ARM Holdings PLC Sponsored ADR $ARM Shares Acquired by Hoey Investments Inc.

Key Points

• Hoey Investments Inc. significantly increased its stake in ARM Holdings PLC by 159.3%, owning a total of 15,206 shares worth approximately $2.46 million.
• ARM reported quarterly earnings of $0.35 EPS, surpassing analysts' expectations, and had revenue of $1.05 billion, marking a year-over-year increase of 12.1%.
• Recent analyst reports have led to multiple target price upgrades for ARM, with Evercore ISI setting the target at $178.00, reflecting strong market confidence.

Hoey Investments Inc. increased its stake in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 159.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,206 shares of the company's stock after acquiring an additional 9,341 shares during the quarter. ARM makes up 0.4% of Hoey Investments Inc.'s holdings, making the stock its 21st largest holding. Hoey Investments Inc.'s holdings in ARM were worth $2,459,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of ARM. TFC Financial Management Inc. grew its holdings 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 buying an additional 165 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of ARM during the first quarter valued at $28,000. N.E.W. Advisory Services LLC purchased a new position in shares of ARM during the first quarter valued at $34,000. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of ARM during the second quarter valued at $39,000. Finally, MorganRosel Wealth Management LLC purchased a new position in shares of ARM during the first quarter valued at $53,000. 7.53% of the stock is currently owned by institutional investors and hedge funds.

ARM Trading Up 1.1%

ARM stock opened at $144.48 on Tuesday. ARM Holdings PLC Sponsored ADR has a 1-year low of $80.00 and a 1-year high of $182.88. The firm has a market cap of $152.64 billion, a P/E ratio of 218.91, a P/E/G ratio of 9.55 and a beta of 4.17. The business's 50 day moving average is $145.30 and its 200-day moving average is $132.08.

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. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.06 billion. ARM had a return on equity of 15.56% and a net margin of 16.96%.ARM's revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.40 EPS. Sell-side analysts forecast that ARM Holdings PLC Sponsored ADR will post 0.9 EPS for the current year.

Analysts Set New Price Targets

ARM has been the topic of a number of research analyst reports. Evercore ISI lifted their price target on ARM from $173.00 to $178.00 and gave the company an "outperform" rating in a report on Thursday, September 11th. The Goldman Sachs Group started coverage on ARM in a research note on Thursday, July 10th. They issued a "neutral" rating and a $160.00 target price on the stock. KeyCorp restated an "overweight" rating and issued a $190.00 target price (up previously from $175.00) on shares of ARM in a research note on Thursday, July 31st. Benchmark restated a "hold" rating on shares of ARM in a research note on Monday, June 9th. Finally, Wells Fargo & Company boosted their target price on ARM from $145.00 to $175.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $168.52.

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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