ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. grew its stake in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 125.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,989 shares of the company's stock after buying an additional 4,995 shares during the quarter. QRG Capital Management Inc.'s holdings in ARM were worth $960,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ARM. Van ECK Associates Corp increased its position in ARM by 259.7% in the fourth quarter. Van ECK Associates Corp now owns 9,761 shares of the company's stock worth $1,204,000 after buying an additional 7,047 shares in the last quarter. Asset Management One Co. Ltd. increased its position in ARM by 52.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,903 shares of the company's stock worth $375,000 after buying an additional 999 shares in the last quarter. Principal Securities Inc. increased its position in ARM by 6.3% in the fourth quarter. Principal Securities Inc. now owns 4,384 shares of the company's stock worth $541,000 after buying an additional 261 shares in the last quarter. Allworth Financial LP increased its position in ARM by 94.5% in the fourth quarter. Allworth Financial LP now owns 1,023 shares of the company's stock worth $126,000 after buying an additional 497 shares in the last quarter. Finally, CIBC Asset Management Inc increased its position in ARM by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 21,643 shares of the company's stock worth $2,670,000 after buying an additional 1,058 shares in the last quarter. Hedge funds and other institutional investors own 7.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ARM shares. TD Cowen dropped their price objective on ARM from $200.00 to $155.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Rosenblatt Securities dropped their price objective on ARM from $203.00 to $180.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Benchmark reaffirmed a "hold" rating on shares of ARM in a research note on Monday, June 9th. Cfra Research raised ARM to a "hold" rating in a research note on Friday, March 21st. Finally, Wells Fargo & Company dropped their price objective on ARM from $150.00 to $145.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, ARM has an average rating of "Moderate Buy" and an average price target of $152.76.

ARM Trading Down 0.7%

Shares of NASDAQ:ARM traded down $1.01 on Friday, reaching $145.04. The company had a trading volume of 3,793,348 shares, compared to its average volume of 6,375,564. ARM Holdings PLC Sponsored ADR has a 52-week low of $80.00 and a 52-week high of $188.75. The firm's 50 day simple moving average is $124.70 and its 200-day simple moving average is $130.93. The firm has a market capitalization of $153.64 billion, a PE ratio of 193.39, a PEG ratio of 6.71 and a beta of 4.08.

ARM (NASDAQ:ARM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.52 by $0.03. ARM had a return on equity of 17.97% and a net margin of 19.76%. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period last year, the business posted $0.36 EPS. The business's revenue was up 33.7% compared to the same quarter last year. As a group, equities research analysts predict that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current 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.