Golden State Wealth Management LLC Raises Holdings in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM)

Golden State Wealth Management LLC increased its position in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 105.6% in the 1st quarter, Holdings Channel reports. The firm owned 2,920 shares of the company’s stock after purchasing an additional 1,500 shares during the period. Golden State Wealth Management LLC’s holdings in ARM were worth $312,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Independent Solutions Wealth Management LLC grew its holdings in ARM by 1.7% in the 1st quarter. Independent Solutions Wealth Management LLC now owns 16,571 shares of the company’s stock valued at $1,770,000 after buying an additional 278 shares in the last quarter. Spire Wealth Management grew its holdings in ARM by 15.7% in the 1st quarter. Spire Wealth Management now owns 1,174 shares of the company’s stock valued at $125,000 after buying an additional 159 shares in the last quarter. International Assets Investment Management LLC grew its holdings in ARM by 18.0% in the 1st quarter. International Assets Investment Management LLC now owns 6,953 shares of the company’s stock valued at $743,000 after buying an additional 1,062 shares in the last quarter. Harbour Capital Advisors LLC grew its holdings in ARM by 7.0% in the 1st quarter. Harbour Capital Advisors LLC now owns 8,705 shares of the company’s stock valued at $851,000 after buying an additional 570 shares in the last quarter. Finally, Southern Capital Advisors LLC purchased a new stake in ARM in the 1st quarter valued at $1,613,000. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

ARM Price Performance

Shares of ARM stock opened at $165.46 on Friday. The stock has a market capitalization of $175.27 billion, a price-to-earnings ratio of 220.61, a price-to-earnings-growth ratio of 7.26 and a beta of 4.08. The business has a 50-day moving average of $130.20 and a 200 day moving average of $131.55. ARM Holdings PLC Sponsored ADR has a 12 month low of $80.00 and a 12 month high of $188.75.

ARM (NASDAQ:ARM) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The company had revenue of $1.24 billion for 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 revenue for the quarter was up 33.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.36 EPS. Equities research analysts anticipate that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ARM. UBS Group dropped their target price on ARM from $215.00 to $165.00 and set a “buy” rating for the company in a report on Tuesday, April 29th. Morgan Stanley dropped their target price on ARM from $175.00 to $150.00 and set an “overweight” rating for the company in a report on Friday, March 28th. Rosenblatt Securities lowered their price target on ARM from $203.00 to $180.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Wells Fargo & Company lowered their price target on ARM from $150.00 to $145.00 and set an “overweight” rating for the company in a report on Thursday, May 8th. Finally, Citigroup lowered their price target on ARM from $200.00 to $170.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $152.76.

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.