HighTower Advisors LLC Has $2.70 Million Stock Position in ARM Holdings PLC Sponsored ADR $ARM

HighTower Advisors LLC decreased its position in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 34.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,321 shares of the company’s stock after selling 13,281 shares during the period. HighTower Advisors LLC’s holdings in ARM were worth $2,704,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. TFC Financial Management Inc. boosted its position in ARM by 163.4% during the first quarter. TFC Financial Management Inc. now owns 266 shares of the company’s stock valued at $28,000 after purchasing an additional 165 shares during the last quarter. GeoWealth Management LLC boosted its position in ARM by 53.8% during the fourth 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. N.E.W. Advisory Services LLC acquired a new stake in ARM during the first quarter valued at $34,000. Colonial Trust Co SC acquired a new stake in ARM during the fourth quarter valued at $40,000. Finally, MorganRosel Wealth Management LLC acquired a new stake in ARM during the first quarter valued at $53,000. Institutional investors and hedge funds own 7.53% of the company’s stock.

ARM Stock Performance

NASDAQ ARM opened at $137.92 on Friday. ARM Holdings PLC Sponsored ADR has a twelve month low of $80.00 and a twelve month high of $182.88. The stock has a market capitalization of $145.71 billion, a PE ratio of 208.97, a P/E/G ratio of 8.91 and a beta of 4.17. The stock has a 50-day simple moving average of $148.60 and a 200 day simple moving average of $132.69.

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

Wall Street Analyst Weigh In

ARM has been the subject of a number of analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $180.00 price target on shares of ARM in a research report on Thursday, July 31st. 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 research report on Thursday, May 8th. Morgan Stanley boosted their price target on ARM from $150.00 to $194.00 and gave the stock an “overweight” rating in a research report on Monday, July 28th. Mizuho boosted their price target on ARM from $160.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, July 3rd. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $190.00 price target (up previously from $175.00) on shares of ARM in a research report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $169.67.

ARM 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.