Sowell Financial Services LLC Purchases New Position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM)

Sowell Financial Services LLC bought a new position in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 2,147 shares of the company's stock, valued at approximately $229,000.

Other institutional investors also recently modified their holdings of the company. Tufton Capital Management raised its stake in ARM by 1.5% during the 4th quarter. Tufton Capital Management now owns 4,425 shares of the company's stock worth $546,000 after buying an additional 65 shares during the period. GeoWealth Management LLC grew its stake in ARM by 53.8% in the fourth quarter. GeoWealth Management LLC now owns 263 shares of the company's stock valued at $32,000 after acquiring an additional 92 shares during the period. Cibc World Markets Corp increased its holdings in shares of ARM by 3.5% in the fourth quarter. Cibc World Markets Corp now owns 2,838 shares of the company's stock worth $350,000 after acquiring an additional 96 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its position in shares of ARM by 2.0% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 4,929 shares of the company's stock worth $608,000 after purchasing an additional 96 shares during the period. Finally, Viawealth LLC lifted its holdings in shares of ARM by 4.8% during the 4th quarter. Viawealth LLC now owns 2,200 shares of the company's stock valued at $271,000 after purchasing an additional 100 shares in the last quarter. 7.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on ARM. KGI Securities assumed coverage on shares of ARM in a report on Tuesday, April 15th. They set a "neutral" rating on the stock. Benchmark restated a "hold" rating on shares of ARM in a report on Monday, June 9th. UBS Group reduced their target price on shares of ARM from $215.00 to $165.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Loop Capital lowered their target price on ARM from $195.00 to $155.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. dropped their price target on ARM from $175.00 to $150.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $152.76.

ARM Stock Performance

ARM stock traded up $0.84 during midday trading on Thursday, reaching $158.15. 4,513,858 shares of the company's stock were exchanged, compared to its average volume of 6,241,753. The stock's 50-day simple moving average is $128.91 and its 200 day simple moving average is $131.35. The firm has a market cap of $167.52 billion, a price-to-earnings ratio of 210.87, a P/E/G ratio of 7.22 and a beta of 4.08. ARM Holdings PLC Sponsored ADR has a 52 week low of $80.00 and a 52 week high of $188.75.

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 company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the company posted $0.36 EPS. The firm's revenue for the quarter was up 33.7% compared to the same quarter last year. Research 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.