Stratos Wealth Partners LTD. Raises Position in ARM Holdings PLC Sponsored ADR $ARM

Key Points

• Stratos Wealth Partners LTD. increased its stake in ARM Holdings PLC by 161.8%, owning 10,747 shares valued at $1,738,000 after acquiring an additional 6,642 shares in the second quarter.
• Various institutional investors have also increased their holdings in ARM, with Defender Capital LLC purchasing a new position valued at approximately $17.3 million during the same period.
• Research firms have recently revised their target prices for ARM, with Guggenheim raising it from $147 to $187, indicating strong market confidence in the stock.

Stratos Wealth Partners LTD. raised its stake in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 161.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,747 shares of the company's stock after purchasing an additional 6,642 shares during the quarter. Stratos Wealth Partners LTD.'s holdings in ARM were worth $1,738,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. WealthPLAN Partners LLC raised its stake in shares of ARM by 23.8% in the second quarter. WealthPLAN Partners LLC now owns 5,051 shares of the company's stock worth $817,000 after purchasing an additional 970 shares during the last quarter. WJ Wealth Management LLC bought a new position in shares of ARM in the second quarter valued at approximately $251,000. Rheos Capital Works Inc. bought a new position in shares of ARM in the second quarter valued at approximately $21,026,000. Dock Street Asset Management Inc. grew its holdings in shares of ARM by 49.0% in the second quarter. Dock Street Asset Management Inc. now owns 225,452 shares of the company's stock valued at $36,465,000 after acquiring an additional 74,131 shares in the last quarter. Finally, Defender Capital LLC. bought a new position in shares of ARM in the second quarter valued at approximately $17,304,000. 7.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ARM. Guggenheim upped their target price on ARM from $147.00 to $187.00 and gave the company a "buy" rating in a report on Monday, June 30th. Mizuho upped their target price on ARM from $160.00 to $180.00 and gave the company an "outperform" rating in a report on Thursday, July 3rd. UBS Group reduced their target price on ARM from $185.00 to $175.00 and set a "buy" rating for the company in a report on Thursday, July 31st. Morgan Stanley reduced their target price on ARM from $180.00 to $171.00 and set an "overweight" rating for the company in a report on Thursday, October 9th. Finally, Seaport Res Ptn raised ARM to a "strong-buy" rating in a report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $167.43.

ARM Price Performance

ARM stock opened at $171.50 on Tuesday. The firm has a market capitalization of $181.19 billion, a P/E ratio of 259.85, a PEG ratio of 10.80 and a beta of 4.10. ARM Holdings PLC Sponsored ADR has a one year low of $80.00 and a one year high of $182.88. The business has a fifty day moving average price of $147.59 and a 200-day moving average price of $138.16.

ARM (NASDAQ:ARM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.06 billion. ARM had a return on equity of 15.56% and a net margin of 16.96%.The firm's quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the company earned $0.40 earnings per share. Sell-side analysts expect that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current fiscal 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.