Atria Wealth Solutions Inc. Has $2.36 Million Stock Holdings in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM)

Key Points

• Atria Wealth Solutions Inc. increased its stake in ARM Holdings PLC by 355.9% during the first quarter, holding 22,113 shares valued at approximately $2.36 million.
• Several institutional investors also acquired significant stakes in ARM, including Sustainable Growth Advisers LP, which invested $170.29 million during the first quarter.
• Wall Street analysts have a consensus rating of "Moderate Buy" for ARM, with a price target averaging $169.67 following recent upward adjustments by firms like Morgan Stanley and Wells Fargo.

Atria Wealth Solutions Inc. boosted its holdings in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 355.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,113 shares of the company's stock after buying an additional 17,263 shares during the period. Atria Wealth Solutions Inc.'s holdings in ARM were worth $2,361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in ARM. Sowell Financial Services LLC purchased a new position in ARM during the first quarter worth approximately $229,000. Envestnet Asset Management Inc. lifted its position in shares of ARM by 0.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 43,124 shares of the company's stock valued at $5,320,000 after acquiring an additional 353 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of ARM by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 108,531 shares of the company's stock valued at $13,388,000 after acquiring an additional 848 shares in the last quarter. Spire Wealth Management lifted its position in shares of ARM by 15.7% in the first quarter. Spire Wealth Management now owns 1,174 shares of the company's stock valued at $125,000 after acquiring an additional 159 shares in the last quarter. Finally, Cerity Partners LLC lifted its position in shares of ARM by 19.2% in the first quarter. Cerity Partners LLC now owns 14,671 shares of the company's stock valued at $1,567,000 after acquiring an additional 2,358 shares in the last quarter. 7.53% of the stock is owned by institutional investors and hedge funds.

ARM Trading Up 1.0%

Shares of ARM stock traded up $1.34 on Tuesday, hitting $142.39. 3,991,807 shares of the stock were exchanged, compared to its average volume of 5,521,386. The firm has a market capitalization of $150.44 billion, a P/E ratio of 215.74, a price-to-earnings-growth ratio of 9.26 and a beta of 4.17. The business has a 50-day moving average of $148.09 and a 200 day moving average of $133.37. 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 released its earnings results on Wednesday, July 30th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. ARM had a return on equity of 15.56% and a net margin of 16.96%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the company posted $0.40 earnings per share. ARM's revenue was up 12.1% on a year-over-year basis. As a group, research analysts forecast that ARM Holdings PLC Sponsored ADR will post 0.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ARM. Seaport Res Ptn upgraded ARM to a "strong-buy" rating in a report on Monday. The Goldman Sachs Group started coverage on ARM in a report on Thursday, July 10th. They issued a "neutral" rating and a $160.00 price objective on the stock. Bank of America cut their price objective on ARM from $144.00 to $135.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. KGI Securities began coverage on ARM in a research report on Tuesday, April 15th. They set a "neutral" rating on the stock. Finally, Benchmark reissued a "hold" rating on shares of ARM in a research note on Monday, June 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, ARM has a consensus rating of "Moderate Buy" and a consensus target price of $169.67.

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.