Driehaus Capital Management LLC Invests $2.06 Million in ARM Holdings PLC Sponsored ADR $ARM

Key Points

• Driehaus Capital Management LLC acquired a significant stake in ARM Holdings PLC worth approximately $2.06 million during the first quarter, purchasing 19,317 shares.
• Research firms are optimistic about ARM, with targets ranging from $115.00 to $180.00, and the consensus rating leaning towards a "Moderate Buy."
• In its recent quarterly results, ARM reported an EPS of $0.35, slightly beating analysts' expectations, alongside a 12.1% year-over-year revenue increase.

Driehaus Capital Management LLC bought a new position in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 19,317 shares of the company's stock, valued at approximately $2,063,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brooklyn Investment Group bought a new stake in shares of ARM during the first quarter worth about $28,000. TFC Financial Management Inc. grew its position in ARM by 163.4% in the 1st quarter. TFC Financial Management Inc. now owns 266 shares of the company's stock worth $28,000 after purchasing an additional 165 shares in the last quarter. N.E.W. Advisory Services LLC bought a new stake in ARM in the 1st quarter worth about $34,000. Colonial Trust Co SC bought a new stake in ARM in the 4th quarter worth about $40,000. Finally, MorganRosel Wealth Management LLC bought a new stake in ARM in the 1st quarter worth about $53,000. 7.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Barclays reduced their price objective on shares of ARM from $125.00 to $115.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Raymond James Financial increased their target price on shares of ARM from $140.00 to $165.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Mizuho upped their price target on shares of ARM from $160.00 to $180.00 and gave the company an "outperform" rating in a research note on Thursday, July 3rd. Wells Fargo & Company upped their price target on shares of ARM from $145.00 to $175.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Finally, JPMorgan Chase & Co. dropped their price target on shares of ARM from $175.00 to $150.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $169.67.

ARM Trading Up 2.0%

Shares of NASDAQ:ARM traded up $2.69 during trading on Friday, reaching $138.17. The company had a trading volume of 2,812,196 shares, compared to its average volume of 5,328,213. The company has a fifty day moving average of $146.44 and a two-hundred day moving average of $131.14. The stock has a market capitalization of $145.98 billion, a P/E ratio of 209.35, a price-to-earnings-growth ratio of 8.78 and a beta of 4.17. 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 released its earnings results on Wednesday, July 30th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. ARM had a net margin of 16.96% and a return on equity of 15.56%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the firm earned $0.40 EPS. The firm's quarterly revenue was up 12.1% compared to the same quarter last year. As a group, equities research analysts predict that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current 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.