Rafferty Asset Management LLC Has $41.33 Million Holdings in ARM Holdings PLC Sponsored ADR $ARM

Key Points

• Rafferty Asset Management LLC reduced its stake in ARM Holdings by 5.1%, selling 20,642 shares to hold a total of 387,011 shares worth approximately $41.3 million.
• Several institutional investors have recently increased their positions in ARM, with TFC Financial Management raising their stake by over 163% in the first quarter.
• ARM has received a majority of positive ratings from analysts, with a consensus rating of "Moderate Buy" and a target price of $169.67.

Rafferty Asset Management LLC decreased its holdings in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 5.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 387,011 shares of the company's stock after selling 20,642 shares during the quarter. Rafferty Asset Management LLC's holdings in ARM were worth $41,329,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. OneDigital Investment Advisors LLC grew its position in ARM by 30.3% in the 4th quarter. OneDigital Investment Advisors LLC now owns 2,027 shares of the company's stock valued at $250,000 after buying an additional 471 shares in the last quarter. Stifel Financial Corp boosted its holdings in shares of ARM by 7.6% in the fourth quarter. Stifel Financial Corp now owns 44,315 shares of the company's stock valued at $5,467,000 after acquiring an additional 3,145 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of ARM by 228.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,000 shares of the company's stock valued at $1,234,000 after acquiring an additional 6,959 shares in the last quarter. Northern Trust Corp increased its stake in shares of ARM by 52.5% during the fourth quarter. Northern Trust Corp now owns 3,992 shares of the company's stock valued at $492,000 after acquiring an additional 1,375 shares during the period. Finally, Lido Advisors LLC raised its holdings in ARM by 23.5% during the fourth quarter. Lido Advisors LLC now owns 2,264 shares of the company's stock worth $279,000 after purchasing an additional 431 shares in the last quarter. 7.53% of the stock is owned by institutional investors and hedge funds.

ARM Trading Up 1.3%

NASDAQ ARM traded up $1.89 on Thursday, reaching $142.55. The stock had a trading volume of 2,874,475 shares, compared to its average volume of 5,021,857. ARM Holdings PLC Sponsored ADR has a 1 year low of $80.00 and a 1 year high of $182.88. The business has a 50 day moving average price of $148.24 and a 200 day moving average price of $131.98. The company has a market capitalization of $150.61 billion, a price-to-earnings ratio of 215.98, a P/E/G ratio of 9.40 and a beta of 4.17.

ARM (NASDAQ:ARM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. The business had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $1.06 billion. ARM had a return on equity of 15.56% and a net margin of 16.96%.The firm's quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.40 EPS. On average, analysts anticipate that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

ARM has been the subject of a number of research reports. Wells Fargo & Company increased their price target on ARM from $145.00 to $175.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. BNP Paribas Exane raised 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, July 16th. Raymond James Financial lifted their target price on ARM from $140.00 to $165.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Rosenblatt Securities reissued a "buy" rating and issued a $180.00 price target on shares of ARM in a report on Thursday, July 31st. Finally, UBS Group reduced their price objective on shares of ARM from $185.00 to $175.00 and set a "buy" rating for the company in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, ARM presently has a consensus rating of "Moderate Buy" and an average price target of $169.67.

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.