5,181 Shares in ARM Holdings PLC Sponsored ADR $ARM Purchased by Fred Alger Management LLC

Key Points

• Fred Alger Management LLC acquired 5,181 shares of ARM Holdings PLC Sponsored ADR, worth approximately $553,000, in the first quarter of the year.
• A range of hedge funds, including Goldman Sachs Group Inc. and American Century Companies Inc., have significantly increased their stakes in ARM during the first quarter, indicating growing institutional interest in the company.
• Analysts generally have a positive outlook on ARM, with an average rating of "Moderate Buy" and a target price of $169.67, reflecting anticipated growth despite recent price target adjustments.

Fred Alger Management LLC acquired a new position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 5,181 shares of the company's stock, valued at approximately $553,000.

Several other institutional investors have also added to or reduced their stakes in ARM. TFC Financial Management Inc. raised its stake in shares of ARM by 163.4% during 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. Brooklyn Investment Group bought a new stake in shares of ARM during the first quarter valued at approximately $28,000. N.E.W. Advisory Services LLC bought a new stake in shares of ARM during the first quarter valued at approximately $34,000. MorganRosel Wealth Management LLC purchased a new position in ARM during the first quarter valued at approximately $53,000. Finally, Pandora Wealth Inc. purchased a new position in ARM during the first quarter valued at approximately $53,000. Institutional investors own 7.53% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Mizuho lifted their price target on shares of ARM from $160.00 to $180.00 and gave the stock an "outperform" rating in a report on Thursday, July 3rd. Raymond James Financial lifted their price target on shares of ARM from $140.00 to $165.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Guggenheim lifted their price target on shares of ARM from $147.00 to $187.00 and gave the stock a "buy" rating in a report on Monday, June 30th. Wells Fargo & Company lifted their price objective on shares of ARM from $145.00 to $175.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Finally, Needham & Company LLC reiterated a "hold" rating on shares of ARM in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, ARM currently has an average rating of "Moderate Buy" and an average target price of $168.52.

ARM Stock Performance

NASDAQ ARM traded down $4.06 on Friday, reaching $150.64. 3,601,431 shares of the company's stock traded hands, compared to its average volume of 3,798,668. The stock has a 50 day moving average price of $145.03 and a 200-day moving average price of $131.02. The firm has a market cap of $159.15 billion, a price-to-earnings ratio of 228.24, a P/E/G ratio of 10.07 and a beta of 4.17. ARM Holdings PLC Sponsored ADR has a fifty-two week low of $80.00 and a fifty-two week high of $182.88.

ARM (NASDAQ:ARM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.06 billion. ARM had a net margin of 16.96% and a return on equity of 15.56%. The company's revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.40 earnings per share. As a group, equities research analysts anticipate 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.