Robertson Stephens Wealth Management LLC Makes New $368,000 Investment in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM)

Robertson Stephens Wealth Management LLC bought a new position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund bought 3,450 shares of the company's stock, valued at approximately $368,000.

Other hedge funds have also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its position in ARM by 5.4% in the fourth quarter. Bank of New York Mellon Corp now owns 105,300 shares of the company's stock worth $12,990,000 after acquiring an additional 5,440 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of ARM by 0.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 43,124 shares of the company's stock worth $5,320,000 after purchasing an additional 353 shares during the period. Fisher Asset Management LLC increased its position in shares of ARM by 81.5% during the 4th quarter. Fisher Asset Management LLC now owns 3,008 shares of the company's stock valued at $371,000 after purchasing an additional 1,351 shares during the last quarter. Geode Capital Management LLC increased its position in shares of ARM by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 108,531 shares of the company's stock valued at $13,388,000 after purchasing an additional 848 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in ARM by 5.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,551 shares of the company's stock valued at $1,302,000 after buying an additional 559 shares during the period. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on ARM shares. Morgan Stanley dropped their price objective on shares of ARM from $175.00 to $150.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. Bank of America dropped their target price on ARM from $144.00 to $135.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Barclays reduced their target price on ARM from $125.00 to $115.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Guggenheim lowered their target price on shares of ARM from $180.00 to $147.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Finally, Loop Capital reduced their price target on shares of ARM from $195.00 to $155.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $152.76.

ARM Trading Up 0.9%

Shares of ARM opened at $146.05 on Friday. The firm has a market cap of $154.70 billion, a PE ratio of 194.73, a P/E/G ratio of 6.71 and a beta of 4.08. ARM Holdings PLC Sponsored ADR has a 12 month low of $80.00 and a 12 month high of $188.75. The stock has a fifty day moving average price of $123.87 and a 200-day moving average price of $130.90.

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

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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