ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) Shares Purchased by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lifted its stake in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 91.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,067 shares of the company's stock after purchasing an additional 1,940 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in ARM were worth $434,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Global X Japan Co. Ltd. lifted its stake in ARM by 4.6% in the first quarter. Global X Japan Co. Ltd. now owns 10,867 shares of the company's stock worth $1,160,000 after purchasing an additional 480 shares during the last quarter. Prosperity Wealth Management Inc. raised its holdings in shares of ARM by 3.5% in the first quarter. Prosperity Wealth Management Inc. now owns 5,264 shares of the company's stock worth $562,000 after buying an additional 179 shares during the period. Robertson Stephens Wealth Management LLC bought a new stake in shares of ARM during the 1st quarter worth approximately $368,000. Chicago Capital LLC increased its stake in ARM by 27.2% in the first quarter. Chicago Capital LLC now owns 15,653 shares of the company's stock worth $1,672,000 after purchasing an additional 3,349 shares during the period. Finally, QRG Capital Management Inc. grew its holdings in shares of ARM by 125.1% in the first quarter. QRG Capital Management Inc. now owns 8,989 shares of the company's stock worth $960,000 after purchasing an additional 4,995 shares during the last quarter. Institutional investors own 7.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ARM shares. Barclays lowered their target price on ARM from $125.00 to $115.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Guggenheim dropped their target price on ARM from $180.00 to $147.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Citigroup dropped their price objective on ARM from $200.00 to $170.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. KeyCorp lowered their price target on shares of ARM from $195.00 to $175.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Finally, KGI Securities began coverage on ARM in a research report on Tuesday, April 15th. They set a "neutral" rating on the stock. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, ARM has an average rating of "Moderate Buy" and an average target price of $152.76.

ARM Stock Performance

Shares of NASDAQ:ARM traded up $7.31 during midday trading on Friday, reaching $165.46. 7,477,239 shares of the company's stock traded hands, compared to its average volume of 6,232,361. The company has a market cap of $175.27 billion, a P/E ratio of 220.61, a PEG ratio of 7.60 and a beta of 4.08. The company has a fifty day simple moving average of $130.20 and a two-hundred day simple moving average of $131.47. ARM Holdings PLC Sponsored ADR has a 1 year low of $80.00 and a 1 year high of $188.75.

ARM (NASDAQ:ARM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.55 earnings per share for the quarter, beating 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 firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period last year, the company posted $0.36 EPS. ARM's quarterly revenue was up 33.7% compared to the same quarter last year. As a group, research analysts forecast that ARM Holdings PLC Sponsored ADR will post 0.9 EPS for the current fiscal 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.