Maxi Investments CY Ltd Invests $911,000 in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM)

Key Points

• Maxi Investments CY Ltd acquired 8,535 shares of ARM Holdings PLC, valued at approximately $911,000, in the first quarter, according to recent SEC filings.
• ARM is currently rated as a "Moderate Buy" by analysts, with an average target price of $167.86 despite various price adjustments made by several firms.
• In its latest earnings report, ARM reported revenue of $1.05 billion for the quarter, reflecting a 12.1% year-over-year increase, while earnings per share came in at $0.35.

Maxi Investments CY Ltd bought a new position in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 8,535 shares of the company's stock, valued at approximately $911,000.

A number of other large investors have also made changes to their positions in the stock. TFC Financial Management Inc. grew its stake in shares of ARM by 163.4% in the 1st quarter. TFC Financial Management Inc. now owns 266 shares of the company's stock valued at $28,000 after buying an additional 165 shares during the period. GeoWealth Management LLC lifted its holdings in ARM by 53.8% in the fourth quarter. GeoWealth Management LLC now owns 263 shares of the company's stock valued at $32,000 after acquiring an additional 92 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new stake in ARM during the first quarter worth $34,000. Colonial Trust Co SC purchased a new stake in ARM in the fourth quarter valued at $40,000. Finally, MorganRosel Wealth Management LLC acquired a new position in shares of ARM in the 1st quarter valued at $53,000. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ARM shares. Barclays reduced their price objective on shares of ARM from $125.00 to $115.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Bank of America lowered their price objective on shares of ARM from $144.00 to $135.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. KeyCorp reissued an "overweight" rating and issued a $190.00 target price (up previously from $175.00) on shares of ARM in a research report on Thursday, July 31st. Guggenheim lifted their price objective on ARM from $147.00 to $187.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Finally, Mizuho increased their target price on ARM from $160.00 to $180.00 and gave the stock an "outperform" rating in a research note on Thursday, July 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $167.86.

ARM Price Performance

Shares of NASDAQ:ARM traded down $1.11 during trading on Wednesday, hitting $136.12. 3,220,227 shares of the company were exchanged, compared to its average volume of 5,507,585. The firm's 50 day moving average price is $147.33 and its 200-day moving average price is $134.27. ARM Holdings PLC Sponsored ADR has a 12-month low of $80.00 and a 12-month high of $182.88. The stock has a market capitalization of $143.81 billion, a P/E ratio of 206.24, a PEG ratio of 9.17 and a beta of 4.17.

ARM (NASDAQ:ARM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.34 by $0.01. The firm 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%. ARM's quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the company earned $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 year.

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.