3,680 Shares in Arm Holdings plc (NASDAQ:ARM) Acquired by Prosperity Wealth Management Inc.

Prosperity Wealth Management Inc. purchased a new stake in Arm Holdings plc (NASDAQ:ARM) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 3,680 shares of the company’s stock, valued at approximately $277,000.

Other hedge funds have also recently bought and sold shares of the company. Hsbc Holdings PLC bought a new stake in ARM during the 3rd quarter worth approximately $219,000. Robeco Schweiz AG bought a new stake in shares of ARM during the third quarter worth $35,591,000. American Century Companies Inc. acquired a new stake in shares of ARM in the third quarter valued at $54,800,000. Citigroup Inc. bought a new position in shares of ARM in the third quarter valued at about $344,000. Finally, UG Investment Advisers Ltd. bought a new position in shares of ARM in the third quarter valued at about $3,568,000. 7.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. TD Cowen lifted their target price on ARM from $80.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, February 8th. Susquehanna reiterated a “neutral” rating and issued a $85.00 price objective on shares of ARM in a research report on Thursday, April 4th. JPMorgan Chase & Co. upped their target price on shares of ARM from $70.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. New Street Research reaffirmed a “neutral” rating and issued a $110.00 target price on shares of ARM in a research note on Tuesday, February 27th. Finally, Barclays boosted their price target on shares of ARM from $65.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, ARM currently has an average rating of “Moderate Buy” and a consensus price target of 89.88.

ARM Price Performance

NASDAQ ARM traded down 11.74 during midday trading on Wednesday, hitting 110.48. The company had a trading volume of 11,707,343 shares, compared to its average volume of 14,646,298. The firm has a 50-day moving average price of 128.56 and a 200-day moving average price of 85.83. Arm Holdings plc has a twelve month low of 46.50 and a twelve month high of 164.00.

ARM (NASDAQ:ARM) last issued its earnings results on Wednesday, February 7th. The company reported 0.29 EPS for the quarter, beating the consensus estimate of 0.25 by 0.04. The firm had revenue of 824.00 million during the quarter, compared to analyst estimates of 762.50 million. The business’s revenue was up 13.8% on a year-over-year basis. As a group, equities analysts predict that Arm Holdings plc will post 0.36 earnings per share 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.