Morse Asset Management Inc increased its stake in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 674.9% during the first quarter, according to its most recent filing with the SEC. The fund owned 15,761 shares of the company's stock after buying an additional 13,727 shares during the quarter. Morse Asset Management Inc's holdings in ARM were worth $1,683,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. TFC Financial Management Inc. boosted its holdings in shares of ARM by 163.4% in the 1st quarter. TFC Financial Management Inc. now owns 266 shares of the company's stock worth $28,000 after buying an additional 165 shares during the last quarter. GeoWealth Management LLC boosted its holdings in shares of ARM by 53.8% in the 4th quarter. GeoWealth Management LLC now owns 263 shares of the company's stock worth $32,000 after buying an additional 92 shares during the last quarter. Colonial Trust Co SC purchased a new position in shares of ARM in the fourth quarter worth about $40,000. MorganRosel Wealth Management LLC purchased a new position in shares of ARM in the first quarter worth about $53,000. Finally, Valley National Advisers Inc. increased its stake in shares of ARM by 24.5% in the first quarter. Valley National Advisers Inc. now owns 763 shares of the company's stock worth $81,000 after purchasing an additional 150 shares in the last quarter. 7.53% of the stock is owned by hedge funds and other institutional investors.
ARM Stock Down 0.3%
Shares of ARM stock opened at $156.74 on Friday. The stock's fifty day moving average is $141.67 and its two-hundred day moving average is $133.33. The company has a market capitalization of $165.60 billion, a PE ratio of 208.99, a price-to-earnings-growth ratio of 9.04 and a beta of 4.19. ARM Holdings PLC Sponsored ADR has a 52 week low of $80.00 and a 52 week high of $182.88.
ARM (NASDAQ:ARM - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.52 by $0.03. ARM had a return on equity of 17.97% and a net margin of 19.76%. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the prior year, the company earned $0.36 EPS. The business's revenue was up 33.7% compared to the same quarter last year. As a group, research analysts anticipate that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current year.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the stock. BNP Paribas raised shares of ARM from a "neutral" rating to a "strong-buy" rating and increased their price target for the stock from $110.00 to $210.00 in a report on Wednesday. KeyCorp decreased their price objective on shares of ARM from $195.00 to $175.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Bank of America decreased their price objective 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. TD Cowen reduced their price target on shares of ARM from $200.00 to $155.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Finally, Morgan Stanley cut their target price on shares of ARM from $175.00 to $150.00 and set an "overweight" rating on the stock in a report on Friday, March 28th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $158.87.
Check Out Our Latest Stock Analysis on ARM
ARM Company Profile
(
Free Report)
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.
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