Tower View Wealth Management LLC Grows Stake in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM)

Tower View Wealth Management LLC grew its holdings in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 40.6% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 20,569 shares of the company’s stock after acquiring an additional 5,937 shares during the period. Tower View Wealth Management LLC’s holdings in ARM were worth $2,197,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. GAM Holding AG lifted its stake in shares of ARM by 15.5% in the 1st quarter. GAM Holding AG now owns 21,619 shares of the company’s stock valued at $2,309,000 after purchasing an additional 2,896 shares during the period. Mizuho Securities Co. Ltd. raised its stake in ARM by 309.9% during the first quarter. Mizuho Securities Co. Ltd. now owns 7,050 shares of the company’s stock valued at $753,000 after buying an additional 5,330 shares during the last quarter. PFG Investments LLC grew its position in ARM by 20.7% during the 1st quarter. PFG Investments LLC now owns 21,953 shares of the company’s stock valued at $2,344,000 after purchasing an additional 3,759 shares during the last quarter. Advisor Resource Council purchased a new stake in ARM during the 1st quarter valued at about $226,000. Finally, Blue Trust Inc. grew its position in ARM by 14.5% during the 1st quarter. Blue Trust Inc. now owns 1,939 shares of the company’s stock valued at $207,000 after purchasing an additional 245 shares during the last quarter. Hedge funds and other institutional investors own 7.53% of the company’s stock.

ARM Stock Down 0.7%

NASDAQ:ARM opened at $145.04 on Friday. ARM Holdings PLC Sponsored ADR has a 52 week low of $80.00 and a 52 week high of $188.75. The stock has a market capitalization of $153.64 billion, a PE ratio of 193.39, a price-to-earnings-growth ratio of 6.71 and a beta of 4.08. The stock’s 50-day moving average price is $124.70 and its 200-day moving average price is $130.93.

ARM (NASDAQ:ARM) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.55 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $1.23 billion. During the same period in the previous year, the firm posted $0.36 EPS. ARM’s revenue was up 33.7% compared to the same quarter last year. Sell-side analysts expect that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ARM. KGI Securities began coverage on ARM in a report on Tuesday, April 15th. They issued a “neutral” rating for the company. Benchmark reissued a “hold” rating on shares of ARM in a report on Monday, June 9th. Barclays lowered their price objective on ARM from $125.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. Raymond James Financial lowered their price objective on ARM from $175.00 to $140.00 and set an “outperform” rating on the stock in a research report on Thursday, May 8th. Finally, Morgan Stanley decreased their target price on ARM from $175.00 to $150.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, ARM has an average rating of “Moderate Buy” and an average price target of $152.76.

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.