New Wave Wealth Advisors LLC Buys 2,701 Shares of Arm Holdings plc (NASDAQ:ARM)

New Wave Wealth Advisors LLC raised its holdings in Arm Holdings plc (NASDAQ:ARM - Free Report) by 116.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,024 shares of the company's stock after acquiring an additional 2,701 shares during the period. New Wave Wealth Advisors LLC's holdings in ARM were worth $620,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Creative Planning boosted its stake in ARM by 438.5% in the 2nd quarter. Creative Planning now owns 31,601 shares of the company's stock worth $5,171,000 after purchasing an additional 25,733 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of ARM by 810.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 26,672 shares of the company's stock worth $4,364,000 after buying an additional 23,741 shares during the period. Sunbelt Securities Inc. raised its position in ARM by 36.3% in the 2nd quarter. Sunbelt Securities Inc. now owns 1,840 shares of the company's stock valued at $301,000 after buying an additional 490 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in ARM in the 2nd quarter valued at approximately $736,000. Finally, Cetera Investment Advisers boosted its position in ARM by 42.2% during the 2nd quarter. Cetera Investment Advisers now owns 38,973 shares of the company's stock worth $6,377,000 after acquiring an additional 11,572 shares during the last quarter. 7.53% of the stock is currently owned by institutional investors.

ARM Stock Performance

Shares of ARM stock traded up $6.32 during trading on Friday, reaching $159.55. 8,002,040 shares of the company's stock were exchanged, compared to its average volume of 6,368,704. The firm's 50-day moving average price is $141.82 and its 200 day moving average price is $139.75. The company has a market cap of $167.18 billion, a P/E ratio of 265.92, a PEG ratio of 6.90 and a beta of 4.53. Arm Holdings plc has a 1-year low of $69.32 and a 1-year high of $188.75.

ARM (NASDAQ:ARM - Get Free Report) last posted its quarterly 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 company had revenue of $844.00 million for the quarter, compared to the consensus estimate of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. The firm's quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company posted $0.36 EPS. As a group, equities research analysts predict that Arm Holdings plc will post 0.84 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ARM shares. Barclays lifted their price objective on shares of ARM from $145.00 to $155.00 and gave the company an "overweight" rating in a report on Friday, January 17th. Loop Capital boosted their price target on shares of ARM from $130.00 to $180.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. Wells Fargo & Company increased their price objective on ARM from $155.00 to $162.00 and gave the company an "overweight" rating in a report on Monday, January 13th. TD Cowen boosted their target price on shares of ARM from $150.00 to $165.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Finally, Evercore ISI increased their price target on shares of ARM from $173.00 to $176.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, ARM has an average rating of "Moderate Buy" and a consensus target price of $152.09.

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.