Private Advisor Group LLC Purchases 1,045 Shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM)

Private Advisor Group LLC raised its position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 12.0% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 9,757 shares of the company’s stock after buying an additional 1,045 shares during the period. Private Advisor Group LLC’s holdings in ARM were worth $1,042,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of ARM. LPL Financial LLC raised its stake in shares of ARM by 5.3% in the 4th quarter. LPL Financial LLC now owns 234,004 shares of the company’s stock valued at $28,867,000 after purchasing an additional 11,852 shares during the period. Corebridge Financial Inc. increased its position in shares of ARM by 1.8% in the fourth quarter. Corebridge Financial Inc. now owns 8,329 shares of the company’s stock valued at $1,027,000 after acquiring an additional 147 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of ARM by 23.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 59,773 shares of the company’s stock valued at $7,374,000 after acquiring an additional 11,287 shares during the last quarter. NEOS Investment Management LLC increased its position in shares of ARM by 15.8% in the fourth quarter. NEOS Investment Management LLC now owns 4,547 shares of the company’s stock valued at $561,000 after acquiring an additional 621 shares during the last quarter. Finally, Blair William & Co. IL increased its position in shares of ARM by 57.4% in the fourth quarter. Blair William & Co. IL now owns 77,380 shares of the company’s stock valued at $9,546,000 after acquiring an additional 28,217 shares during the last quarter. 7.53% of the stock is currently owned by institutional investors.

ARM Stock Up 2.0%

Shares of ARM stock opened at $163.17 on Monday. The stock has a 50-day moving average price of $144.61 and a 200 day moving average price of $133.91. The firm has a market cap of $172.39 billion, a price-to-earnings ratio of 217.56, a PEG ratio of 9.42 and a beta of 4.19. ARM Holdings PLC Sponsored ADR has a 12 month low of $80.00 and a 12 month high of $182.88.

ARM (NASDAQ:ARM) last announced its earnings results on Wednesday, May 7th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.52 by $0.03. ARM had a net margin of 19.76% and a return on equity of 17.97%. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period last year, the company posted $0.36 EPS. The business’s quarterly revenue was up 33.7% on a year-over-year basis. Sell-side analysts predict that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ARM has been the subject of a number of analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of ARM in a research report on Thursday, May 8th. KGI Securities assumed coverage on shares of ARM in a research note on Tuesday, April 15th. They issued a “neutral” rating on the stock. Benchmark reissued a “hold” rating on shares of ARM in a research note on Monday, June 9th. UBS Group upped their price target on shares of ARM from $155.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, July 21st. Finally, Loop Capital decreased their price target on ARM from $195.00 to $155.00 and set a “buy” rating for the company in a report on Tuesday, May 13th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $161.04.

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.