Dock Street Asset Management Inc. Purchases 74,131 Shares of ARM Holdings PLC Sponsored ADR $ARM

Dock Street Asset Management Inc. increased its position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 49.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 225,452 shares of the company’s stock after purchasing an additional 74,131 shares during the quarter. ARM makes up 3.4% of Dock Street Asset Management Inc.’s portfolio, making the stock its 11th largest holding. Dock Street Asset Management Inc.’s holdings in ARM were worth $36,465,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sowell Financial Services LLC bought a new position in shares of ARM during the first quarter valued at $229,000. Swedbank AB bought a new position in shares of ARM during the first quarter valued at $18,667,000. Integrated Wealth Concepts LLC lifted its holdings in shares of ARM by 24.0% during the first quarter. Integrated Wealth Concepts LLC now owns 10,465 shares of the company’s stock valued at $1,118,000 after acquiring an additional 2,025 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of ARM by 12.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 107,728 shares of the company’s stock valued at $11,505,000 after acquiring an additional 11,953 shares during the period. Finally, Global X Japan Co. Ltd. lifted its holdings in shares of ARM by 638.4% during the second quarter. Global X Japan Co. Ltd. now owns 80,239 shares of the company’s stock valued at $12,978,000 after acquiring an additional 69,372 shares during the period. 7.53% of the stock is owned by institutional investors.

ARM Stock Down 2.2%

ARM stock opened at $168.16 on Wednesday. The stock has a 50-day simple moving average of $145.04 and a 200 day simple moving average of $136.01. The stock has a market capitalization of $177.66 billion, a price-to-earnings ratio of 254.79, a P/E/G ratio of 11.21 and a beta of 4.10. ARM Holdings PLC Sponsored ADR has a 12-month low of $80.00 and a 12-month high of $182.88.

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

Wall Street Analysts Forecast Growth

ARM has been the subject of a number of analyst reports. KeyCorp reissued an “overweight” rating and set a $190.00 price objective (up from $175.00) on shares of ARM in a report on Thursday, July 31st. TD Cowen lifted their price objective on ARM from $155.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, July 31st. BNP Paribas raised ARM from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $110.00 to $210.00 in a report on Wednesday, July 16th. 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 report on Wednesday, July 16th. Finally, Guggenheim lifted their price target on ARM from $147.00 to $187.00 and gave the company a “buy” rating in a report on Monday, June 30th. One 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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.