Robertson Stephens Wealth Management LLC Buys New Shares in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM)

Robertson Stephens Wealth Management LLC bought a new position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARMFree Report) in the first quarter, Holdings Channel.com reports. The firm bought 3,450 shares of the company’s stock, valued at approximately $368,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Chicago Capital LLC increased its holdings in shares of ARM by 27.2% in the first quarter. Chicago Capital LLC now owns 15,653 shares of the company’s stock valued at $1,672,000 after purchasing an additional 3,349 shares during the period. QRG Capital Management Inc. boosted its position in ARM by 125.1% in the first quarter. QRG Capital Management Inc. now owns 8,989 shares of the company’s stock valued at $960,000 after buying an additional 4,995 shares during the last quarter. Sowell Financial Services LLC acquired a new position in ARM in the 1st quarter worth approximately $229,000. Janney Montgomery Scott LLC raised its position in ARM by 17.7% during the 1st 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 during the last quarter. Finally, Northstar Group Inc. acquired a new stake in ARM during the 1st quarter valued at approximately $229,000. Institutional investors and hedge funds own 7.53% of the company’s stock.

ARM Stock Up 0.9%

ARM opened at $146.05 on Friday. The company has a market cap of $154.70 billion, a PE ratio of 194.73, a price-to-earnings-growth ratio of 6.71 and a beta of 4.08. ARM Holdings PLC Sponsored ADR has a twelve month low of $80.00 and a twelve month high of $188.75. The company has a 50-day moving average price of $123.87 and a 200 day moving average price of $130.90.

ARM (NASDAQ:ARMGet Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.52 by $0.03. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.23 billion. ARM had a return on equity of 17.97% and a net margin of 19.76%. ARM’s quarterly revenue was up 33.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.36 EPS. As a group, sell-side analysts expect that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ARM shares. UBS Group cut their price objective on shares of ARM from $215.00 to $165.00 and set a “buy” rating on the stock in a research note on Tuesday, April 29th. Morgan Stanley cut their price target on ARM from $175.00 to $150.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. Rosenblatt Securities reduced their price objective on ARM from $203.00 to $180.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. Barclays lowered their target price on ARM from $125.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, May 8th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ARM in a research report on Thursday, May 8th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, ARM currently has a consensus rating of “Moderate Buy” and an average target price of $152.76.

Read Our Latest Report on ARM

About ARM

(Free Report)

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.

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Want to see what other hedge funds are holding ARM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ARM Holdings PLC Sponsored ADR (NASDAQ:ARMFree Report).

Institutional Ownership by Quarter for ARM (NASDAQ:ARM)

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