Pacific Heights Asset Management LLC Takes $22.64 Million Position in ARM Holdings PLC Sponsored ADR $ARM

Key Points

• Pacific Heights Asset Management LLC invested approximately $22.64 million in ARM Holdings PLC by acquiring 140,000 shares, making it the firm’s 15th largest holding.
• Analysts have given ARM a consensus rating of "Moderate Buy" with an average price target of $167.43, highlighting a positive shift in stock evaluations from firms like BNP Paribas and Mizuho.
• For the most recent quarter, ARM reported earnings of $0.35 EPS, surpassing expectations and showing a revenue increase of 12.1% compared to the same quarter last year.

Pacific Heights Asset Management LLC bought a new stake in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 140,000 shares of the company's stock, valued at approximately $22,644,000. ARM makes up about 1.2% of Pacific Heights Asset Management LLC's holdings, making the stock its 15th biggest holding.

Other large investors have also modified their holdings of the company. TFC Financial Management Inc. grew its stake in shares of ARM by 163.4% in the first quarter. TFC Financial Management Inc. now owns 266 shares of the company's stock valued at $28,000 after buying an additional 165 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of ARM in the first quarter valued at about $28,000. N.E.W. Advisory Services LLC acquired a new stake in shares of ARM in the first quarter valued at about $34,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of ARM in the second quarter valued at about $39,000. Finally, ORG Partners LLC acquired a new stake in shares of ARM in the second quarter valued at about $48,000. Institutional investors and hedge funds own 7.53% of the company's stock.

Analysts Set New Price Targets

ARM has been the subject of a number of analyst reports. Needham & Company LLC reissued a "hold" rating on shares of ARM in a report on Thursday, July 31st. BNP Paribas raised ARM from a "neutral" rating to an "outperform" rating and increased their price target for the company from $110.00 to $210.00 in a report on Wednesday, July 16th. BNP Paribas Exane raised ARM from a "neutral" rating to an "outperform" rating and set a $210.00 price target for the company in a report on Wednesday, July 16th. Mizuho increased their price target on ARM from $160.00 to $180.00 and gave the company an "outperform" rating in a report on Thursday, July 3rd. Finally, KeyCorp reissued an "overweight" rating and issued a $190.00 price target (up previously from $175.00) on shares of ARM in a report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, ARM presently has a consensus rating of "Moderate Buy" and an average price target of $167.43.

ARM Stock Down 1.2%

NASDAQ:ARM opened at $169.38 on Wednesday. The business's 50 day moving average is $148.13 and its two-hundred day moving average is $138.38. ARM Holdings PLC Sponsored ADR has a 52 week low of $80.00 and a 52 week high of $182.88. The company has a market cap of $178.95 billion, a PE ratio of 256.64, a P/E/G ratio of 11.18 and a beta of 4.10.

ARM (NASDAQ:ARM - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. ARM had a return on equity of 15.56% and a net margin of 16.96%.The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter last year, the business posted $0.40 EPS. ARM's quarterly 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 EPS for the current fiscal year.

ARM 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.

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