Belvedere Trading LLC Takes Position in ARM Holdings PLC Sponsored ADR $ARM

Belvedere Trading LLC acquired a new stake in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 2,037 shares of the company’s stock, valued at approximately $329,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Goldman Sachs Group Inc. lifted its holdings in shares of ARM by 59.3% during the 1st 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 last quarter. Sustainable Growth Advisers LP purchased a new stake in shares of ARM during the 1st quarter valued at $170,287,000. American Century Companies Inc. lifted its holdings in shares of ARM by 112.3% during the 1st 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 last quarter. Invesco Ltd. lifted its holdings in shares of ARM by 9.5% during the 1st 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 last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of ARM by 3,853.4% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 520,465 shares of the company’s stock valued at $84,180,000 after purchasing an additional 507,300 shares during the last quarter. Hedge funds and other institutional investors own 7.53% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. UBS Group increased their price objective on ARM from $175.00 to $200.00 and gave the company a “buy” rating in a report on Monday. BNP Paribas Exane raised ARM from a “neutral” rating to an “outperform” rating and set a $210.00 target price on the stock in a research report on Wednesday, July 16th. TD Cowen upped their target price on ARM from $155.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. Morgan Stanley cut their target price on ARM from $180.00 to $171.00 and set an “overweight” rating on the stock in a research report on Thursday, October 9th. Finally, Mizuho upped their target price on ARM from $160.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, July 3rd. 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 given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $169.33.

ARM Stock Performance

Shares of ARM opened at $178.62 on Tuesday. The business’s 50-day moving average is $150.52 and its two-hundred day moving average is $140.80. The company has a market capitalization of $188.71 billion, a P/E ratio of 270.64, a P/E/G ratio of 10.72 and a beta of 4.10. ARM Holdings PLC Sponsored ADR has a fifty-two week low of $80.00 and a fifty-two week high of $183.16.

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