Tower View Wealth Management LLC Grows Stock Holdings in Arm Holdings plc (NASDAQ:ARM)

Tower View Wealth Management LLC lifted its stake in shares of Arm Holdings plc (NASDAQ:ARM) by 1.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,365 shares of the company’s stock after acquiring an additional 205 shares during the quarter. Tower View Wealth Management LLC’s holdings in ARM were worth $2,054,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. KP Management LLC lifted its holdings in shares of ARM by 28.6% in the 3rd quarter. KP Management LLC now owns 45,000 shares of the company’s stock worth $6,435,000 after buying an additional 10,000 shares during the period. Valley National Advisers Inc. raised its holdings in shares of ARM by 71.7% in the third quarter. Valley National Advisers Inc. now owns 541 shares of the company’s stock valued at $77,000 after acquiring an additional 226 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in ARM by 70.6% in the third quarter. DekaBank Deutsche Girozentrale now owns 12,092 shares of the company’s stock worth $1,708,000 after acquiring an additional 5,003 shares during the period. Modera Wealth Management LLC bought a new position in ARM during the 3rd quarter worth about $242,000. Finally, Arkadios Wealth Advisors increased its position in ARM by 9.2% during the 3rd quarter. Arkadios Wealth Advisors now owns 3,953 shares of the company’s stock valued at $565,000 after purchasing an additional 333 shares during the period. Hedge funds and other institutional investors own 7.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. HSBC downgraded ARM from a “hold” rating to a “reduce” rating in a report on Monday, July 29th. Morgan Stanley upgraded shares of ARM from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $107.00 to $190.00 in a report on Friday, July 19th. Sanford C. Bernstein upgraded shares of ARM from an “underperform” rating to a “market perform” rating and raised their price target for the company from $92.00 to $100.00 in a report on Wednesday, August 7th. Evercore ISI boosted their price objective on shares of ARM from $145.00 to $173.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Finally, Daiwa Capital Markets upgraded shares of ARM from a “neutral” rating to an “outperform” rating and set a $130.00 target price for the company in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $138.57.

ARM Price Performance

NASDAQ:ARM opened at $145.64 on Monday. Arm Holdings plc has a 1-year low of $47.12 and a 1-year high of $188.75. The company has a 50 day moving average price of $139.19 and a 200-day moving average price of $135.94. The firm has a market cap of $152.61 billion and a price-to-earnings ratio of 372.57.

ARM (NASDAQ:ARM) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The company had revenue of $939.00 million during the quarter, compared to analysts’ expectations of $905.53 million. ARM had a return on equity of 18.97% and a net margin of 12.12%. ARM’s quarterly revenue was up 39.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.24 EPS. On average, sell-side analysts anticipate that Arm Holdings plc will post 0.86 earnings per share for the current fiscal year.

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.