Venturi Wealth Management LLC Invests $243,000 in ARM Holdings PLC Sponsored ADR $ARM

Venturi Wealth Management LLC purchased a new position in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 1,500 shares of the company’s stock, valued at approximately $243,000.

Several other institutional investors also recently modified their holdings of the business. Independent Solutions Wealth Management LLC grew its position in shares of ARM by 3.0% during the 2nd quarter. Independent Solutions Wealth Management LLC now owns 17,069 shares of the company’s stock worth $2,761,000 after buying an additional 498 shares during the period. Kingswood Wealth Advisors LLC grew its position in shares of ARM by 52.1% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 5,958 shares of the company’s stock worth $964,000 after buying an additional 2,041 shares during the period. Slow Capital Inc. acquired a new stake in shares of ARM during the 2nd quarter worth approximately $3,946,000. SteelPeak Wealth LLC acquired a new stake in shares of ARM during the 2nd quarter worth approximately $218,000. Finally, Willner & Heller LLC grew its position in shares of ARM by 21.4% during the 2nd quarter. Willner & Heller LLC now owns 10,090 shares of the company’s stock worth $1,632,000 after buying an additional 1,780 shares during the period. Institutional investors and hedge funds own 7.53% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on ARM. UBS Group lowered their price target on shares of ARM from $185.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday, July 31st. Raymond James Financial lifted their price objective on shares of ARM from $140.00 to $165.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Mizuho boosted their price objective on shares of ARM from $160.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, July 3rd. The Goldman Sachs Group started coverage on shares of ARM in a report on Thursday, July 10th. They set a “neutral” rating and a $160.00 price objective for the company. Finally, Morgan Stanley decreased their price objective on shares of ARM from $180.00 to $171.00 and set an “overweight” rating for the company in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $167.43.

ARM Stock Performance

Shares of NASDAQ ARM opened at $154.93 on Friday. The stock has a market cap of $163.68 billion, a P/E ratio of 234.74, a P/E/G ratio of 11.13 and a beta of 4.10. The firm has a 50 day moving average price of $143.78 and a 200 day moving average price of $135.04. 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 released its quarterly 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 company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.06 billion. ARM had a net margin of 16.96% and a return on equity of 15.56%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.40 earnings per share. Analysts predict that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current fiscal year.

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.