Exchange Traded Concepts LLC Decreases Stock Holdings in ARM Holdings PLC Sponsored ADR $ARM

Key Points

• Exchange Traded Concepts LLC has reduced its stake in ARM Holdings PLC by 7.0% in the second quarter, now owning 35,120 shares valued at approximately $5.68 million.
• Analysts have recently set new price targets for ARM, with Guggenheim raising its target from $147.00 to $187.00 and Goldman Sachs establishing a target of $160.00.
• ARM reported a quarterly earnings per share of $0.35, surpassing estimates, with revenue of $1.05 billion and a net margin of 16.96% for the quarter.

Exchange Traded Concepts LLC reduced its position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 7.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,120 shares of the company's stock after selling 2,639 shares during the quarter. Exchange Traded Concepts LLC's holdings in ARM were worth $5,680,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. TFC Financial Management Inc. lifted its holdings in shares of 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 acquiring an additional 165 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of ARM during the first quarter valued at about $28,000. N.E.W. Advisory Services LLC bought a new stake in shares of ARM in the 1st quarter valued at about $34,000. MorganRosel Wealth Management LLC purchased a new stake in ARM during the 1st quarter valued at about $53,000. Finally, Pandora Wealth Inc. purchased a new position in ARM in the 1st quarter worth approximately $53,000. 7.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ARM has been the subject of a number of recent analyst reports. Mizuho upped their price target on shares of ARM from $160.00 to $180.00 and gave the company an "outperform" rating in a report on Thursday, July 3rd. Wells Fargo & Company raised their target price on ARM from $145.00 to $175.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Benchmark reiterated a "hold" rating on shares of ARM in a report on Monday, June 9th. Raymond James Financial upped their target price on ARM from $140.00 to $165.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Finally, UBS Group decreased their price objective on shares of ARM from $185.00 to $175.00 and set a "buy" rating for the company in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $168.52.

ARM Stock Down 0.9%

ARM stock traded down $1.36 during trading on Tuesday, hitting $143.12. 1,119,241 shares of the company's stock traded hands, compared to its average volume of 5,308,543. The business has a fifty day simple moving average of $145.30 and a two-hundred day simple moving average of $132.08. The firm has a market capitalization of $151.20 billion, a P/E ratio of 216.95, a PEG ratio of 9.55 and a beta of 4.17. 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 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $1.06 billion. During the same quarter in the prior year, the company posted $0.40 earnings per share. ARM's revenue for the quarter was up 12.1% compared to the same quarter last year. On average, equities research analysts predict 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.