Prosperity Wealth Management Inc. Purchases New Shares in Arm Holdings plc (NASDAQ:ARM)

Prosperity Wealth Management Inc. purchased a new position in Arm Holdings plc (NASDAQ:ARM) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 3,680 shares of the company’s stock, valued at approximately $277,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Hoey Investments Inc. purchased a new position in shares of ARM during the third quarter valued at approximately $27,000. Armstrong Advisory Group Inc. purchased a new stake in shares of ARM in the third quarter worth $27,000. Centerpoint Advisors LLC bought a new position in shares of ARM during the third quarter valued at $32,000. Ancora Advisors LLC purchased a new position in shares of ARM in the 3rd quarter worth about $32,000. Finally, Bamco Inc. NY bought a new position in ARM in the 3rd quarter worth about $37,000. Institutional investors own 7.53% of the company’s stock.

Analyst Upgrades and Downgrades

ARM has been the subject of several recent analyst reports. Rosenblatt Securities lifted their target price on shares of ARM from $140.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, February 26th. KeyCorp boosted their price objective on shares of ARM from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. TD Cowen increased 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. The Goldman Sachs Group boosted their price target on ARM from $95.00 to $108.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Finally, New Street Research reaffirmed a “neutral” rating and set a $110.00 price objective on shares of ARM in a research report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of 89.88.

ARM Stock Down 9.6 %

Shares of NASDAQ ARM traded down 11.74 during 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 stock has a 50 day simple moving average of 128.56 and a 200 day simple moving average of 85.83. Arm Holdings plc has a 12 month low of 46.50 and a 12 month high of 164.00.

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