Blue Trust Inc. Increases Stock Holdings in ARM Holdings PLC Sponsored ADR $ARM

Blue Trust Inc. lifted its holdings in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 23.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,389 shares of the company’s stock after acquiring an additional 450 shares during the period. Blue Trust Inc.’s holdings in ARM were worth $386,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of ARM. Farther Finance Advisors LLC boosted its stake in shares of ARM by 85.7% in the first quarter. Farther Finance Advisors LLC now owns 1,616 shares of the company’s stock valued at $173,000 after buying an additional 746 shares in the last quarter. Ritholtz Wealth Management boosted its position in shares of ARM by 24.8% during the 1st quarter. Ritholtz Wealth Management now owns 2,377 shares of the company’s stock worth $254,000 after purchasing an additional 473 shares in the last quarter. Northstar Group Inc. purchased a new stake in ARM during the first quarter worth about $229,000. Janney Montgomery Scott LLC boosted its holdings in ARM by 17.7% during the first quarter. Janney Montgomery Scott LLC now owns 31,577 shares of the company’s stock worth $3,372,000 after buying an additional 4,742 shares in the last quarter. Finally, Sowell Financial Services LLC purchased a new stake in ARM during the first quarter worth about $229,000. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

ARM Stock Up 11.1%

NASDAQ ARM opened at $171.94 on Tuesday. 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 has a market cap of $181.66 billion, a price-to-earnings ratio of 260.52, a price-to-earnings-growth ratio of 10.10 and a beta of 4.10. The business has a fifty day moving average of $144.42 and a 200-day moving average of $135.79.

ARM (NASDAQ:ARM) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.35 earnings per share 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 company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the previous year, the firm posted $0.40 earnings per share. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, analysts anticipate that ARM Holdings PLC Sponsored ADR will post 0.9 EPS for the current year.

Wall Street Analyst Weigh In

ARM has been the topic of several research analyst reports. Guggenheim boosted their price target on ARM from $147.00 to $187.00 and gave the stock a “buy” rating in a research note on Monday, June 30th. BNP Paribas Exane raised ARM from a “neutral” rating to an “outperform” rating and set a $210.00 price objective for the company in a report on Wednesday, July 16th. Morgan Stanley reduced their price objective on ARM from $180.00 to $171.00 and set an “overweight” rating for the company in a report on Thursday, October 9th. The Goldman Sachs Group initiated coverage on ARM in a research note on Thursday, July 10th. They set a “neutral” rating and a $160.00 price target for the company. Finally, Wells Fargo & Company lifted their price target on ARM from $145.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $167.43.

ARM Company 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.