ARM Holdings PLC Sponsored ADR $ARM Stake Lessened by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC has reduced its stake in ARM Holdings by 34.4%, bringing their total holdings to 25,321 shares valued at approximately $2.70 million.
• ARM Holdings reported earnings of $0.35 per share for the last quarter, surpassing analysts' expectations of $0.34, while revenue was $1.05 billion, slightly below the expected $1.06 billion.
• Analysts maintain a consensus rating of "Moderate Buy" for ARM, with a target price averaging around $169.67, indicating positive sentiment around the stock.

HighTower Advisors LLC decreased its stake in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 34.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,321 shares of the company's stock after selling 13,281 shares during the period. HighTower Advisors LLC's holdings in ARM were worth $2,704,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Invesco Ltd. lifted its position in shares of ARM by 9.5% during the first quarter. Invesco Ltd. now owns 576,020 shares of the company's stock worth $61,513,000 after purchasing an additional 49,805 shares during the last quarter. AFT Forsyth & Company Inc. raised its stake in ARM by 2.5% during the first quarter. AFT Forsyth & Company Inc. now owns 16,351 shares of the company's stock worth $1,746,000 after acquiring an additional 400 shares during the period. Pandora Wealth Inc. acquired a new stake in ARM during the first quarter worth about $53,000. Cynosure Group LLC raised its stake in ARM by 26.1% during the first quarter. Cynosure Group LLC now owns 2,765 shares of the company's stock worth $295,000 after acquiring an additional 572 shares during the period. Finally, Townsquare Capital LLC raised its stake in ARM by 1,472.9% during the first quarter. Townsquare Capital LLC now owns 66,975 shares of the company's stock worth $7,152,000 after acquiring an additional 62,717 shares during the period. Institutional investors own 7.53% of the company's stock.

ARM Stock Performance

Shares of NASDAQ:ARM traded up $4.64 during trading hours on Friday, hitting $137.92. The stock had a trading volume of 4,038,830 shares, compared to its average volume of 5,256,072. The stock's fifty day simple moving average is $148.60 and its 200 day simple moving average is $132.69. ARM Holdings PLC Sponsored ADR has a 1-year low of $80.00 and a 1-year high of $182.88. The firm has a market capitalization of $145.71 billion, a price-to-earnings ratio of 143.67, a PEG ratio of 9.22 and a beta of 4.17.

ARM (NASDAQ:ARM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. The business had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $1.06 billion. ARM had a net margin of 16.96% and a return on equity of 15.56%. The business's revenue was up 12.1% on a year-over-year basis. During the same period last year, the firm posted $0.40 earnings per share. As a group, research analysts anticipate that ARM Holdings PLC Sponsored ADR will post 0.9 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ARM. Loop Capital dropped their price objective on shares of ARM from $195.00 to $155.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Wells Fargo & Company increased 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. BNP Paribas Exane upgraded shares of ARM from a "neutral" rating to an "outperform" rating and set a $210.00 price objective on the stock in a research note on Wednesday, July 16th. Barclays dropped their price objective on shares of ARM from $125.00 to $115.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Finally, Guggenheim increased their price objective on shares of ARM from $147.00 to $187.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, ARM currently has an average rating of "Moderate Buy" and an average price target of $169.67.

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.