McElhenny Sheffield Capital Management LLC Makes New Investment in ARM Holdings PLC Sponsored ADR $ARM

Key Points

• McElhenny Sheffield Capital Management LLC invested approximately $392,000 in ARM Holdings PLC by acquiring 2,231 shares during the 2nd quarter.
• Several analysts have upgraded their ratings on ARM, with BNP Paribas increasing its price target from $110.00 to $210.00 and numerous others also raising their price expectations.
• ARM Holdings reported earnings per share (EPS) of $0.35 for the last quarter, slightly exceeding analyst expectations, with a year-over-year revenue increase of 12.1%.

McElhenny Sheffield Capital Management LLC bought a new position in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,231 shares of the company's stock, valued at approximately $392,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Park Avenue Securities LLC lifted its holdings in shares of ARM by 45.3% in the first quarter. Park Avenue Securities LLC now owns 5,217 shares of the company's stock valued at $557,000 after purchasing an additional 1,627 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of ARM by 85.7% in the first quarter. Farther Finance Advisors LLC now owns 1,616 shares of the company's stock valued at $173,000 after purchasing an additional 746 shares in the last quarter. GPS Wealth Strategies Group LLC lifted its holdings in shares of ARM by 1.3% in the first quarter. GPS Wealth Strategies Group LLC now owns 22,467 shares of the company's stock valued at $2,399,000 after purchasing an additional 296 shares in the last quarter. Baker Chad R purchased a new stake in shares of ARM in the first quarter valued at about $1,298,000. Finally, RFG Holdings Inc. lifted its holdings in shares of ARM by 57.0% in the first quarter. RFG Holdings Inc. now owns 4,279 shares of the company's stock valued at $457,000 after purchasing an additional 1,554 shares in the last quarter. 7.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ARM shares. BNP Paribas raised shares of ARM from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $110.00 to $210.00 in a research note on Wednesday, July 16th. Raymond James Financial upped their price objective on shares of ARM from $140.00 to $165.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Evercore ISI upped their price objective on shares of ARM from $173.00 to $178.00 and gave the company an "outperform" rating in a research note on Thursday, September 11th. KeyCorp reissued an "overweight" rating and set a $190.00 price objective (up previously from $175.00) on shares of ARM in a research note on Thursday, July 31st. Finally, Guggenheim upped their price objective on shares of ARM from $147.00 to $187.00 and gave the company a "buy" rating in a research note on Monday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $167.43.

ARM Price Performance

ARM stock opened at $170.66 on Friday. ARM Holdings PLC Sponsored ADR has a 12-month low of $80.00 and a 12-month high of $182.88. The company has a market capitalization of $180.30 billion, a price-to-earnings ratio of 258.58, a price-to-earnings-growth ratio of 10.14 and a beta of 4.10. The firm's fifty day moving average price is $143.43 and its 200 day moving average price is $134.83.

ARM (NASDAQ:ARM - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.35 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the firm posted $0.40 EPS. The firm's quarterly revenue was up 12.1% on a year-over-year basis. Analysts forecast that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current fiscal year.

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.

Want to see what other hedge funds are holding ARM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.