5,420 Shares in ARM Holdings PLC Sponsored ADR $ARM Acquired by SCS Capital Management LLC

Key Points

• SCS Capital Management LLC acquired 5,420 shares of ARM Holdings PLC for approximately $579,000 during the first quarter.
• Analysts have largely upgraded ARM's outlook, with a consensus rating of "Moderate Buy" and an average price target of $169.67.
• Following a recent earnings report, ARM's stock price increased by 9.5%, closing at $154.14, with a 52-week high of $182.88.

SCS Capital Management LLC bought a new position in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,420 shares of the company's stock, valued at approximately $579,000.

Other hedge funds have also recently bought and sold shares of the company. Sowell Financial Services LLC purchased a new stake in ARM in the 1st quarter valued at about $229,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of ARM by 12.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 107,728 shares of the company's stock worth $11,505,000 after buying an additional 11,953 shares during the period. Cerity Partners LLC boosted its position in shares of ARM by 19.2% in the first quarter. Cerity Partners LLC now owns 14,671 shares of the company's stock worth $1,567,000 after buying an additional 2,358 shares during the period. Spire Wealth Management increased its position in shares of ARM by 15.7% during the first quarter. Spire Wealth Management now owns 1,174 shares of the company's stock worth $125,000 after acquiring an additional 159 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of ARM by 85.7% during the first quarter. Farther Finance Advisors LLC now owns 1,616 shares of the company's stock worth $173,000 after acquiring an additional 746 shares during the last quarter. Institutional investors and hedge funds own 7.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ARM shares. Seaport Res Ptn raised ARM to a "strong-buy" rating in a research report on Monday, August 11th. KeyCorp reaffirmed an "overweight" rating and set a $190.00 price target (up previously from $175.00) on shares of ARM in a research report on Thursday, July 31st. 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. Raymond James Financial increased their price target on shares of ARM from $140.00 to $165.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Finally, Mizuho increased their price target on shares of ARM from $160.00 to $180.00 and gave the stock an "outperform" rating in a research report on Thursday, July 3rd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $169.67.

ARM Stock Up 9.5%

Shares of ARM stock opened at $154.14 on Thursday. The business has a 50 day moving average of $145.12 and a two-hundred day moving average of $130.88. ARM Holdings PLC Sponsored ADR has a 52 week low of $80.00 and a 52 week high of $182.88. The company has a market cap of $162.85 billion, a P/E ratio of 233.55, a PEG ratio of 9.41 and a beta of 4.17.

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

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.

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