Cornerstone Wealth Management LLC Has $521,000 Stake in Arm Holdings plc (NASDAQ:ARM)

Cornerstone Wealth Management LLC reduced its stake in shares of Arm Holdings plc (NASDAQ:ARM) by 1.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 4,224 shares of the company’s stock after selling 75 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in ARM were worth $521,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ARM. Veracity Capital LLC increased its position in shares of ARM by 15.7% during the 4th quarter. Veracity Capital LLC now owns 3,558 shares of the company’s stock worth $439,000 after purchasing an additional 484 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of ARM during the fourth quarter worth approximately $22,705,000. MCF Advisors LLC bought a new position in shares of ARM in the fourth quarter valued at approximately $83,000. Atomi Financial Group Inc. acquired a new position in shares of ARM in the 4th quarter worth approximately $270,000. Finally, Diversify Advisory Services LLC bought a new stake in ARM during the 4th quarter worth approximately $4,977,000. 7.53% of the stock is owned by institutional investors.

ARM Trading Down 2.4 %

Shares of ARM stock opened at $162.52 on Friday. The stock’s fifty day simple moving average is $140.00 and its 200 day simple moving average is $141.03. The company has a market capitalization of $170.29 billion, a PE ratio of 270.87, a PEG ratio of 8.41 and a beta of 4.53. Arm Holdings plc has a 12 month low of $69.32 and a 12 month high of $188.75.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.04. ARM had a return on equity of 13.69% and a net margin of 18.13%. The business had revenue of $844.00 million for the quarter, compared to analysts’ expectations of $810.03 million. During the same quarter in the previous year, the business posted $0.36 EPS. ARM’s revenue for the quarter was up 4.7% on a year-over-year basis. Analysts predict that Arm Holdings plc will post 0.84 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. TD Cowen lifted their price objective on ARM from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Susquehanna upped their price target on shares of ARM from $118.00 to $140.00 and gave the stock a “neutral” rating in a research report on Wednesday. The Goldman Sachs Group raised their price objective on shares of ARM from $144.00 to $159.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Wells Fargo & Company upped their target price on shares of ARM from $155.00 to $162.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Finally, UBS Group started coverage on shares of ARM in a report on Monday, November 25th. They issued a “buy” rating and a $160.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $152.09.

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.