Empirical Financial Services LLC d.b.a. Empirical Wealth Management Takes $277,000 Position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM)

Key Points

• Empirical Financial Services LLC made a new investment of approximately $277,000 in ARM Holdings PLC, acquiring 2,596 shares during the 1st quarter, as reported in their Form 13F filing.
• ARM Holdings recently reported earnings of $0.35 per share for the last quarter, surpassing consensus estimates and reflecting a 12.1% increase in revenue compared to the same period last year.
• Various hedge funds have increased their positions in ARM, with institutional investors collectively owning 7.53% of the company's stock.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake 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 acquired 2,596 shares of the company's stock, valued at approximately $277,000.

Other hedge funds have also recently made changes to their positions in the company. National Bank of Canada FI boosted its position in shares of ARM by 194.3% in the fourth quarter. National Bank of Canada FI now owns 27,080 shares of the company's stock worth $3,341,000 after purchasing an additional 17,877 shares during the period. Geode Capital Management LLC boosted 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 worth $13,388,000 after purchasing an additional 848 shares during the period. ExodusPoint Capital Management LP bought a new position in shares of ARM in the fourth quarter worth approximately $2,561,000. Wells Fargo & Company MN boosted its position in shares of ARM by 0.3% during the fourth quarter. Wells Fargo & Company MN now owns 335,721 shares of the company's stock worth $41,414,000 after acquiring an additional 1,160 shares during the last quarter. Finally, KCM Investment Advisors LLC boosted its position in shares of ARM by 40.0% during the fourth quarter. KCM Investment Advisors LLC now owns 3,060 shares of the company's stock worth $377,000 after acquiring an additional 875 shares during the last quarter. 7.53% of the stock is owned by hedge funds and other institutional investors.

ARM Price Performance

ARM traded down $2.82 during trading on Tuesday, reaching $137.23. 4,360,818 shares of the company's stock were exchanged, compared to its average volume of 5,495,868. ARM Holdings PLC Sponsored ADR has a 1 year low of $80.00 and a 1 year high of $182.88. The stock has a market capitalization of $144.98 billion, a P/E ratio of 207.92, a price-to-earnings-growth ratio of 8.48 and a beta of 4.17. The company's fifty day simple moving average is $147.33 and its 200-day simple moving average is $134.27.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ARM shares. KeyCorp restated an "overweight" rating and set a $190.00 target price (up previously from $175.00) on shares of ARM in a research report on Thursday, July 31st. UBS Group decreased their price target on shares of ARM from $185.00 to $175.00 and set a "buy" rating on the stock in a research note 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. Needham & Company LLC reaffirmed a "hold" rating on shares of ARM in a research note on Thursday, July 31st. Finally, JPMorgan Chase & Co. reduced their target price 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 sell rating, six have given 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 company currently has an average rating of "Moderate Buy" and an average target price of $167.86.

About ARM

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.