Monetta Financial Services Inc. Invests $534,000 in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM)

Key Points

• Monetta Financial Services Inc. acquired 5,000 shares of ARM Holdings PLC valued at approximately $534,000 during the first quarter, marking a new investment in the company.
• ARM reported an earnings per share (EPS) of $0.35 for its last quarter, surpassing analysts' estimates of $0.34, with a year-over-year revenue increase of 12.1%.
• Several analysts have adjusted their price targets for ARM, with Citigroup lowering its target to $170 and Wells Fargo increasing it to $175, while the stock currently holds a consensus rating of "Moderate Buy."

Monetta Financial Services Inc. purchased a new position in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 5,000 shares of the company's stock, valued at approximately $534,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of ARM by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 108,531 shares of the company's stock worth $13,388,000 after acquiring an additional 848 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of ARM by 0.3% in the fourth quarter. Wells Fargo & Company MN now owns 335,721 shares of the company's stock worth $41,414,000 after acquiring an additional 1,160 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of ARM by 0.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 43,124 shares of the company's stock worth $5,320,000 after acquiring an additional 353 shares during the last quarter. FMR LLC boosted its position in shares of ARM by 6.4% in the fourth quarter. FMR LLC now owns 2,199,197 shares of the company's stock worth $271,293,000 after acquiring an additional 133,034 shares during the last quarter. Finally, Cerity Partners LLC boosted its position in shares of ARM by 2.5% in the fourth quarter. Cerity Partners LLC now owns 12,313 shares of the company's stock worth $1,522,000 after acquiring an additional 300 shares during the last quarter. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

ARM Stock Up 2.2%

Shares of NASDAQ ARM traded up $2.93 during trading on Friday, reaching $138.50. 3,473,779 shares of the stock were exchanged, compared to its average volume of 5,508,053. The business's 50-day moving average price is $147.79 and its 200 day moving average price is $134.07. The company has a market capitalization of $146.33 billion, a price-to-earnings ratio of 209.85, a price-to-earnings-growth ratio of 9.06 and a beta of 4.17. ARM Holdings PLC Sponsored ADR has a twelve month low of $80.00 and a twelve month high of $182.88.

ARM (NASDAQ:ARM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analyst estimates of $1.06 billion. During the same quarter in the previous year, the firm earned $0.40 earnings per share. The business's revenue was up 12.1% compared to the same quarter last year. As a group, sell-side analysts expect that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ARM has been the topic of several research analyst reports. Citigroup decreased their target price on shares of ARM from $200.00 to $170.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. KeyCorp reaffirmed an "overweight" rating and set a $190.00 price target (up from $175.00) on shares of ARM in a research report on Thursday, July 31st. Bank of America reduced their price target on shares of ARM from $144.00 to $135.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Needham & Company LLC reaffirmed a "hold" rating on shares of ARM in a research report on Thursday, July 31st. Finally, BNP Paribas raised shares of ARM from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $110.00 to $210.00 in a research report on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, ARM has an average rating of "Moderate Buy" and an average price target of $169.67.

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.