Prospect Hill Management LLC Grows Position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM)

Prospect Hill Management LLC raised its position in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 37.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,339 shares of the company's stock after acquiring an additional 1,738 shares during the period. ARM makes up 0.4% of Prospect Hill Management LLC's portfolio, making the stock its 14th biggest position. Prospect Hill Management LLC's holdings in ARM were worth $677,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Schroder Investment Management Group lifted its stake in shares of ARM by 17.9% in the fourth quarter. Schroder Investment Management Group now owns 3,054,331 shares of the company's stock worth $376,782,000 after acquiring an additional 464,719 shares in the last quarter. Artisan Partners Limited Partnership raised its position in shares of ARM by 48.1% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,651,489 shares of the company's stock valued at $327,088,000 after purchasing an additional 860,716 shares in the last quarter. FMR LLC boosted its stake in shares of ARM by 6.4% during the 4th quarter. FMR LLC now owns 2,199,197 shares of the company's stock valued at $271,293,000 after buying an additional 133,034 shares during the last quarter. First Trust Advisors LP grew its position in shares of ARM by 1.9% during the fourth quarter. First Trust Advisors LP now owns 888,817 shares of the company's stock worth $109,644,000 after buying an additional 16,400 shares in the last quarter. Finally, Polar Capital Holdings Plc increased its stake in shares of ARM by 11.3% in the fourth quarter. Polar Capital Holdings Plc now owns 763,939 shares of the company's stock worth $94,240,000 after buying an additional 77,420 shares during the last quarter. 7.53% of the stock is owned by institutional investors and hedge funds.

ARM Stock Performance

ARM traded down $0.44 during midday trading on Friday, reaching $156.74. The company had a trading volume of 4,865,492 shares, compared to its average volume of 6,020,399. ARM Holdings PLC Sponsored ADR has a 12-month low of $80.00 and a 12-month high of $182.88. The business has a 50-day moving average price of $141.67 and a two-hundred day moving average price of $133.33. The stock has a market cap of $165.60 billion, a PE ratio of 208.99, a P/E/G ratio of 9.04 and a beta of 4.19.

ARM (NASDAQ:ARM - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $1.24 billion for 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%. The firm's quarterly revenue was up 33.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.36 EPS. On average, research analysts anticipate that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Needham & Company LLC reiterated a "hold" rating on shares of ARM in a research report on Thursday, May 8th. Guggenheim upped their price target on ARM from $147.00 to $187.00 and gave the company a "buy" rating in a report on Monday, June 30th. Raymond James Financial reduced their price objective on ARM from $175.00 to $140.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. UBS Group lowered their price target on ARM from $215.00 to $165.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Finally, BNP Paribas Exane raised shares of ARM from a "neutral" rating to an "outperform" rating and set a $210.00 target price for the company in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $158.87.

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.