AdvisorNet Financial Inc Purchases Shares of 936 Arm Holdings plc (NASDAQ:ARM)

AdvisorNet Financial Inc purchased a new stake in Arm Holdings plc (NASDAQ:ARM) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 936 shares of the company’s stock, valued at approximately $153,000.

Other institutional investors also recently modified their holdings of the company. Mark Sheptoff Financial Planning LLC acquired a new stake in ARM in the first quarter valued at approximately $25,000. Mather Group LLC. purchased a new position in ARM during the second quarter worth about $41,000. SOA Wealth Advisors LLC. purchased a new position in ARM in the first quarter valued at about $35,000. Naples Money Management LLC boosted its stake in ARM by 47.8% in the first quarter. Naples Money Management LLC now owns 340 shares of the company’s stock valued at $42,000 after acquiring an additional 110 shares during the last quarter. Finally, Crewe Advisors LLC bought a new stake in shares of ARM in the first quarter valued at approximately $50,000. 7.53% of the stock is currently owned by institutional investors and hedge funds.

ARM Trading Up 3.5 %

ARM stock traded up $4.46 during midday trading on Thursday, hitting $130.38. The stock had a trading volume of 7,194,152 shares, compared to its average volume of 12,741,925. The business has a fifty day moving average price of $152.62 and a 200 day moving average price of $129.45. Arm Holdings plc has a 12 month low of $46.50 and a 12 month high of $188.75. The stock has a market cap of $136.62 billion and a P/E ratio of 124.47.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.05. The business had revenue of $939.00 million during 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 business’s revenue was up 39.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.24 earnings per share. On average, equities analysts anticipate that Arm Holdings plc will post 0.82 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Hsbc Global Res raised shares of ARM to a “moderate sell” rating in a report on Monday, July 29th. Wells Fargo & Company increased their price target on shares of ARM from $100.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. The Goldman Sachs Group raised their price target on shares of ARM from $110.00 to $143.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. Sanford C. Bernstein raised shares of ARM from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $92.00 to $100.00 in a report on Wednesday, August 7th. Finally, Evercore ISI lifted their price target on shares of ARM from $145.00 to $173.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $121.56.

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.