Farther Finance Advisors LLC Has $625,000 Stake in ARM Holdings PLC Sponsored ADR $ARM

Key Points

• Farther Finance Advisors LLC has increased its stake in ARM Holdings PLC by 139%, reaching a total holding value of $625,000 after acquiring additional shares in the second quarter.
• Several hedge funds, including Goldman Sachs and American Century Companies Inc., have significantly boosted their positions in ARM, indicating strong institutional interest with 7.53% of the stock owned by institutional investors.
• ARM reported financial results showing earnings per share of $0.35, slightly beating analyst estimates, with expected earnings for the current fiscal year projected at $0.9 per share.

Farther Finance Advisors LLC boosted its holdings in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 139.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,863 shares of the company's stock after buying an additional 2,247 shares during the quarter. Farther Finance Advisors LLC's holdings in ARM were worth $625,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ARM. Goldman Sachs Group Inc. increased its position in ARM by 59.3% during the first quarter. Goldman Sachs Group Inc. now owns 6,574,854 shares of the company's stock worth $702,129,000 after buying an additional 2,446,224 shares during the last quarter. Sustainable Growth Advisers LP acquired a new position in ARM during the first quarter worth $170,287,000. American Century Companies Inc. increased its position in ARM by 112.3% during the first quarter. American Century Companies Inc. now owns 703,365 shares of the company's stock worth $75,112,000 after buying an additional 372,081 shares during the last quarter. Jefferies Financial Group Inc. bought a new stake in ARM during the first quarter valued at about $19,565,000. Finally, Altimeter Capital Management LP bought a new stake in ARM during the first quarter valued at about $18,752,000. 7.53% of the stock is owned by institutional investors and hedge funds.

ARM Stock Performance

NASDAQ ARM opened at $139.62 on Friday. The firm has a 50-day simple moving average of $144.31 and a 200 day simple moving average of $132.59. ARM Holdings PLC Sponsored ADR has a twelve month low of $80.00 and a twelve month high of $182.88. The stock has a market cap of $147.51 billion, a PE ratio of 211.55, a PEG ratio of 9.40 and a beta of 4.17.

ARM (NASDAQ:ARM - Get Free Report) last released 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. ARM had a net margin of 16.96% and a return on equity of 15.56%. The business had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $1.06 billion. During the same quarter last year, the company earned $0.40 earnings per share. The firm's revenue was up 12.1% on a year-over-year basis. Research analysts forecast that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ARM has been the subject of a number of recent analyst reports. KeyCorp restated an "overweight" rating and set a $190.00 price target (up from $175.00) on shares of ARM in a report on Thursday, July 31st. BNP Paribas upgraded shares of ARM from a "neutral" rating to an "outperform" rating and upped their price target for the company from $110.00 to $210.00 in a report on Wednesday, July 16th. Needham & Company LLC restated a "hold" rating on shares of ARM in a report on Thursday, July 31st. 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 report on Monday, July 21st. Finally, Rosenblatt Securities restated a "buy" rating and set a $180.00 price target on shares of ARM in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $168.52.

ARM Company 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.

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