Elite Wealth Management Inc. Lowers Stock Holdings in ARM Holdings PLC Sponsored ADR $ARM

Elite Wealth Management Inc. trimmed its position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 51.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,785 shares of the company’s stock after selling 13,443 shares during the quarter. ARM makes up approximately 0.7% of Elite Wealth Management Inc.’s portfolio, making the stock its 14th biggest holding. Elite Wealth Management Inc.’s holdings in ARM were worth $2,068,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Goldman Sachs Group Inc. raised its stake in ARM by 59.3% in the first quarter. Goldman Sachs Group Inc. now owns 6,574,854 shares of the company’s stock valued at $702,129,000 after purchasing an additional 2,446,224 shares in the last quarter. Sustainable Growth Advisers LP purchased a new stake in ARM in the first quarter valued at approximately $170,287,000. American Century Companies Inc. raised its stake in ARM by 112.3% in the first quarter. American Century Companies Inc. now owns 703,365 shares of the company’s stock valued at $75,112,000 after purchasing an additional 372,081 shares in the last quarter. Invesco Ltd. raised its stake in ARM by 9.5% in the first quarter. Invesco Ltd. now owns 576,020 shares of the company’s stock valued at $61,513,000 after purchasing an additional 49,805 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in ARM by 3,853.4% in the second quarter. Robeco Institutional Asset Management B.V. now owns 520,465 shares of the company’s stock valued at $84,180,000 after purchasing an additional 507,300 shares in the last quarter. 7.53% of the stock is owned by hedge funds and other institutional investors.

ARM Price Performance

Shares of ARM opened at $170.66 on Friday. The stock has a market capitalization of $180.30 billion, a price-to-earnings ratio of 258.58, a price-to-earnings-growth ratio of 10.14 and a beta of 4.10. ARM Holdings PLC Sponsored ADR has a 1 year low of $80.00 and a 1 year high of $182.88. The business’s 50 day simple moving average is $143.43 and its 200-day simple moving average is $134.83.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, July 30th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. The firm had revenue of $1.05 billion for 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 company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS. On average, sell-side analysts expect that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of ARM in a research note on Thursday, July 10th. They issued a “neutral” rating and a $160.00 target price on the stock. Wells Fargo & Company increased their price target on shares of ARM from $145.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, July 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of ARM in a research report on Wednesday. Rosenblatt Securities reiterated a “buy” rating and set a $180.00 price target on shares of ARM in a research report on Thursday, July 31st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ARM in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, ARM currently has a consensus rating of “Moderate Buy” and an average target price 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.