23,754 Shares in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) Purchased by Robocap Asset Management Ltd

Robocap Asset Management Ltd acquired a new stake in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 23,754 shares of the company's stock, valued at approximately $2,537,000. ARM accounts for 1.9% of Robocap Asset Management Ltd's holdings, making the stock its 21st biggest holding.

Several other large investors have also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its stake in shares of ARM by 5.4% during the 4th quarter. Bank of New York Mellon Corp now owns 105,300 shares of the company's stock worth $12,990,000 after purchasing an additional 5,440 shares during the last quarter. Sowell Financial Services LLC acquired a new position in ARM during the first quarter worth $229,000. Envestnet Asset Management Inc. increased its position in ARM by 0.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 43,124 shares of the company's stock worth $5,320,000 after buying an additional 353 shares during the last quarter. Geode Capital Management LLC increased its position in ARM by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 108,531 shares of the company's stock worth $13,388,000 after buying an additional 848 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in ARM by 5.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,551 shares of the company's stock worth $1,302,000 after buying an additional 559 shares during the last quarter. Institutional investors and hedge funds own 7.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on ARM. JPMorgan Chase & Co. lowered their target price on shares of ARM from $175.00 to $150.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Raymond James Financial lowered their target price on shares of ARM from $175.00 to $140.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Wells Fargo & Company lowered their target price on shares of ARM from $150.00 to $145.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. KeyCorp lowered their price target on ARM from $195.00 to $175.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Finally, Benchmark restated a "hold" rating on shares of ARM in a research note on Monday, June 9th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $154.67.

ARM Stock Up 1.0%

ARM traded up $1.55 during trading on Wednesday, hitting $149.34. The company's stock had a trading volume of 2,266,806 shares, compared to its average volume of 6,136,638. The firm's 50 day moving average price is $136.71 and its two-hundred day moving average price is $132.08. 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 market capitalization of $158.19 billion, a price-to-earnings ratio of 199.19, a price-to-earnings-growth ratio of 6.74 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, beating the consensus estimate of $0.52 by $0.03. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.23 billion. ARM had a return on equity of 17.97% and a net margin of 19.76%. The business's revenue for the quarter was up 33.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS. On average, sell-side analysts forecast that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current year.

About ARM

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.