ARM Holdings PLC Sponsored ADR $ARM Position Trimmed by Westwood Wealth Management

Westwood Wealth Management decreased its holdings in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 12.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,100 shares of the company’s stock after selling 2,250 shares during the period. ARM comprises 0.9% of Westwood Wealth Management’s portfolio, making the stock its 18th largest holding. Westwood Wealth Management’s holdings in ARM were worth $2,604,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Crescent Sterling Ltd. purchased a new position in ARM during the second quarter valued at approximately $234,000. Haven Private LLC lifted its position in ARM by 0.9% in the 2nd quarter. Haven Private LLC now owns 7,973 shares of the company’s stock worth $1,290,000 after buying an additional 74 shares in the last quarter. Atria Investments Inc acquired a new stake in shares of ARM during the 2nd quarter valued at $268,000. Assetmark Inc. grew its holdings in shares of ARM by 31.8% during the 2nd quarter. Assetmark Inc. now owns 64,564 shares of the company’s stock valued at $10,443,000 after acquiring an additional 15,562 shares in the last quarter. Finally, Keybank National Association OH acquired a new position in shares of ARM in the second quarter worth $336,000. 7.53% of the stock is owned by hedge funds and other institutional investors.

ARM Stock Performance

Shares of NASDAQ ARM opened at $169.82 on Friday. The business’s 50-day simple moving average is $153.37 and its 200-day simple moving average is $142.66. ARM Holdings PLC Sponsored ADR has a 52 week low of $80.00 and a 52 week high of $183.16. The firm has a market cap of $179.42 billion, a price-to-earnings ratio of 257.30, a P/E/G ratio of 10.67 and a beta of 4.10.

ARM (NASDAQ:ARM) last posted its 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. ARM had a return on equity of 15.56% and a net margin of 16.96%.The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the previous year, the company earned $0.40 EPS. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, equities research analysts forecast that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ARM. Seaport Res Ptn raised ARM to a “strong-buy” rating in a research report on Monday, August 11th. UBS Group lifted their price target on ARM from $175.00 to $200.00 and gave the company a “buy” rating in a report on Monday, October 27th. Wells Fargo & Company boosted their price target on ARM from $175.00 to $190.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. BNP Paribas Exane upgraded ARM from a “neutral” rating to an “outperform” rating and set a $210.00 price objective on the stock in a report on Wednesday, July 16th. Finally, BNP Paribas upgraded shares of ARM from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $110.00 to $210.00 in a research note on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $172.80.

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.