B. Riley Wealth Advisors Inc. Makes New $736,000 Investment in Arm Holdings plc (NASDAQ:ARM)

B. Riley Wealth Advisors Inc. acquired a new stake in Arm Holdings plc (NASDAQ:ARM) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 4,496 shares of the company’s stock, valued at approximately $736,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP grew its holdings in ARM by 56.4% during the 4th quarter. Wellington Management Group LLP now owns 4,468,720 shares of the company’s stock valued at $335,802,000 after purchasing an additional 1,611,926 shares during the last quarter. Robeco Schweiz AG boosted its position in shares of ARM by 220.3% during the fourth quarter. Robeco Schweiz AG now owns 2,130,000 shares of the company’s stock valued at $160,059,000 after buying an additional 1,465,000 shares during the period. Mubadala Investment Co PJSC bought a new position in shares of ARM during the fourth quarter valued at approximately $150,437,000. Sei Investments Co. raised its holdings in shares of ARM by 551.6% in the second quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock worth $94,790,000 after buying an additional 490,415 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of ARM by 5.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 290,947 shares of the company’s stock worth $36,366,000 after acquiring an additional 14,584 shares during the last quarter. Hedge funds and other institutional investors own 7.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Evercore ISI increased their target price on ARM from $145.00 to $173.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Daiwa America upgraded shares of ARM from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 8th. Barclays upped their target price on shares of ARM from $105.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Raymond James started coverage on shares of ARM in a research note on Friday, September 13th. They set an “outperform” rating and a $160.00 price target for the company. Finally, Bank of America increased their price objective on ARM from $150.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, ARM has a consensus rating of “Moderate Buy” and an average target price of $125.96.

ARM Price Performance

ARM stock opened at $140.55 on Friday. Arm Holdings plc has a 1-year low of $46.50 and a 1-year high of $188.75. The business has a fifty day moving average price of $131.37 and a 200-day moving average price of $133.57. The stock has a market capitalization of $147.27 billion and a price-to-earnings ratio of 152.14.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share for the quarter, topping 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 business had revenue of $939.00 million during the quarter, compared to the consensus estimate of $905.53 million. During the same quarter last year, the company earned $0.24 earnings per share. The company’s quarterly revenue was up 39.1% on a year-over-year basis. On average, equities research analysts anticipate that Arm Holdings plc will post 0.86 earnings per share for the current fiscal year.

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.