Envestnet Asset Management Inc. Decreases Stock Position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM)

Key Points

• Envestnet Asset Management Inc. reduced its stake in ARM Holdings PLC by 4.6% in Q1, now holding shares worth approximately $4.4 million.
• Several hedge funds, including Schroder Investment Management Group, increased their stakes in ARM, indicating growing interest among institutional investors.
• ARM's latest earnings report showed a 33.7% increase in revenue year-over-year, with earnings per share beating analysts' expectations.

Envestnet Asset Management Inc. cut its holdings in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 4.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,159 shares of the company's stock after selling 1,965 shares during the quarter. Envestnet Asset Management Inc.'s holdings in ARM were worth $4,395,000 as of its most recent filing with the SEC.

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

ARM Price Performance

ARM stock traded up $0.67 on Tuesday, hitting $165.04. 793,940 shares of the company were exchanged, compared to its average volume of 5,430,964. ARM Holdings PLC Sponsored ADR has a twelve month low of $80.00 and a twelve month high of $182.88. The business's fifty day moving average is $145.26 and its two-hundred day moving average is $134.07. The stock has a market capitalization of $174.36 billion, a price-to-earnings ratio of 220.05, a price-to-earnings-growth ratio of 9.42 and a beta of 4.19.

ARM (NASDAQ:ARM - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period in the previous year, the firm earned $0.36 earnings per share. ARM's revenue for the quarter was up 33.7% on a year-over-year basis. Equities research analysts expect that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ARM. The Goldman Sachs Group began coverage on shares of ARM in a report on Thursday, July 10th. They set a "neutral" rating and a $160.00 price objective on the stock. Needham & Company LLC reissued a "hold" rating on shares of ARM in a report on Thursday, May 8th. TD Cowen decreased their price objective on shares of ARM from $200.00 to $155.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. UBS Group boosted their price objective on shares of ARM from $155.00 to $185.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Finally, Loop Capital cut their target price on shares of ARM from $195.00 to $155.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, ARM presently has an average rating of "Moderate Buy" and an average price target of $162.96.

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.