Edge Capital Group LLC Acquires New Position in Arm Holdings plc (NASDAQ:ARM)

Edge Capital Group LLC acquired a new stake in shares of Arm Holdings plc (NASDAQ:ARM) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,388 shares of the company’s stock, valued at approximately $882,000.

A number of other large investors also recently modified their holdings of the company. RiverPark Advisors LLC raised its holdings in shares of ARM by 45.3% during the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after buying an additional 77 shares in the last quarter. BOKF NA increased its stake in ARM by 33.3% in the 1st quarter. BOKF NA now owns 400 shares of the company’s stock worth $51,000 after purchasing an additional 100 shares during the period. Comerica Bank increased its stake in ARM by 6.1% in the 1st quarter. Comerica Bank now owns 1,780 shares of the company’s stock worth $222,000 after purchasing an additional 103 shares during the period. Naples Money Management LLC increased its stake in ARM by 47.8% in the 1st quarter. Naples Money Management LLC now owns 340 shares of the company’s stock worth $42,000 after purchasing an additional 110 shares during the period. Finally, Schwarz Dygos Wheeler Investment Advisors LLC increased its stake in ARM by 2.9% in the 1st quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 5,159 shares of the company’s stock worth $645,000 after purchasing an additional 145 shares during the period. 7.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Barclays lifted their price target on ARM from $105.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Raymond James assumed coverage on ARM in a research note on Friday, September 13th. They issued an “outperform” rating and a $160.00 price target on the stock. Evercore ISI lifted their price target on ARM from $145.00 to $173.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a research note on Thursday, August 1st. Finally, Rosenblatt Securities reissued a “buy” rating and set a $180.00 target price on shares of ARM in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have given a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $125.96.

ARM Trading Down 1.2 %

ARM stock opened at $138.90 on Monday. The company has a market capitalization of $145.54 billion and a price-to-earnings ratio of 145.57. Arm Holdings plc has a 12 month low of $46.50 and a 12 month high of $188.75. The business’s fifty day simple moving average is $135.56 and its two-hundred day simple moving average is $132.82.

ARM (NASDAQ:ARM) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. The firm had revenue of $939.00 million for the quarter, compared to the consensus estimate of $905.53 million. ARM had a return on equity of 18.97% and a net margin of 12.12%. The company’s quarterly revenue was up 39.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.24 earnings per share. On average, equities research analysts predict that Arm Holdings plc will post 0.82 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.