Townsquare Capital LLC Grows Holdings in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM)

Key Points

• Townsquare Capital LLC significantly increased its holdings in ARM Holdings by 1,472.9% in the first quarter, now owning 66,975 shares valued at approximately $7.15 million.
• Prominent investors like Goldman Sachs and Sustainable Growth Advisers have also adjusted their positions in ARM, with Goldman Sachs increasing its holdings by 59.3%.
• Analyst sentiment on ARM is generally positive, with 19 buy ratings, resulting in an average target price of $169.67, even though some firms have lowered their price targets.

Townsquare Capital LLC raised its position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 1,472.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 66,975 shares of the company's stock after buying an additional 62,717 shares during the period. Townsquare Capital LLC's holdings in ARM were worth $7,152,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Goldman Sachs Group Inc. increased its holdings in shares of ARM by 59.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,574,854 shares of the company's stock valued at $702,129,000 after acquiring an additional 2,446,224 shares during the last quarter. Sustainable Growth Advisers LP acquired a new stake in ARM during the first quarter worth about $170,287,000. Marshall Wace LLP bought a new position in ARM in the fourth quarter worth about $51,901,000. Banque Transatlantique SA bought a new position in ARM in the fourth quarter worth about $37,440,000. Finally, Raymond James Financial Inc. acquired a new position in ARM in the fourth quarter valued at approximately $32,655,000. 7.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ARM shares. KGI Securities initiated coverage on ARM in a research report on Tuesday, April 15th. They issued a "neutral" rating on the stock. Loop Capital lowered their price target on ARM from $195.00 to $155.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Barclays reduced their price objective on shares of ARM from $125.00 to $115.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. The Goldman Sachs Group began coverage on shares of ARM in a research note on Thursday, July 10th. They set a "neutral" rating and a $160.00 target price on the stock. Finally, Mizuho boosted their price target on shares of ARM from $160.00 to $180.00 and gave the stock an "outperform" rating in a research report on Thursday, July 3rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, ARM presently has an average rating of "Moderate Buy" and an average price target of $169.67.

ARM Trading Up 2.2%

Shares of ARM opened at $138.50 on Friday. The stock has a 50 day simple moving average of $147.79 and a 200-day simple moving average of $133.75. ARM Holdings PLC Sponsored ADR has a 1 year low of $80.00 and a 1 year high of $182.88. The stock has a market cap of $146.33 billion, a PE ratio of 209.85, a PEG ratio of 9.26 and a beta of 4.17.

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

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