Raymond James Financial Inc. Purchases 8,980 Shares of ARM Holdings PLC Sponsored ADR $ARM

Key Points

• Raymond James Financial Inc. increased its holdings in ARM Holdings PLC by 3.4%, bringing its total to $29.23 million in value.
• ARM reported earnings of $0.35 per share for the last quarter, slightly beating analyst expectations, with revenue growing 12.1% year-over-year.
• Analysts have set a consensus price target of $169.67 for ARM, with nineteen rating it as a Buy, reflecting strong investor confidence.

Raymond James Financial Inc. boosted its stake in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 3.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 273,687 shares of the company's stock after purchasing an additional 8,980 shares during the period. Raymond James Financial Inc.'s holdings in ARM were worth $29,227,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ARM. TFC Financial Management Inc. increased its holdings in 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 purchasing an additional 165 shares during the period. 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 period. N.E.W. Advisory Services LLC acquired a new stake in ARM during the 1st quarter worth about $34,000. Colonial Trust Co SC bought a new position in shares of ARM during the 4th quarter worth about $40,000. Finally, MorganRosel Wealth Management LLC bought a new position in shares of ARM during the 1st quarter worth about $53,000. 7.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ARM has been the topic of a number of research analyst reports. UBS Group cut their price objective on shares of ARM from $185.00 to $175.00 and set a "buy" rating on the stock in a research report on Thursday, July 31st. Needham & Company LLC reissued a "hold" rating on shares of ARM in a research report on Thursday, July 31st. Loop Capital dropped their target price on shares of ARM from $195.00 to $155.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. The Goldman Sachs Group initiated coverage on shares of ARM in a research report on Thursday, July 10th. They set a "neutral" rating and a $160.00 target price on the stock. Finally, Seaport Res Ptn raised shares of ARM to a "strong-buy" rating in a research report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, ARM currently has a consensus rating of "Moderate Buy" and an average target price of $169.67.

ARM Stock Up 1.3%

Shares of NASDAQ:ARM traded up $1.89 during midday trading on Thursday, hitting $142.55. 2,874,475 shares of the stock traded hands, compared to its average volume of 5,380,239. ARM Holdings PLC Sponsored ADR has a one year low of $80.00 and a one year high of $182.88. The business's 50 day moving average is $148.32 and its two-hundred day moving average is $132.10. The stock has a market capitalization of $150.61 billion, a PE ratio of 215.98, a P/E/G ratio of 9.37 and a beta of 4.17.

ARM (NASDAQ:ARM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. The business had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $1.06 billion. ARM had a net margin of 16.96% and a return on equity of 15.56%. The business's revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.40 earnings per share. As a group, sell-side analysts forecast that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current year.

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.