarter valued at approximately $25,000. Transcendent Capital Group LLC acquired a new position in shares of ARM during the 2nd quarter worth $33,000. SOA Wealth Advisors LLC. purchased a new position in shares of ARM in the 1st quarter valued at about $35,000. RiverPark Advisors LLC boosted its holdings in ARM by 45.3% during the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after buying an additional 77 shares in the last quarter. Finally, Mather Group LLC. acquired a new position in ARM during the second quarter worth about $41,000. 7.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ARM. Guggenheim boosted their price target on ARM from $110.00 to $169.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Raymond James started coverage on ARM in a research note on Friday, September 13th. They set an “outperform” rating and a $160.00 price target for the company. Hsbc Global Res raised shares of ARM to a “moderate sell” rating in a research note on Monday, July 29th. Needham & Company LLC restated a “hold” rating on shares of ARM in a research report on Thursday, August 1st. Finally, Citigroup raised their price objective on shares of ARM from $150.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $125.96.

ARM Price Performance

NASDAQ ARM opened at $141.72 on Tuesday. Arm Holdings plc has a 1-year low of $46.50 and a 1-year high of $188.75. The firm has a market capitalization of $148.50 billion and a P/E ratio of 145.57. The business’s 50-day simple moving average is $134.84 and its 200-day simple moving average is $132.83.

ARM (NASDAQ:ARM) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. ARM had a net margin of 12.12% and a return on equity of 18.97%. The firm had revenue of $939.00 million for the quarter, compared to analysts’ expectations of $905.53 million. During the same period in the previous year, the company posted $0.24 earnings per share. ARM’s revenue was up 39.1% compared to the same quarter last year. On average, 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.