Bank of New York Mellon Corp Has $10.89 Million Position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM)

Bank of New York Mellon Corp reduced its stake in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 3.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 101,960 shares of the company's stock after selling 3,340 shares during the quarter. Bank of New York Mellon Corp's holdings in ARM were worth $10,888,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. GeoWealth Management LLC boosted its position in ARM by 53.8% during the 4th quarter. GeoWealth Management LLC now owns 263 shares of the company's stock valued at $32,000 after buying an additional 92 shares during the period. TFC Financial Management Inc. raised its stake in shares of ARM by 163.4% in the first quarter. TFC Financial Management Inc. now owns 266 shares of the company's stock worth $28,000 after buying an additional 165 shares during the period. Colonial Trust Co SC purchased a new stake in shares of ARM during the fourth quarter worth about $40,000. MorganRosel Wealth Management LLC purchased a new position in ARM during the 1st quarter valued at approximately $53,000. Finally, Valley National Advisers Inc. increased its stake in ARM by 24.5% during the first quarter. Valley National Advisers Inc. now owns 763 shares of the company's stock worth $81,000 after acquiring an additional 150 shares during the last quarter. 7.53% of the stock is owned by hedge funds and other institutional investors.

ARM Stock Up 3.3%

Shares of NASDAQ ARM traded up $5.18 during trading hours on Monday, hitting $161.92. 5,440,362 shares of the stock were exchanged, compared to its average volume of 6,018,167. The company has a market cap of $171.07 billion, a PE ratio of 147.87, a PEG ratio of 9.04 and a beta of 4.19. The firm has a fifty day moving average price of $141.67 and a 200-day moving average price of $133.37. ARM Holdings PLC Sponsored ADR has a 12 month low of $80.00 and a 12 month high of $182.88.

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

Analyst Ratings Changes

A number of brokerages have weighed in on ARM. BNP Paribas upgraded shares of ARM from a "neutral" rating to a "strong-buy" rating and upped their price objective for the stock from $110.00 to $210.00 in a research report on Wednesday, July 16th. The Goldman Sachs Group started coverage on ARM in a report on Thursday, July 10th. They set a "neutral" rating and a $160.00 target price for the company. Barclays decreased their target price on ARM from $125.00 to $115.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Benchmark reiterated a "hold" rating on shares of ARM in a report on Monday, June 9th. Finally, Bank of America decreased their target price on shares of ARM from $144.00 to $135.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, ARM presently has a consensus rating of "Moderate Buy" and a consensus target price of $161.04.

ARM Company 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.