StoneCrest Wealth Management Inc. Grows Stake in Arm Holdings plc (NASDAQ:ARM)

StoneCrest Wealth Management Inc. grew its holdings in Arm Holdings plc (NASDAQ:ARM - Free Report) by 69.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 5,230 shares of the company's stock after acquiring an additional 2,140 shares during the quarter. StoneCrest Wealth Management Inc.'s holdings in ARM were worth $559,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp grew its stake in ARM by 5.4% during the 4th quarter. Bank of New York Mellon Corp now owns 105,300 shares of the company's stock worth $12,990,000 after buying an additional 5,440 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in ARM by 0.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 43,124 shares of the company's stock worth $5,320,000 after buying an additional 353 shares during the last quarter. Fisher Asset Management LLC grew its stake in ARM by 81.5% during the 4th quarter. Fisher Asset Management LLC now owns 3,008 shares of the company's stock worth $371,000 after buying an additional 1,351 shares during the last quarter. Geode Capital Management LLC grew its stake in ARM by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 108,531 shares of the company's stock worth $13,388,000 after buying an additional 848 shares during the last quarter. Finally, Vontobel Holding Ltd. grew its stake in ARM by 57.6% during the 4th quarter. Vontobel Holding Ltd. now owns 41,148 shares of the company's stock worth $5,076,000 after buying an additional 15,046 shares during the last quarter. Hedge funds and other institutional investors own 7.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ARM. KeyCorp dropped their price target on ARM from $195.00 to $175.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Raymond James dropped their price target on ARM from $175.00 to $140.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th. Cfra Research upgraded ARM to a "hold" rating in a research note on Friday, March 21st. Citigroup dropped their price target on ARM from $200.00 to $170.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Finally, Rosenblatt Securities decreased their price objective on ARM from $203.00 to $180.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $152.76.

ARM Price Performance

ARM opened at $133.11 on Friday. The business has a 50 day simple moving average of $115.77 and a 200-day simple moving average of $130.53. The stock has a market capitalization of $141.00 billion, a P/E ratio of 175.15, a P/E/G ratio of 6.33 and a beta of 4.08. Arm Holdings plc has a 12 month low of $80.00 and a 12 month high of $188.75.

ARM (NASDAQ:ARM - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.52 by $0.03. The business had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.23 billion. ARM had a return on equity of 11.94% and a net margin of 21.82%. The company's quarterly revenue was up 33.7% compared to the same quarter last year. During the same period last year, the firm earned $0.36 EPS. Research analysts anticipate that Arm Holdings plc will post 0.9 EPS for the current year.

ARM Company Profile

Arm Holdings Plc engages in the licensing, marketing, research, and development of microprocessors, systems IP, graphics processing units, physical IP and associated systems IP, software, and tools. It operates through the following geographical segments: United Kingdom, United States, and Other Countries.

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