Baird Financial Group Inc. Trims Stock Holdings in ARM Holdings PLC Sponsored ADR $ARM

Baird Financial Group Inc. trimmed its position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 4.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,961 shares of the company’s stock after selling 152 shares during the period. Baird Financial Group Inc.’s holdings in ARM were worth $316,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new stake in ARM in the first quarter worth $28,000. TFC Financial Management Inc. increased its stake in shares of 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 in the last quarter. N.E.W. Advisory Services LLC bought a new position in shares of ARM during the first quarter valued at approximately $34,000. MorganRosel Wealth Management LLC bought a new position in shares of ARM during the first quarter valued at approximately $53,000. Finally, Pandora Wealth Inc. bought a new position in shares of ARM during the first quarter valued at approximately $53,000. 7.53% of the stock is owned by hedge funds and other institutional investors.

ARM Price Performance

Shares of NASDAQ:ARM opened at $154.70 on Friday. The company has a market cap of $163.44 billion, a P/E ratio of 234.39, a PEG ratio of 10.30 and a beta of 4.17. ARM Holdings PLC Sponsored ADR has a 1 year low of $80.00 and a 1 year high of $182.88. The stock’s fifty day moving average price is $145.12 and its 200-day moving average price is $130.98.

ARM (NASDAQ:ARM) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. ARM had a return on equity of 15.56% and a net margin of 16.96%.The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the company posted $0.40 earnings per share. The company’s quarterly revenue was up 12.1% on a year-over-year basis. On average, sell-side analysts anticipate that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ARM shares. Guggenheim raised their target price on shares of ARM from $147.00 to $187.00 and gave the company a “buy” rating in a research note on Monday, June 30th. TD Cowen increased their target price on ARM from $155.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. Wells Fargo & Company increased their target price on ARM from $145.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, July 21st. KeyCorp reissued an “overweight” rating and issued a $190.00 target price (up from $175.00) on shares of ARM in a research note on Thursday, July 31st. Finally, BNP Paribas raised ARM from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $110.00 to $210.00 in a research note on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $168.52.

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.