Westwood Wealth Management Raises Holdings in ARM Holdings PLC Sponsored ADR $ARM

Key Points

• Westwood Wealth Management increased its stake in ARM Holdings PLC by 88.7% during the first quarter, owning 18,350 shares valued at approximately $1.96 million.
• Several other hedge funds also boosted their positions in ARM, with notable increases including Goldman Sachs raising its stake by 59.3% to nearly 6.6 million shares.
• ARM recently reported a $0.35 EPS, exceeding analysts' expectations, with revenue of $1.05 billion for the quarter, marking a 12.1% increase year-over-year.

Westwood Wealth Management raised its stake in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 88.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,350 shares of the company's stock after purchasing an additional 8,625 shares during the quarter. ARM comprises about 0.8% of Westwood Wealth Management's investment portfolio, making the stock its 18th biggest position. Westwood Wealth Management's holdings in ARM were worth $1,960,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised its position in ARM by 59.3% in the first quarter. Goldman Sachs Group Inc. now owns 6,574,854 shares of the company's stock valued at $702,129,000 after purchasing an additional 2,446,224 shares during the period. Sustainable Growth Advisers LP purchased a new position in ARM in the first quarter valued at about $170,287,000. Polar Capital Holdings Plc raised its position in ARM by 11.3% in the fourth quarter. Polar Capital Holdings Plc now owns 763,939 shares of the company's stock valued at $94,240,000 after purchasing an additional 77,420 shares during the period. American Century Companies Inc. raised its position in ARM by 112.3% in the first quarter. American Century Companies Inc. now owns 703,365 shares of the company's stock valued at $75,112,000 after purchasing an additional 372,081 shares during the period. Finally, Invesco Ltd. raised its position in ARM by 9.5% in the first quarter. Invesco Ltd. now owns 576,020 shares of the company's stock valued at $61,513,000 after purchasing an additional 49,805 shares during the period. 7.53% of the stock is owned by hedge funds and other institutional investors.

ARM Stock Performance

NASDAQ:ARM opened at $137.92 on Friday. The company has a market capitalization of $145.71 billion, a price-to-earnings ratio of 208.97, a price-to-earnings-growth ratio of 8.91 and a beta of 4.17. ARM Holdings PLC Sponsored ADR has a one year low of $80.00 and a one year high of $182.88. The stock has a 50-day simple moving average of $148.60 and a 200 day simple moving average of $132.69.

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

Analyst Ratings Changes

Several research firms have commented on ARM. Mizuho raised their price objective on ARM from $160.00 to $180.00 and gave the company an "outperform" rating in a research report on Thursday, July 3rd. Guggenheim raised their price objective on ARM from $147.00 to $187.00 and gave the company a "buy" rating in a research report on Monday, June 30th. Raymond James Financial raised their price objective on ARM from $140.00 to $165.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. UBS Group dropped their target price on ARM from $185.00 to $175.00 and set a "buy" rating on the stock in a research report on Thursday, July 31st. Finally, The Goldman Sachs Group started coverage on ARM in a research report on Thursday, July 10th. They set a "neutral" rating and a $160.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $169.67.

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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