Arm Holdings plc (NASDAQ:ARM) Shares Sold by GAM Holding AG

GAM Holding AG lowered its stake in Arm Holdings plc (NASDAQ:ARM) by 2.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 19,697 shares of the company’s stock after selling 401 shares during the quarter. GAM Holding AG’s holdings in ARM were worth $2,817,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. RiverPark Advisors LLC raised its position in ARM by 45.3% in the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after acquiring an additional 77 shares in the last quarter. Hexagon Capital Partners LLC raised its position in ARM by 14.0% in the third quarter. Hexagon Capital Partners LLC now owns 627 shares of the company’s stock worth $90,000 after acquiring an additional 77 shares in the last quarter. BOKF NA raised its position in ARM by 33.3% in the first quarter. BOKF NA now owns 400 shares of the company’s stock worth $51,000 after acquiring an additional 100 shares in the last quarter. Comerica Bank raised its holdings in ARM by 6.1% during the 1st quarter. Comerica Bank now owns 1,780 shares of the company’s stock worth $222,000 after buying an additional 103 shares during the period. Finally, Naples Money Management LLC raised its holdings in ARM by 47.8% during the 1st quarter. Naples Money Management LLC now owns 340 shares of the company’s stock worth $42,000 after buying an additional 110 shares during the period. Institutional investors and hedge funds own 7.53% of the company’s stock.

Analysts Set New Price Targets

ARM has been the topic of several recent analyst reports. William Blair initiated coverage on ARM in a report on Wednesday, September 18th. They set an “outperform” rating on the stock. Benchmark began coverage on ARM in a report on Monday, September 16th. They set a “hold” rating on the stock. Citigroup upped their target price on ARM from $150.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Guggenheim upped their target price on ARM from $110.00 to $169.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Finally, Sanford C. Bernstein upgraded ARM from an “underperform” rating to a “market perform” rating and upped their target price for the company from $92.00 to $100.00 in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $138.57.

ARM Stock Up 0.2 %

Shares of ARM stock opened at $152.58 on Wednesday. The stock has a market capitalization of $159.88 billion and a P/E ratio of 391.24. The stock has a 50 day moving average price of $138.38 and a two-hundred day moving average price of $135.61. Arm Holdings plc has a 12-month low of $46.50 and a 12-month high of $188.75.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. ARM had a return on equity of 18.97% and a net margin of 12.12%. The company had revenue of $939.00 million during the quarter, compared to analyst estimates of $905.53 million. During the same period in the previous year, the company earned $0.24 earnings per share. The company’s quarterly revenue was up 39.1% compared to the same quarter last year. Sell-side analysts anticipate that Arm Holdings plc will post 0.86 earnings per share for the current year.

About ARM

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.