Costello Asset Management INC Makes New $256,000 Investment in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM)

Key Points

• Costello Asset Management INC acquired 2,394 shares of ARM Holdings PLC during the first quarter, valued at approximately $256,000.
• As of the latest reports, ARM Holdings has a market capitalization of $147.96 billion and its stock is currently trading at $140.05.
• Equities analysts have varying outlooks on ARM, with target prices ranging from $150.00 to $210.00 and an average rating of "Moderate Buy."

Costello Asset Management INC purchased a new stake in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,394 shares of the company's stock, valued at approximately $256,000.

Several other large investors have also modified their holdings of ARM. GeoWealth Management LLC increased its stake 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 purchasing an additional 92 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in ARM by 2.0% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 4,929 shares of the company's stock valued at $608,000 after buying an additional 96 shares during the period. Sunbelt Securities Inc. boosted its position in shares of ARM by 4.1% in the fourth quarter. Sunbelt Securities Inc. now owns 2,785 shares of the company's stock worth $351,000 after acquiring an additional 110 shares during the last quarter. Convergence Financial LLC boosted its position in shares of ARM by 2.0% in the first quarter. Convergence Financial LLC now owns 6,991 shares of the company's stock worth $747,000 after acquiring an additional 136 shares during the last quarter. Finally, AdvisorNet Financial Inc grew its holdings in ARM by 5.4% in the first quarter. AdvisorNet Financial Inc now owns 2,717 shares of the company's stock valued at $290,000 after purchasing an additional 139 shares during the period. 7.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ARM. Guggenheim increased their price target on shares of ARM from $147.00 to $187.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. KGI Securities started coverage on ARM in a research report on Tuesday, April 15th. They issued a "neutral" rating on the stock. Mizuho boosted their price target on ARM from $160.00 to $180.00 and gave the company an "outperform" rating in a research report on Thursday, July 3rd. TD Cowen upped their price target on ARM from $155.00 to $175.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Finally, BNP Paribas Exane raised ARM from a "neutral" rating to an "outperform" rating and set a $210.00 price objective on the stock in a research note on Wednesday, July 16th. One analyst has rated the stock with a sell rating, six have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, ARM has a consensus rating of "Moderate Buy" and an average target price of $167.86.

ARM Stock Performance

Shares of NASDAQ ARM traded down $1.11 during midday trading on Wednesday, hitting $136.12. The company's stock had a trading volume of 3,220,227 shares, compared to its average volume of 5,507,585. ARM Holdings PLC Sponsored ADR has a 1-year low of $80.00 and a 1-year high of $182.88. The firm's fifty day moving average price is $147.33 and its 200-day moving average price is $134.27. The firm has a market cap of $143.81 billion, a P/E ratio of 206.24, a P/E/G ratio of 9.17 and a beta of 4.17.

ARM (NASDAQ:ARM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.06 billion. ARM had a return on equity of 15.56% and a net margin of 16.96%. The business's revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the business posted $0.40 EPS. As a group, research analysts predict that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current fiscal 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.