Global Trust Asset Management LLC Takes Position in ARM Holdings PLC Sponsored ADR $ARM

Global Trust Asset Management LLC purchased a new stake in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) during the second quarter, Holdings Channel reports. The institutional investor purchased 350 shares of the company’s stock, valued at approximately $57,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Compound Planning Inc. boosted its position in ARM by 5.5% during the first quarter. Compound Planning Inc. now owns 2,305 shares of the company’s stock valued at $246,000 after purchasing an additional 120 shares during the last quarter. IAM Advisory LLC boosted its position in ARM by 3.0% during the second quarter. IAM Advisory LLC now owns 4,556 shares of the company’s stock valued at $737,000 after purchasing an additional 134 shares during the last quarter. Convergence Financial LLC boosted its position in ARM by 2.0% during the first quarter. Convergence Financial LLC now owns 6,991 shares of the company’s stock valued at $747,000 after purchasing an additional 136 shares during the last quarter. AdvisorNet Financial Inc boosted its position in ARM by 5.4% during the first quarter. AdvisorNet Financial Inc now owns 2,717 shares of the company’s stock valued at $290,000 after purchasing an additional 139 shares during the last quarter. Finally, StoneCrest Wealth Management Inc. boosted its position in ARM by 2.8% during the second quarter. StoneCrest Wealth Management Inc. now owns 5,378 shares of the company’s stock valued at $870,000 after purchasing an additional 148 shares during the last quarter. Hedge funds and other institutional investors own 7.53% of the company’s stock.

ARM Price Performance

Shares of NASDAQ:ARM opened at $139.80 on Tuesday. ARM Holdings PLC Sponsored ADR has a fifty-two week low of $80.00 and a fifty-two week high of $182.88. The business has a 50-day moving average of $143.87 and a two-hundred day moving average of $133.02. The stock has a market capitalization of $147.70 billion, a P/E ratio of 211.82, a P/E/G ratio of 9.33 and a beta of 4.17.

ARM (NASDAQ:ARM) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the firm earned $0.40 EPS. The firm’s revenue was up 12.1% compared to the same quarter last year. As a group, research analysts expect that ARM Holdings PLC Sponsored ADR will post 0.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ARM. Benchmark reissued a “hold” rating on shares of ARM in a research report on Monday, June 9th. Mizuho lifted their price objective on ARM from $160.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, July 3rd. Seaport Res Ptn raised ARM to a “strong-buy” rating in a research report on Monday, August 11th. BNP Paribas raised ARM from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $110.00 to $210.00 in a research report on Wednesday, July 16th. Finally, BNP Paribas Exane raised ARM from a “neutral” rating to an “outperform” rating and set a $210.00 price target for the company in a research report on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, ARM has an average rating of “Moderate Buy” and an average target price 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.