Thornburg Investment Management Inc. Sells 107,794 Shares of Arm Holdings plc (NASDAQ:ARM)

Thornburg Investment Management Inc. reduced its stake in Arm Holdings plc (NASDAQ:ARM) by 91.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,669 shares of the company’s stock after selling 107,794 shares during the period. Thornburg Investment Management Inc.’s holdings in ARM were worth $1,334,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Mark Sheptoff Financial Planning LLC bought a new position in shares of ARM in the 1st quarter worth $25,000. SOA Wealth Advisors LLC. acquired a new position in ARM during the first quarter worth $35,000. Naples Money Management LLC lifted its stake in shares of ARM by 47.8% in the first quarter. Naples Money Management LLC now owns 340 shares of the company’s stock valued at $42,000 after buying an additional 110 shares in the last quarter. Northwest Financial Advisors acquired a new position in shares of ARM during the fourth quarter valued at about $46,000. Finally, DSM Capital Partners LLC bought a new stake in shares of ARM during the fourth quarter worth about $50,000. Institutional investors and hedge funds own 7.53% of the company’s stock.

Wall Street Analysts Forecast Growth

ARM has been the subject of a number of analyst reports. Sanford C. Bernstein lifted their price target on ARM from $72.00 to $92.00 and gave the company an “underperform” rating in a research note on Thursday, May 16th. Guggenheim upped their price target on ARM from $110.00 to $169.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. KeyCorp raised their price objective on ARM from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Morgan Stanley upgraded shares of ARM from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $107.00 to $190.00 in a research note on Friday, July 19th. Finally, Needham & Company LLC reissued a “hold” rating on shares of ARM in a research report on Thursday, May 9th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, ARM has an average rating of “Moderate Buy” and an average target price of 109.08.

ARM Trading Down 8.2 %

Shares of ARM stock traded down 14.02 on Wednesday, reaching 157.68. The stock had a trading volume of 9,297,700 shares, compared to its average volume of 12,783,568. The business’s 50 day moving average is 149.65 and its two-hundred day moving average is 123.66. Arm Holdings plc has a 1 year low of 46.50 and a 1 year high of 188.75.

ARM (NASDAQ:ARM) last posted its earnings results on Wednesday, May 8th. The company reported 0.36 earnings per share for the quarter, topping analysts’ consensus estimates of 0.30 by 0.06. ARM had a net margin of 9.46% and a return on equity of 16.94%. The business had revenue of 928.00 million for the quarter, compared to analyst estimates of 865.94 million. During the same quarter in the prior year, the firm posted $0.02 EPS. ARM’s revenue was up 46.6% on a year-over-year basis. On average, equities analysts expect that Arm Holdings plc will post 0.85 earnings per share for the current fiscal year.

ARM Company Profile

Arm Holdings plc architects, develops, and licenses central processing unit products and related technologies for semiconductor companies and original equipment manufacturers rely on to develop products. It offers microprocessors, systems intellectual property (IPs), graphics processing units, physical IP and associated systems IPs, software, tools, and other related services.