Kingsview Wealth Management LLC Grows Position in Arm Holdings plc (NASDAQ:ARM)

Kingsview Wealth Management LLC grew its stake in Arm Holdings plc (NASDAQ:ARM) by 20.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,423 shares of the company’s stock after buying an additional 410 shares during the quarter. Kingsview Wealth Management LLC’s holdings in ARM were worth $347,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. ORG Partners LLC purchased a new position in shares of ARM during the 3rd quarter valued at $29,000. Transcendent Capital Group LLC bought a new stake in ARM during the second quarter valued at about $33,000. Gilliland Jeter Wealth Management LLC lifted its position in shares of ARM by 83.0% in the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock valued at $37,000 after acquiring an additional 117 shares in the last quarter. RiverPark Advisors LLC boosted its stake in shares of ARM by 45.3% in 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. Finally, Mather Group LLC. purchased a new stake in shares of ARM during the second quarter worth about $41,000. Institutional investors own 7.53% of the company’s stock.

ARM Stock Down 2.5 %

Shares of NASDAQ ARM opened at $133.37 on Friday. The business has a fifty day simple moving average of $143.07 and a two-hundred day simple moving average of $141.21. The firm has a market cap of $139.75 billion, a PE ratio of 222.28, a price-to-earnings-growth ratio of 6.97 and a beta of 5.40. Arm Holdings plc has a twelve month low of $60.37 and a twelve month high of $188.75.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ARM shares. Evercore ISI boosted their price target on ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. The Goldman Sachs Group boosted their target price on shares of ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. William Blair assumed coverage on shares of ARM in a report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Wells Fargo & Company started coverage on shares of ARM in a report on Friday, November 22nd. They set an “overweight” rating and a $155.00 price objective for the company. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $180.00 target price on shares of ARM in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $150.32.

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.