ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) Shares Sold by Elite Wealth Management Inc.

Elite Wealth Management Inc. decreased its holdings in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 36.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,228 shares of the company's stock after selling 15,209 shares during the period. ARM makes up 0.4% of Elite Wealth Management Inc.'s portfolio, making the stock its 17th biggest holding. Elite Wealth Management Inc.'s holdings in ARM were worth $2,801,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ARM. Charles Schwab Investment Management Inc. boosted its position in shares of ARM by 41.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 26,191 shares of the company's stock valued at $3,231,000 after purchasing an additional 7,734 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of ARM by 5.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,551 shares of the company's stock valued at $1,302,000 after purchasing an additional 559 shares in the last quarter. Amundi bought a new position in shares of ARM during the 4th quarter valued at about $1,167,000. Farther Finance Advisors LLC boosted its position in shares of ARM by 108.6% during the 4th quarter. Farther Finance Advisors LLC now owns 870 shares of the company's stock valued at $107,000 after purchasing an additional 453 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its position in shares of ARM by 17.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 51,341 shares of the company's stock valued at $6,333,000 after purchasing an additional 7,695 shares in the last quarter. Institutional investors own 7.53% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wells Fargo & Company decreased their target price on shares of ARM from $150.00 to $145.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Loop Capital decreased their target price on shares of ARM from $195.00 to $155.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Rosenblatt Securities decreased their target price on shares of ARM from $203.00 to $180.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Barclays decreased their target price on shares of ARM from $125.00 to $115.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Finally, Citigroup decreased their target price on shares of ARM from $200.00 to $170.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, ARM currently has a consensus rating of "Moderate Buy" and an average target price of $154.00.

ARM Stock Performance

Shares of ARM opened at $145.94 on Monday. The firm has a market cap of $154.59 billion, a PE ratio of 194.59, a PEG ratio of 6.70 and a beta of 4.19. The firm's 50 day moving average price is $138.50 and its 200 day moving average price is $132.46. ARM Holdings PLC Sponsored ADR has a twelve month low of $80.00 and a twelve month high of $183.74.

ARM (NASDAQ:ARM - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.03. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.23 billion. ARM had a net margin of 19.76% and a return on equity of 17.97%. The company's revenue for the quarter was up 33.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.36 earnings per share. On average, sell-side analysts anticipate that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current fiscal year.

ARM 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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