Cresset Asset Management LLC Purchases 4,135 Shares of ARM Holdings PLC Sponsored ADR $ARM

Key Points

• Cresset Asset Management LLC has increased its holdings in ARM Holdings PLC by 36.1%, acquiring an additional 4,135 shares, bringing their total ownership to 15,592 shares valued at approximately $1.67 million.
• Several institutional investors, including GeoWealth Management LLC and B. Riley Wealth Advisors Inc., have also raised their stakes in ARM, reflecting growing institutional interest in the company.
• ARM recently reported earnings of $0.35 per share for the last quarter, exceeding analysts' expectations, with a revenue of $1.05 billion, although slightly below estimates of $1.06 billion.

Cresset Asset Management LLC lifted its holdings in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 36.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,592 shares of the company's stock after purchasing an additional 4,135 shares during the period. Cresset Asset Management LLC's holdings in ARM were worth $1,665,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ARM. GeoWealth Management LLC increased its position in shares of ARM by 53.8% in the fourth quarter. GeoWealth Management LLC now owns 263 shares of the company's stock worth $32,000 after acquiring an additional 92 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its position in shares of ARM by 2.0% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 4,929 shares of the company's stock worth $608,000 after acquiring an additional 96 shares in the last quarter. Sunbelt Securities Inc. increased its position in shares of ARM by 4.1% in the fourth quarter. Sunbelt Securities Inc. now owns 2,785 shares of the company's stock worth $351,000 after acquiring an additional 110 shares in the last quarter. Convergence Financial LLC increased its position in shares of ARM by 2.0% in the first quarter. Convergence Financial LLC now owns 6,991 shares of the company's stock worth $747,000 after acquiring an additional 136 shares in the last quarter. Finally, AdvisorNet Financial Inc increased its position in shares of ARM by 5.4% in the first quarter. AdvisorNet Financial Inc now owns 2,717 shares of the company's stock worth $290,000 after acquiring an additional 139 shares in the last quarter. Institutional investors and hedge funds own 7.53% of the company's stock.

ARM Trading Up 1.8%

NASDAQ ARM traded up $2.48 during trading on Tuesday, reaching $140.26. The company's stock had a trading volume of 2,510,405 shares, compared to its average volume of 5,192,702. The stock has a market capitalization of $148.19 billion, a PE ratio of 212.52, a PEG ratio of 9.21 and a beta of 4.17. The business has a 50-day moving average price of $148.42 and a 200-day moving average price of $132.05. ARM Holdings PLC Sponsored ADR has a 1-year low of $80.00 and a 1-year high of $182.88.

ARM (NASDAQ:ARM - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.01. The firm had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $1.06 billion. ARM had a net margin of 16.96% and a return on equity of 15.56%. The company's revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.40 earnings per share. As a group, analysts expect that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ARM. Seaport Res Ptn raised shares of ARM to a "strong-buy" rating in a research report on Monday, August 11th. UBS Group dropped their target price on shares of ARM from $185.00 to $175.00 and set a "buy" rating on the stock in a research report on Thursday, July 31st. Wells Fargo & Company lifted their target price on shares of ARM from $145.00 to $175.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Citigroup dropped their target price on shares of ARM from $200.00 to $170.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Finally, The Goldman Sachs Group started coverage on shares of ARM in a research report on Thursday, July 10th. They issued a "neutral" rating and a $160.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target 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.