Assetmark Inc. Acquires 48,992 Shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM)

Assetmark Inc. boosted its position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 489,920.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,002 shares of the company's stock after buying an additional 48,992 shares during the period. Assetmark Inc.'s holdings in ARM were worth $5,233,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in ARM. TFC Financial Management Inc. increased its stake in shares of ARM by 163.4% during the 1st quarter. TFC Financial Management Inc. now owns 266 shares of the company's stock valued at $28,000 after acquiring an additional 165 shares during the last quarter. GeoWealth Management LLC increased its position in ARM by 53.8% during the 4th quarter. GeoWealth Management LLC now owns 263 shares of the company's stock worth $32,000 after purchasing an additional 92 shares in the last quarter. Colonial Trust Co SC acquired a new stake in ARM in the fourth quarter valued at approximately $40,000. MorganRosel Wealth Management LLC acquired a new stake in ARM in the first quarter valued at approximately $53,000. Finally, Valley National Advisers Inc. grew its position in ARM by 24.5% in the first quarter. Valley National Advisers Inc. now owns 763 shares of the company's stock valued at $81,000 after acquiring an additional 150 shares in the last quarter. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

ARM Trading Down 0.1%

Shares of ARM stock traded down $0.15 on Wednesday, hitting $163.32. 4,744,571 shares of the stock were exchanged, compared to its average volume of 5,446,432. The firm has a market capitalization of $172.55 billion, a P/E ratio of 217.76, a price-to-earnings-growth ratio of 9.48 and a beta of 4.19. The business has a 50-day moving average of $145.90 and a 200 day moving average of $134.28. ARM Holdings PLC Sponsored ADR has a fifty-two week low of $80.00 and a fifty-two week high of $182.88.

ARM (NASDAQ:ARM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.18). ARM had a return on equity of 17.97% and a net margin of 19.76%. As a group, research analysts forecast that ARM Holdings PLC Sponsored ADR will post 0.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Raymond James Financial reduced their target price on ARM from $175.00 to $140.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. Loop Capital lowered their target price on ARM from $195.00 to $155.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Rosenblatt Securities decreased their price objective on ARM from $203.00 to $180.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. JPMorgan Chase & Co. decreased their price objective on ARM from $175.00 to $150.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Finally, UBS Group raised their price objective on ARM from $155.00 to $185.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $162.96.

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.