Belvedere Trading LLC Invests $329,000 in ARM Holdings PLC Sponsored ADR $ARM

Belvedere Trading LLC bought a new position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,037 shares of the company’s stock, valued at approximately $329,000.

Several other large investors have also recently made changes to their positions in the company. Chicago Capital LLC increased its holdings in shares of ARM by 0.5% in the second quarter. Chicago Capital LLC now owns 15,732 shares of the company’s stock worth $2,544,000 after purchasing an additional 79 shares during the last quarter. Compound Planning Inc. increased its holdings in shares of ARM by 5.5% in the first quarter. Compound Planning Inc. now owns 2,305 shares of the company’s stock worth $246,000 after purchasing an additional 120 shares during the last quarter. IAM Advisory LLC increased its holdings in shares of ARM by 3.0% in the second quarter. IAM Advisory LLC now owns 4,556 shares of the company’s stock worth $737,000 after purchasing an additional 134 shares during the last quarter. StoneCrest Wealth Management Inc. increased its holdings in shares of ARM by 2.8% in the second quarter. StoneCrest Wealth Management Inc. now owns 5,378 shares of the company’s stock worth $870,000 after purchasing an additional 148 shares during the last quarter. Finally, Valley National Advisers Inc. increased its holdings in shares of ARM by 24.5% in the first quarter. Valley National Advisers Inc. now owns 763 shares of the company’s stock worth $81,000 after purchasing an additional 150 shares during the last quarter. 7.53% of the stock is owned by institutional investors.

ARM Stock Up 4.7%

ARM stock opened at $178.62 on Tuesday. The business has a fifty day moving average of $150.52 and a two-hundred day moving average of $140.80. The firm has a market cap 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 twelve month low of $80.00 and a twelve month high of $183.16.

ARM (NASDAQ:ARM) last posted its 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. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.40 earnings per share. Equities analysts expect that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current year.

Wall Street Analyst Weigh In

ARM has been the topic of several analyst reports. Guggenheim boosted their price objective on ARM from $147.00 to $187.00 and gave the stock a “buy” rating in a research note on Monday, June 30th. Morgan Stanley reduced their price objective on ARM from $180.00 to $171.00 and set an “overweight” rating on the stock in a research note on Thursday, October 9th. UBS Group boosted their price objective on ARM from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday. TD Cowen boosted their price objective on ARM from $155.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. Finally, BNP Paribas Exane raised ARM from a “neutral” rating to an “outperform” rating and set a $210.00 price objective on the stock in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $169.33.

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.