Invesco Ltd. Increases Stock Position in ARM Holdings PLC Sponsored ADR $ARM

Key Points

• Invesco Ltd. increased its holdings in ARM Holdings PLC by 9.5% during the first quarter, now owning approximately 0.05% of the company, valued at $61.5 million.
• Analysts have a consensus rating of "Moderate Buy" for ARM stock, with a target price of $169.67, amidst various ratings from "buy" to "sell."
• ARM reported a 12.1% increase in quarterly revenue year-over-year, with an EPS of $0.35, slightly exceeding analysts' expectations.

Invesco Ltd. lifted its position in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 9.5% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 576,020 shares of the company's stock after buying an additional 49,805 shares during the quarter. Invesco Ltd. owned approximately 0.05% of ARM worth $61,513,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Sowell Financial Services LLC purchased a new position in shares of ARM in the 1st quarter worth approximately $229,000. Envestnet Asset Management Inc. grew its stake in ARM by 0.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 43,124 shares of the company's stock worth $5,320,000 after purchasing an additional 353 shares in the last quarter. Geode Capital Management LLC grew its position in shares of ARM by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 108,531 shares of the company's stock worth $13,388,000 after buying an additional 848 shares in the last quarter. Spire Wealth Management raised its stake in ARM by 15.7% in the first quarter. Spire Wealth Management now owns 1,174 shares of the company's stock worth $125,000 after buying an additional 159 shares in the last quarter. Finally, Cerity Partners LLC boosted its holdings in shares of ARM by 19.2% in the 1st quarter. Cerity Partners LLC now owns 14,671 shares of the company's stock valued at $1,567,000 after buying an additional 2,358 shares in the last quarter. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

ARM Stock Performance

Shares of NASDAQ ARM traded down $3.6620 during trading on Wednesday, hitting $130.3480. 3,956,069 shares of the company were exchanged, compared to its average volume of 5,458,827. ARM Holdings PLC Sponsored ADR has a 12-month low of $80.00 and a 12-month high of $182.88. The company has a fifty day moving average price of $148.84 and a 200-day moving average price of $133.02. The firm has a market capitalization of $137.71 billion, a PE ratio of 197.50, a P/E/G ratio of 9.43 and a beta of 4.17.

ARM (NASDAQ:ARM - Get Free Report) last posted its quarterly earnings results 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. ARM had a net margin of 16.96% and a return on equity of 15.56%. The business had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $1.06 billion. During the same quarter in the prior year, the company posted $0.40 EPS. The business's revenue for the quarter was up 12.1% on a year-over-year basis. Research analysts anticipate that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Loop Capital reduced their target price on ARM from $195.00 to $155.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Barclays lowered their price objective on shares of ARM from $125.00 to $115.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Needham & Company LLC reaffirmed a "hold" rating on shares of ARM in a research report on Thursday, July 31st. Bank of America reduced their price objective on ARM from $144.00 to $135.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Finally, Mizuho upped their target price on ARM from $160.00 to $180.00 and gave the company an "outperform" rating in a research report on Thursday, July 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average 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.