AdvisorNet Financial Inc Lowers Stock Position in ARM Holdings PLC Sponsored ADR $ARM

AdvisorNet Financial Inc reduced its stake in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 41.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,595 shares of the company’s stock after selling 1,122 shares during the period. AdvisorNet Financial Inc’s holdings in ARM were worth $258,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Sowell Financial Services LLC purchased a new position in shares of ARM during the 1st quarter valued at about $229,000. Swedbank AB purchased a new position in shares of ARM during the 1st quarter valued at about $18,667,000. Integrated Wealth Concepts LLC lifted its position in shares of ARM by 24.0% during the 1st quarter. Integrated Wealth Concepts LLC now owns 10,465 shares of the company’s stock valued at $1,118,000 after buying an additional 2,025 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in ARM by 12.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 107,728 shares of the company’s stock valued at $11,505,000 after purchasing an additional 11,953 shares during the period. Finally, Global X Japan Co. Ltd. raised its stake in ARM by 638.4% during the 2nd quarter. Global X Japan Co. Ltd. now owns 80,239 shares of the company’s stock valued at $12,978,000 after purchasing an additional 69,372 shares during the period. 7.53% of the stock is owned by hedge funds and other institutional investors.

ARM Price Performance

NASDAQ:ARM opened at $144.30 on Thursday. ARM Holdings PLC Sponsored ADR has a 1 year low of $80.00 and a 1 year high of $182.88. The stock’s 50 day simple moving average is $144.99 and its two-hundred day simple moving average is $132.23. The company has a market cap of $152.45 billion, a price-to-earnings ratio of 218.64, a PEG ratio of 9.42 and a beta of 4.17.

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

Analyst Ratings Changes

Several brokerages recently issued reports on ARM. Raymond James Financial lifted their target price on ARM from $140.00 to $165.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Mizuho lifted their target price on ARM from $160.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, July 3rd. The Goldman Sachs Group began coverage on ARM in a research note on Thursday, July 10th. They set a “neutral” rating and a $160.00 target price on the stock. Rosenblatt Securities reissued a “buy” rating and set a $180.00 target price on shares of ARM in a research note on Thursday, July 31st. Finally, Evercore ISI lifted their target price on ARM from $173.00 to $178.00 and gave the company an “outperform” rating in a research note on Thursday, September 11th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $168.52.

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.