Southern Capital Advisors LLC Purchases New Position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM)

Southern Capital Advisors LLC acquired a new stake in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 15,101 shares of the company's stock, valued at approximately $1,613,000. ARM comprises about 0.9% of Southern Capital Advisors LLC's investment portfolio, making the stock its 24th biggest holding.

Several other institutional investors and hedge funds have also recently bought and sold shares of ARM. Bank of New York Mellon Corp lifted 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 purchasing an additional 5,440 shares during the period. Sowell Financial Services LLC acquired a new stake in shares of ARM in the first quarter valued at $229,000. Envestnet Asset Management Inc. boosted its stake in ARM by 0.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 43,124 shares of the company's stock valued at $5,320,000 after buying an additional 353 shares in the last quarter. Fisher Asset Management LLC grew its holdings in ARM by 81.5% during the fourth quarter. Fisher Asset Management LLC now owns 3,008 shares of the company's stock worth $371,000 after acquiring an additional 1,351 shares during the period. Finally, Geode Capital Management LLC raised its position in ARM by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 108,531 shares of the company's stock worth $13,388,000 after acquiring an additional 848 shares in the last quarter. Institutional investors own 7.53% of the company's stock.

ARM Stock Up 0.6%

Shares of ARM stock traded up $0.87 during mid-day trading on Wednesday, reaching $157.28. The stock had a trading volume of 4,289,026 shares, compared to its average volume of 6,285,437. ARM Holdings PLC Sponsored ADR has a one year low of $80.00 and a one year high of $188.75. The firm has a market cap of $166.60 billion, a PE ratio of 209.70, a P/E/G ratio of 6.86 and a beta of 4.08. The firm's 50 day simple moving average is $126.63 and its 200 day simple moving average is $131.04.

ARM (NASDAQ:ARM - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.52 by $0.03. ARM had a return on equity of 17.97% and a net margin of 19.76%. The firm 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 earned $0.36 earnings per share. ARM's quarterly revenue was up 33.7% compared to the same quarter last year. Sell-side analysts forecast that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. KeyCorp cut their target price on ARM from $195.00 to $175.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Morgan Stanley cut their target price on shares of ARM from $175.00 to $150.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. Raymond James Financial decreased their target price on ARM from $175.00 to $140.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. Bank of America dropped their price target on ARM from $144.00 to $135.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Finally, TD Cowen decreased their price objective on ARM from $200.00 to $155.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, ARM currently has an average rating of "Moderate Buy" and a consensus target price of $152.76.

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.