Alliancebernstein L.P. Grows Holdings in ARM Holdings PLC Sponsored ADR $ARM

Alliancebernstein L.P. raised its holdings in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 45.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 163,444 shares of the company's stock after purchasing an additional 50,889 shares during the quarter. Alliancebernstein L.P.'s holdings in ARM were worth $17,454,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Sowell Financial Services LLC acquired a new stake in ARM during the 1st quarter valued at approximately $229,000. Cerity Partners LLC grew its stake in ARM by 19.2% during the 1st quarter. Cerity Partners LLC now owns 14,671 shares of the company's stock valued at $1,567,000 after purchasing an additional 2,358 shares in the last quarter. Spire Wealth Management grew its stake in ARM by 15.7% during the 1st quarter. Spire Wealth Management now owns 1,174 shares of the company's stock valued at $125,000 after purchasing an additional 159 shares in the last quarter. Farther Finance Advisors LLC grew its stake in ARM by 85.7% during the 1st quarter. Farther Finance Advisors LLC now owns 1,616 shares of the company's stock valued at $173,000 after purchasing an additional 746 shares in the last quarter. Finally, Ritholtz Wealth Management grew its stake in ARM by 24.8% during the 1st quarter. Ritholtz Wealth Management now owns 2,377 shares of the company's stock valued at $254,000 after purchasing an additional 473 shares in the last quarter. Institutional investors and hedge funds own 7.53% of the company's stock.

ARM Trading Up 9.5%

Shares of NASDAQ ARM opened at $154.14 on Thursday. The stock's 50 day simple moving average is $145.12 and its 200 day simple moving average is $130.88. The company has a market cap of $162.85 billion, a price-to-earnings ratio of 233.55, a price-to-earnings-growth ratio of 9.41 and a beta of 4.17. ARM Holdings PLC Sponsored ADR has a 12-month low of $80.00 and a 12-month high of $182.88.

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

Analyst Upgrades and Downgrades

ARM has been the topic of a number of research analyst reports. Mizuho increased their target price on ARM from $160.00 to $180.00 and gave the stock an "outperform" rating in a report on Thursday, July 3rd. UBS Group decreased their price target on shares of ARM from $185.00 to $175.00 and set a "buy" rating for the company in a report on Thursday, July 31st. Benchmark reissued a "hold" rating on shares of ARM in a report on Monday, June 9th. The Goldman Sachs Group began coverage on ARM in a report on Thursday, July 10th. They issued a "neutral" rating and a $160.00 price target on the stock. Finally, Raymond James Financial raised their price target on ARM from $140.00 to $165.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, ARM presently has an average rating of "Moderate Buy" and an average price target of $169.67.

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.

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