15 AI Stocks Making Waves on Wall Street

13. Arm Holdings plc (NASDAQ:ARM)

Number of Hedge Fund Holders: 42

Arm Holdings plc (NASDAQ:ARM) is one of the 15 AI Stocks Making Waves on Wall Street. On June 12, Benchmark analyst Cody Acree reiterated a “Hold” rating on the stock.

The rating reaffirmation follows a virtual conference call with the company’s Senior Director of Investor Relations, Alexis Waadt. Expressing optimism regarding Arm’s strong fundamental performance drivers, the firm highlighted Arm’s impressive 96.98% gross margin and 23.94% year-over-year revenue growth.

The firm particularly noted Arm’s globally expanding licensing opportunities, robust position in the mobile market, as well as recent growth drivers in AI PCs, data centers, and more. The company also boasts diverse revenue streams and strategic partnerships, and holds the flexibility to navigate market challenges and leverage upcoming opportunities in the AI landscape.

Analysts on Wall Street currently have a consensus “Buy” rating on the stock. The average price target of $147 implies a 5.7% upside; however, the Street-high target of $180 implies an upside of 29.4%.

Arm Holdings plc (NASDAQ:ARM) is a semiconductor and software design company that designs and manufactures semiconductor technology and other related products.