Avantax Advisory Services Inc. Lowers Position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM)

Avantax Advisory Services Inc. decreased its position in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 21.0% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,953 shares of the company’s stock after selling 1,315 shares during the quarter. Avantax Advisory Services Inc.’s holdings in ARM were worth $529,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TFC Financial Management Inc. grew its holdings in shares of ARM by 163.4% in the first quarter. TFC Financial Management Inc. now owns 266 shares of the company’s stock worth $28,000 after purchasing an additional 165 shares during the last quarter. GeoWealth Management LLC boosted its position in ARM by 53.8% in the fourth quarter. GeoWealth Management LLC now owns 263 shares of the company’s stock valued at $32,000 after buying an additional 92 shares during the last quarter. Colonial Trust Co SC acquired a new stake in ARM during the 4th quarter worth about $40,000. MorganRosel Wealth Management LLC acquired a new stake in shares of ARM during the 1st quarter worth approximately $53,000. Finally, Valley National Advisers Inc. raised its position in shares of ARM by 24.5% in the first quarter. Valley National Advisers Inc. now owns 763 shares of the company’s stock worth $81,000 after acquiring an additional 150 shares during the period. Institutional investors own 7.53% of the company’s stock.

ARM Trading Down 2.0%

Shares of ARM stock opened at $137.23 on Wednesday. The company has a market cap of $144.98 billion, a P/E ratio of 207.92, a PEG ratio of 8.48 and a beta of 4.17. The business has a 50-day moving average price of $147.33 and a two-hundred day moving average price of $134.27. ARM Holdings PLC Sponsored ADR has a 1-year low of $80.00 and a 1-year high of $182.88.

ARM (NASDAQ:ARM) last posted its earnings results on Wednesday, July 30th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. ARM had a net margin of 16.96% and a return on equity of 15.56%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the business posted $0.40 EPS. The firm’s revenue was up 12.1% compared to the same quarter last year. Equities research analysts forecast that ARM Holdings PLC Sponsored ADR will post 0.9 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. BNP Paribas Exane upgraded ARM from a “neutral” rating to an “outperform” rating and set a $210.00 price objective on the stock in a report on Wednesday, July 16th. JPMorgan Chase & Co. dropped their target price on shares of ARM from $175.00 to $150.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. Benchmark reaffirmed a “hold” rating on shares of ARM in a report on Monday, June 9th. Rosenblatt Securities reissued a “buy” rating and set a $180.00 price target on shares of ARM in a report on Thursday, July 31st. Finally, KeyCorp restated an “overweight” rating and set a $190.00 target price (up from $175.00) on shares of ARM in a research report on Thursday, July 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, ARM currently has an average rating of “Moderate Buy” and a consensus price target of $167.86.

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.