PFG Investments LLC Buys 3,759 Shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM)

PFG Investments LLC raised its stake in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 20.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,953 shares of the company's stock after purchasing an additional 3,759 shares during the quarter. PFG Investments LLC's holdings in ARM were worth $2,344,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Van ECK Associates Corp raised its position in shares of ARM by 259.7% in the 4th quarter. Van ECK Associates Corp now owns 9,761 shares of the company's stock worth $1,204,000 after acquiring an additional 7,047 shares in the last quarter. Principal Securities Inc. grew its stake in ARM by 6.3% in the fourth quarter. Principal Securities Inc. now owns 4,384 shares of the company's stock worth $541,000 after purchasing an additional 261 shares during the period. Allworth Financial LP raised its holdings in ARM by 94.5% in the fourth quarter. Allworth Financial LP now owns 1,023 shares of the company's stock worth $126,000 after purchasing an additional 497 shares in the last quarter. CIBC Asset Management Inc raised its holdings in ARM by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 21,643 shares of the company's stock worth $2,670,000 after purchasing an additional 1,058 shares in the last quarter. Finally, Truist Financial Corp purchased a new position in ARM during the fourth quarter valued at $504,000. 7.53% of the stock is currently owned by institutional investors.

ARM Trading Down 0.7%

Shares of ARM opened at $145.04 on Friday. The firm has a market cap of $153.64 billion, a PE ratio of 193.39, a P/E/G ratio of 6.66 and a beta of 4.08. ARM Holdings PLC Sponsored ADR has a 1-year low of $80.00 and a 1-year high of $188.75. The firm has a fifty day simple moving average of $124.70 and a two-hundred day simple moving average of $130.86.

ARM (NASDAQ:ARM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.03. The company had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.23 billion. ARM had a return on equity of 17.97% and a net margin of 19.76%. ARM's revenue for the quarter was up 33.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.36 earnings per share. As a group, research analysts forecast that ARM Holdings PLC Sponsored ADR will post 0.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ARM has been the topic of a number of recent research reports. Morgan Stanley reduced their target price on shares of ARM from $175.00 to $150.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. JPMorgan Chase & Co. cut their price objective on shares of ARM from $175.00 to $150.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. KeyCorp lowered their target price on shares of ARM from $195.00 to $175.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Guggenheim dropped their price target on ARM from $180.00 to $147.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Finally, Barclays reduced their price objective on ARM from $125.00 to $115.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, ARM currently has a consensus rating of "Moderate Buy" and a consensus target price of $152.76.

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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