Balboa Wealth Partners Acquires 300 Shares of ARM Holdings PLC Sponsored ADR $ARM

Balboa Wealth Partners grew its holdings in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 11.0% in the second quarter, HoldingsChannel.com reports. The fund owned 3,025 shares of the company’s stock after purchasing an additional 300 shares during the period. Balboa Wealth Partners’ holdings in ARM were worth $489,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ARM. TFC Financial Management Inc. lifted its position in ARM by 163.4% in the 1st quarter. TFC Financial Management Inc. now owns 266 shares of the company’s stock worth $28,000 after buying an additional 165 shares during the last quarter. Brooklyn Investment Group bought a new stake in ARM in the 1st quarter worth approximately $28,000. N.E.W. Advisory Services LLC bought a new stake in ARM in the 1st quarter worth approximately $34,000. Oliver Lagore Vanvalin Investment Group bought a new stake in ARM in the 2nd quarter worth approximately $39,000. Finally, ORG Partners LLC bought a new stake in ARM in the 2nd quarter worth approximately $48,000. Institutional investors own 7.53% of the company’s stock.

ARM Stock Up 3.6%

Shares of ARM stock opened at $171.50 on Tuesday. The company has a market cap of $181.19 billion, a PE ratio of 259.85, a P/E/G ratio of 10.80 and a beta of 4.10. The business has a 50 day moving average of $147.59 and a 200 day moving average of $138.16. ARM Holdings PLC Sponsored ADR has a 52 week low of $80.00 and a 52 week high of $182.88.

ARM (NASDAQ:ARM) last announced its earnings results on Wednesday, July 30th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.06 billion. ARM had a return on equity of 15.56% and a net margin of 16.96%.The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.40 earnings per share. On average, research analysts anticipate that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current year.

Analysts Set New Price Targets

ARM has been the subject of a number of recent research reports. Rosenblatt Securities restated a “buy” rating and issued a $180.00 target price on shares of ARM in a research report on Thursday, July 31st. The Goldman Sachs Group began coverage on ARM in a research note on Thursday, July 10th. They issued a “neutral” rating and a $160.00 price target on the stock. Mizuho lifted their price target on ARM from $160.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, July 3rd. Guggenheim lifted their price target on ARM from $147.00 to $187.00 and gave the stock a “buy” rating in a research note on Monday, June 30th. Finally, Evercore ISI lifted their price target on ARM from $173.00 to $178.00 and gave the stock an “outperform” rating in a research note on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $167.43.

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.