West Tower Group LLC Takes $215,000 Position in Arm Holdings plc (NASDAQ:ARM)

West Tower Group LLC purchased a new position in shares of Arm Holdings plc (NASDAQ:ARM) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,500 shares of the company’s stock, valued at approximately $215,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. RiverPark Advisors LLC increased its stake in shares of ARM by 45.3% during the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after acquiring an additional 77 shares during the period. Hexagon Capital Partners LLC increased its stake in shares of ARM by 14.0% during the third quarter. Hexagon Capital Partners LLC now owns 627 shares of the company’s stock worth $90,000 after acquiring an additional 77 shares during the period. BOKF NA grew its position in ARM by 33.3% during the first quarter. BOKF NA now owns 400 shares of the company’s stock worth $51,000 after buying an additional 100 shares during the period. Louisiana State Employees Retirement System grew its position in ARM by 1.1% during the third quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the company’s stock worth $1,359,000 after buying an additional 100 shares during the period. Finally, Great Valley Advisor Group Inc. grew its position in ARM by 5.5% during the third quarter. Great Valley Advisor Group Inc. now owns 1,963 shares of the company’s stock worth $281,000 after buying an additional 102 shares during the period. 7.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Hsbc Global Res upgraded shares of ARM to a “moderate sell” rating in a research report on Monday, July 29th. Barclays upped their target price on shares of ARM from $125.00 to $145.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Evercore ISI upped their target price on shares of ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Needham & Company LLC restated a “hold” rating on shares of ARM in a research report on Thursday, November 7th. Finally, Daiwa America upgraded shares of ARM from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $150.32.

ARM Trading Up 2.7 %

Shares of ARM stock opened at $139.68 on Tuesday. The company’s fifty day simple moving average is $143.32 and its 200-day simple moving average is $141.12. Arm Holdings plc has a 52 week low of $60.37 and a 52 week high of $188.75. The company has a market cap of $146.36 billion, a PE ratio of 232.80, a P/E/G ratio of 6.79 and a beta of 5.40.

ARM (NASDAQ:ARM) last issued its earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. ARM had a net margin of 18.13% and a return on equity of 13.69%. The business had revenue of $844.00 million for the quarter, compared to the consensus estimate of $810.03 million. During the same quarter last year, the firm posted $0.36 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities research analysts expect that Arm Holdings plc will post 0.79 EPS for the current fiscal year.

ARM Company 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.