Geneos Wealth Management Inc. Grows Stake in ARM Holdings PLC Sponsored ADR $ARM

Geneos Wealth Management Inc. increased its holdings in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 12.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,035 shares of the company’s stock after purchasing an additional 328 shares during the quarter. Geneos Wealth Management Inc.’s holdings in ARM were worth $324,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Focus Partners Wealth raised its holdings in ARM by 1.6% during the first quarter. Focus Partners Wealth now owns 68,821 shares of the company’s stock worth $7,349,000 after purchasing an additional 1,088 shares in the last quarter. Integrity Alliance LLC. acquired a new stake in ARM during the 1st quarter worth $564,000. Ransom Advisory Ltd acquired a new stake in ARM during the 1st quarter worth $76,000. SCS Capital Management LLC purchased a new stake in ARM in the first quarter valued at $579,000. Finally, Empowered Funds LLC boosted its stake in ARM by 28.8% in the first quarter. Empowered Funds LLC now owns 4,887 shares of the company’s stock valued at $522,000 after acquiring an additional 1,094 shares in the last quarter. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ARM has been the topic of a number of research analyst reports. Mizuho lifted their target price on ARM from $160.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, July 3rd. Rosenblatt Securities reaffirmed a “buy” rating and set a $180.00 price target on shares of ARM in a research report on Thursday, July 31st. KeyCorp reiterated an “overweight” rating and issued a $190.00 price objective (up previously from $175.00) on shares of ARM in a research note on Thursday, July 31st. Seaport Res Ptn upgraded shares of ARM to a “strong-buy” rating in a research report on Monday, August 11th. Finally, BNP Paribas upgraded shares of ARM from a “neutral” rating to an “outperform” rating and upped their price target for the company from $110.00 to $210.00 in a research report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, ARM has an average rating of “Moderate Buy” and an average target price of $168.52.

ARM Price Performance

ARM opened at $153.86 on Tuesday. ARM Holdings PLC Sponsored ADR has a 12 month low of $80.00 and a 12 month high of $182.88. The stock has a market capitalization of $162.55 billion, a P/E ratio of 233.12, a P/E/G ratio of 10.07 and a beta of 4.17. The business has a 50 day simple moving average of $145.17 and a 200-day simple moving average of $131.18.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, July 30th. The company reported $0.35 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 company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.06 billion. ARM’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.40 earnings per share. Research analysts anticipate that ARM Holdings PLC Sponsored ADR will post 0.9 EPS for the current year.

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.