ARM Holdings PLC Sponsored ADR $ARM Shares Acquired by Purus Wealth Management LLC

Key Points

• Purus Wealth Management LLC increased its stake in ARM Holdings by 109.6%, owning 4,140 shares worth approximately $442,000 after acquiring an additional 2,165 shares.
• Other institutional investors, including TFC Financial Management Inc. and Brooklyn Investment Group, significantly boosted their holdings in ARM during the first quarter of the year.
• ARM reported $0.35 EPS for the last quarter, exceeding estimates, and had a quarterly revenue of $1.05 billion, with a year-over-year revenue growth of 12.1%.

Purus Wealth Management LLC increased its position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 109.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,140 shares of the company's stock after acquiring an additional 2,165 shares during the period. Purus Wealth Management LLC's holdings in ARM were worth $442,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. TFC Financial Management Inc. grew its holdings in shares of ARM by 163.4% in the 1st quarter. TFC Financial Management Inc. now owns 266 shares of the company's stock worth $28,000 after acquiring an additional 165 shares during the period. Brooklyn Investment Group purchased a new stake in ARM in the 1st quarter valued at approximately $28,000. GeoWealth Management LLC lifted its stake in ARM by 53.8% in the 4th quarter. GeoWealth Management LLC now owns 263 shares of the company's stock valued at $32,000 after buying an additional 92 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new stake in ARM in the 1st quarter valued at approximately $34,000. Finally, Colonial Trust Co SC purchased a new stake in ARM in the 4th quarter valued at approximately $40,000. Institutional investors and hedge funds own 7.53% of the company's stock.

ARM Trading Up 1.6%

Shares of ARM opened at $133.28 on Friday. The firm has a market capitalization of $140.81 billion, a P/E ratio of 201.94, a price-to-earnings-growth ratio of 8.76 and a beta of 4.17. The stock's fifty day simple moving average is $148.55 and its 200 day simple moving average is $132.86. ARM Holdings PLC Sponsored ADR has a twelve month low of $80.00 and a twelve month high of $182.88.

ARM (NASDAQ:ARM - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.35 earnings per share 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 analyst estimates of $1.06 billion. ARM had a return on equity of 15.56% and a net margin of 16.96%.The business's quarterly revenue was up 12.1% on a year-over-year basis. During the same period last year, the company posted $0.40 EPS. Sell-side analysts predict that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ARM. Bank of America reduced their target price on ARM from $144.00 to $135.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. The Goldman Sachs Group began 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 reaffirmed 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. Needham & Company LLC reaffirmed a "hold" rating on shares of ARM in a research note on Thursday, July 31st. Finally, Seaport Res Ptn raised ARM to a "strong-buy" rating in a research note on Monday, August 11th. One equities research 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 assigned a Sell rating to the stock. According to MarketBeat, ARM presently has a consensus rating of "Moderate Buy" and an average price target of $169.67.

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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