Triumph Capital Management Takes $673,000 Position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM)

Triumph Capital Management purchased a new position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,300 shares of the company's stock, valued at approximately $673,000.

A number of other institutional investors also recently added to or reduced their stakes in ARM. TFC Financial Management Inc. lifted its stake in ARM by 163.4% in the first quarter. TFC Financial Management Inc. now owns 266 shares of the company's stock worth $28,000 after acquiring an additional 165 shares during the last quarter. GeoWealth Management LLC lifted its stake in ARM by 53.8% in the fourth quarter. GeoWealth Management LLC now owns 263 shares of the company's stock worth $32,000 after acquiring an additional 92 shares during the last quarter. Colonial Trust Co SC purchased a new position in ARM in the fourth quarter worth approximately $40,000. MorganRosel Wealth Management LLC purchased a new position in ARM in the first quarter worth approximately $53,000. Finally, Valley National Advisers Inc. lifted its stake in ARM by 24.5% in the first quarter. Valley National Advisers Inc. now owns 763 shares of the company's stock worth $81,000 after acquiring an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 7.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Rosenblatt Securities cut their price objective on shares of ARM from $203.00 to $180.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Loop Capital cut their price objective on shares of ARM from $195.00 to $155.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Guggenheim raised their price objective on shares of ARM from $147.00 to $187.00 and gave the stock a "buy" rating in a report on Monday, June 30th. Bank of America cut their price objective on shares of ARM from $144.00 to $135.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Finally, KGI Securities started coverage on shares of ARM in a report on Tuesday, April 15th. They set a "neutral" rating on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $161.04.

ARM Stock Performance

Shares of NASDAQ ARM traded up $3.18 during trading hours on Friday, reaching $163.17. 3,144,893 shares of the stock were exchanged, compared to its average volume of 4,651,463. The stock's fifty day simple moving average is $144.61 and its 200 day simple moving average is $134.06. ARM Holdings PLC Sponsored ADR has a 52 week low of $80.00 and a 52 week high of $182.88. The firm has a market capitalization of $172.39 billion, a price-to-earnings ratio of 217.56, a P/E/G ratio of 9.23 and a beta of 4.19.

ARM (NASDAQ:ARM - Get Free Report) last issued its quarterly earnings results 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. ARM had a return on equity of 17.97% and a net margin of 19.76%. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter last year, the company posted $0.36 EPS. The company's revenue for the quarter was up 33.7% compared to the same quarter last year. Research analysts predict that ARM Holdings PLC Sponsored ADR will post 0.9 EPS 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.