Pinnacle Associates Ltd. decreased its position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 4.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 37,017 shares of the company's stock after selling 1,620 shares during the quarter. Pinnacle Associates Ltd.'s holdings in ARM were worth $3,953,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. TFC Financial Management Inc. grew its holdings in ARM by 163.4% during the 1st quarter. TFC Financial Management Inc. now owns 266 shares of the company's stock worth $28,000 after acquiring an additional 165 shares during the last quarter. GeoWealth Management LLC grew its holdings in ARM by 53.8% during the 4th quarter. GeoWealth Management LLC now owns 263 shares of the company's stock worth $32,000 after acquiring an additional 92 shares during the last quarter. Colonial Trust Co SC bought a new stake in ARM during the 4th quarter worth about $40,000. MorganRosel Wealth Management LLC bought a new stake in ARM during the 1st quarter worth about $53,000. Finally, Valley National Advisers Inc. grew its holdings in ARM by 24.5% during the 1st quarter. Valley National Advisers Inc. now owns 763 shares of the company's stock worth $81,000 after acquiring an additional 150 shares during the last quarter. Institutional investors own 7.53% of the company's stock.
ARM Price Performance
Shares of NASDAQ:ARM opened at $163.17 on Friday. The company has a market capitalization of $172.39 billion, a price-to-earnings ratio of 217.56, a P/E/G ratio of 9.23 and a beta of 4.19. The firm's 50 day simple moving average is $144.61 and its 200 day simple moving average is $134.06. ARM Holdings PLC Sponsored ADR has a fifty-two week low of $80.00 and a fifty-two week high of $182.88.
ARM (NASDAQ:ARM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.55 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.03. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.23 billion. ARM had a net margin of 19.76% and a return on equity of 17.97%. ARM's revenue for the quarter was up 33.7% on a year-over-year basis. During the same period last year, the company posted $0.36 EPS. Equities research analysts expect that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of brokerages have commented on ARM. The Goldman Sachs Group began coverage on shares of ARM in a report on Thursday, July 10th. They set a "neutral" rating and a $160.00 price objective on the stock. 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 report on Thursday, May 8th. BNP Paribas Exane raised shares of ARM from a "neutral" rating to an "outperform" rating and set a $210.00 price objective on the stock in a report on Wednesday, July 16th. Rosenblatt Securities decreased their price objective on shares of ARM from $203.00 to $180.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Finally, Citigroup cut 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. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $161.04.
Read 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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