ARM Holdings PLC Sponsored ADR $ARM Shares Sold by PFG Investments LLC

PFG Investments LLC reduced its holdings in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 37.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,680 shares of the company’s stock after selling 8,273 shares during the quarter. PFG Investments LLC’s holdings in ARM were worth $2,213,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ARM. GAMMA Investing LLC increased its position in ARM by 1,576.6% in the 1st quarter. GAMMA Investing LLC now owns 24,562 shares of the company’s stock valued at $26,230,000 after acquiring an additional 23,097 shares during the period. RFG Advisory LLC acquired a new stake in ARM in the 1st quarter valued at approximately $907,000. Lake Street Private Wealth LLC increased its position in shares of ARM by 21.2% during the 1st quarter. Lake Street Private Wealth LLC now owns 5,525 shares of the company’s stock valued at $590,000 after purchasing an additional 965 shares during the period. Northwest Financial Advisors acquired a new position in shares of ARM during the 1st quarter valued at $258,000. Finally, StoneCrest Wealth Management Inc. increased its position in shares of ARM by 69.3% during the 1st quarter. StoneCrest Wealth Management Inc. now owns 5,230 shares of the company’s stock valued at $559,000 after purchasing an additional 2,140 shares during the period. 7.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ARM has been the topic of several research analyst reports. The Goldman Sachs Group initiated coverage on ARM in a research report on Thursday, July 10th. They set a “neutral” rating and a $160.00 price target on the stock. Mizuho lifted their price target on ARM from $160.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, July 3rd. Needham & Company LLC reiterated a “hold” rating on shares of ARM in a research report on Thursday, July 31st. Wells Fargo & Company lifted their target price on ARM from $145.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, July 21st. Finally, Seaport Res Ptn upgraded ARM to a “strong-buy” rating in a report on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, ARM currently has an average rating of “Moderate Buy” and a consensus target price of $168.52.

ARM Stock Up 6.3%

Shares of NASDAQ ARM opened at $150.38 on Thursday. The stock has a market capitalization of $158.88 billion, a price-to-earnings ratio of 227.85, a PEG ratio of 9.46 and a beta of 4.11. The stock’s fifty day simple moving average is $143.39 and its 200 day simple moving average is $133.20. ARM Holdings PLC Sponsored ADR has a 52-week low of $80.00 and a 52-week high of $182.88.

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

About ARM

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.