Oak Grove Capital LLC Has $1.50 Million Stock Position in ARM Holdings PLC Sponsored ADR $ARM

Key Points

• Oak Grove Capital LLC significantly increased its stake in ARM Holdings PLC by 508.7% during the first quarter, now owning 14,000 shares valued at approximately $1.495 million.
• ARM's stock performance has seen a price range from a fifty-two week low of $80.00 to a high of $182.88, currently opening at $140.55.
• Research analysts maintain a Moderate Buy consensus rating on ARM shares, with target prices ranging from $135.00 to as high as $210.00.

Oak Grove Capital LLC lifted its position in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 508.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 14,000 shares of the company's stock after purchasing an additional 11,700 shares during the quarter. Oak Grove Capital LLC's holdings in ARM were worth $1,495,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ARM. Goldman Sachs Group Inc. lifted its position in ARM by 59.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,574,854 shares of the company's stock worth $702,129,000 after acquiring an additional 2,446,224 shares in the last quarter. Sustainable Growth Advisers LP acquired a new position in ARM during the 1st quarter worth approximately $170,287,000. Marshall Wace LLP acquired a new position in ARM during the 4th quarter worth approximately $51,901,000. American Century Companies Inc. lifted its position in ARM by 112.3% during the 1st quarter. American Century Companies Inc. now owns 703,365 shares of the company's stock worth $75,112,000 after acquiring an additional 372,081 shares in the last quarter. Finally, Banque Transatlantique SA acquired a new position in ARM during the 4th quarter worth approximately $37,440,000. 7.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on ARM shares. Rosenblatt Securities reiterated a "buy" rating and set a $180.00 target price on shares of ARM in a research note on Thursday, July 31st. Guggenheim increased their target price on ARM from $147.00 to $187.00 and gave the company a "buy" rating in a research note on Monday, June 30th. The Goldman Sachs Group started coverage on ARM in a research note on Thursday, July 10th. They set a "neutral" rating and a $160.00 target price for the company. Needham & Company LLC reiterated a "hold" rating on shares of ARM in a report on Thursday, July 31st. Finally, JPMorgan Chase & Co. lowered their price target on ARM from $175.00 to $150.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, ARM presently has an average rating of "Moderate Buy" and an average target price of $169.67.

ARM Stock Down 5.0%

NASDAQ ARM traded down $7.05 during trading hours on Tuesday, hitting $134.01. The company had a trading volume of 4,701,034 shares, compared to its average volume of 5,468,284. ARM Holdings PLC Sponsored ADR has a fifty-two week low of $80.00 and a fifty-two week high of $182.88. The business has a fifty day simple moving average of $148.97 and a 200-day simple moving average of $133.02. The firm has a market cap of $141.58 billion, a P/E ratio of 203.05, a price-to-earnings-growth ratio of 9.28 and a beta of 4.17.

ARM (NASDAQ:ARM - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. ARM had a return on equity of 15.56% and a net margin of 16.96%.The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period last year, the company earned $0.40 earnings per share. The firm's revenue for the quarter was up 12.1% on a year-over-year basis. Equities analysts forecast that ARM Holdings PLC Sponsored ADR will post 0.9 EPS 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.