Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 313.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,452 shares of the company's stock after purchasing an additional 13,232 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in ARM were worth $1,864,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of ARM. TFC Financial Management Inc. raised its stake in shares of ARM by 163.4% in the 1st quarter. TFC Financial Management Inc. now owns 266 shares of the company's stock valued at $28,000 after buying an additional 165 shares in the last quarter. GeoWealth Management LLC raised its holdings in ARM by 53.8% during the 4th quarter. GeoWealth Management LLC now owns 263 shares of the company's stock worth $32,000 after buying an additional 92 shares during the period. Colonial Trust Co SC bought a new position in shares of ARM in the fourth quarter valued at $40,000. MorganRosel Wealth Management LLC bought a new position in ARM during the first quarter worth $53,000. Finally, Valley National Advisers Inc. raised its stake in ARM by 24.5% in the first quarter. Valley National Advisers Inc. now owns 763 shares of the company's stock valued at $81,000 after purchasing an additional 150 shares in the last quarter. 7.53% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the company. Mizuho increased their price target on ARM from $160.00 to $180.00 and gave the stock an "outperform" rating in a report on Thursday, July 3rd. Barclays cut their target price on ARM from $125.00 to $115.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. TD Cowen raised their target price on ARM from $155.00 to $175.00 and gave the stock a "buy" rating in a research note on Thursday. The Goldman Sachs Group initiated coverage on ARM in a research report on Thursday, July 10th. They issued a "neutral" rating and a $160.00 price objective on the stock. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $180.00 target price on shares of ARM in a report on Thursday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, ARM presently has a consensus rating of "Moderate Buy" and an average target price of $167.86.
Check Out Our Latest Analysis on ARM
ARM Price Performance
Shares of ARM stock traded down $3.80 during trading hours on Friday, reaching $137.58. 7,657,305 shares of the company were exchanged, compared to its average volume of 5,600,762. ARM Holdings PLC Sponsored ADR has a fifty-two week low of $80.00 and a fifty-two week high of $182.88. The stock's fifty day moving average is $147.01 and its two-hundred day moving average is $134.40. The company has a market cap of $145.35 billion, a price-to-earnings ratio of 208.45, a P/E/G ratio of 8.13 and a beta of 4.17.
ARM (NASDAQ:ARM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.35 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $1.06 billion. During the same quarter last year, the company posted $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, research analysts anticipate that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current year.
ARM Profile
(
Free Report)
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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