TrueMark Investments LLC Invests $710,000 in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM)

TrueMark Investments LLC bought a new position in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 6,644 shares of the company’s stock, valued at approximately $710,000.

A number of other large investors also recently made changes to their positions in the company. GeoWealth Management LLC boosted its holdings in ARM by 53.8% in the 4th quarter. GeoWealth Management LLC now owns 263 shares of the company’s stock valued at $32,000 after purchasing an additional 92 shares during the period. Colonial Trust Co SC acquired a new stake in shares of ARM in the fourth quarter valued at approximately $40,000. Farther Finance Advisors LLC boosted its stake in shares of ARM by 108.6% in the fourth quarter. Farther Finance Advisors LLC now owns 870 shares of the company’s stock valued at $107,000 after buying an additional 453 shares during the period. Harbour Investments Inc. boosted its stake in shares of ARM by 40.1% in the fourth quarter. Harbour Investments Inc. now owns 902 shares of the company’s stock valued at $111,000 after buying an additional 258 shares during the period. Finally, Rialto Wealth Management LLC acquired a new stake in ARM during the fourth quarter worth approximately $123,000. Institutional investors own 7.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ARM shares. Benchmark reaffirmed a “hold” rating on shares of ARM in a report on Monday, June 9th. JPMorgan Chase & Co. dropped their price target on ARM from $175.00 to $150.00 and set an “overweight” rating for the company in a research note on Thursday, May 8th. Needham & Company LLC reiterated a “hold” rating on shares of ARM in a research note on Thursday, May 8th. Bank of America decreased their target price on shares of ARM from $144.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Finally, Citigroup cut their price target on shares of ARM from $200.00 to $170.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $152.76.

ARM Price Performance

NASDAQ:ARM opened at $145.04 on Monday. ARM Holdings PLC Sponsored ADR has a one year low of $80.00 and a one year high of $188.75. The company has a market cap of $153.64 billion, a PE ratio of 193.39, a P/E/G ratio of 6.66 and a beta of 4.10. The firm’s 50 day simple moving average is $124.70 and its 200 day simple moving average is $130.81.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.55 EPS for the quarter, topping 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 net margin of 19.76% and a return on equity of 17.97%. ARM’s revenue was up 33.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.36 earnings per share. Equities research analysts expect that ARM Holdings PLC Sponsored ADR will post 0.9 EPS 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.