Ritholtz Wealth Management Increases Stock Holdings in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM)

Ritholtz Wealth Management raised its stake in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 24.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,377 shares of the company’s stock after purchasing an additional 473 shares during the quarter. Ritholtz Wealth Management’s holdings in ARM were worth $254,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of ARM. GeoWealth Management LLC grew its stake in shares of ARM by 53.8% in the 4th quarter. GeoWealth Management LLC now owns 263 shares of the company’s stock valued at $32,000 after purchasing an additional 92 shares during the last quarter. Colonial Trust Co SC acquired a new stake in shares of ARM in the 4th quarter valued at approximately $40,000. Farther Finance Advisors LLC lifted its holdings in shares of ARM by 108.6% in the 4th quarter. Farther Finance Advisors LLC now owns 870 shares of the company’s stock valued at $107,000 after buying an additional 453 shares during the period. West Branch Capital LLC acquired a new stake in shares of ARM in the 1st quarter valued at approximately $107,000. Finally, Harbour Investments Inc. lifted its holdings in shares of ARM by 40.1% in the 4th quarter. Harbour Investments Inc. now owns 902 shares of the company’s stock valued at $111,000 after buying an additional 258 shares during the period. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on ARM. Bank of America reduced their price target on ARM from $144.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Guggenheim reduced their price target on ARM from $180.00 to $147.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Cfra Research raised ARM to a “hold” rating in a report on Friday, March 21st. Benchmark reissued a “hold” rating on shares of ARM in a report on Monday, June 9th. Finally, KGI Securities assumed coverage on ARM in a report on Tuesday, April 15th. They issued a “neutral” rating for the company. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $152.76.

ARM Trading Down 0.7%

ARM stock opened at $145.04 on Friday. The firm has a market capitalization of $153.64 billion, a P/E ratio of 193.39, a PEG ratio of 6.71 and a beta of 4.08. The stock has a fifty day moving average price of $124.70 and a 200 day moving average price of $130.93. ARM Holdings PLC Sponsored ADR has a 52 week low of $80.00 and a 52 week high of $188.75.

ARM (NASDAQ:ARM) last released its 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 firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.23 billion. ARM had a return on equity of 17.97% and a net margin of 19.76%. The business’s quarterly revenue was up 33.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.36 earnings per share. As a group, equities analysts predict that ARM Holdings PLC Sponsored ADR will post 0.9 EPS for the current year.

About ARM

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.