Arm Holdings plc (NASDAQ:ARM) Stock Position Cut by Summit Partners Public Asset Management LLC

Summit Partners Public Asset Management LLC trimmed its stake in shares of Arm Holdings plc (NASDAQ:ARM) by 30.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 70,000 shares of the company’s stock after selling 30,000 shares during the quarter. Summit Partners Public Asset Management LLC’s holdings in ARM were worth $10,011,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in ARM. International Assets Investment Management LLC raised its holdings in shares of ARM by 14,351.1% in the 3rd quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock worth $1,161,670,000 after purchasing an additional 806,676 shares in the last quarter. Sei Investments Co. increased its holdings in shares of ARM by 551.6% in the second quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock valued at $94,790,000 after buying an additional 490,415 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of ARM by 186.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock valued at $52,279,000 after buying an additional 233,909 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of ARM by 5.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 290,947 shares of the company’s stock valued at $36,366,000 after acquiring an additional 14,584 shares during the last quarter. Finally, Mark Asset Management LP boosted its stake in shares of ARM by 14.2% during the 2nd quarter. Mark Asset Management LP now owns 238,589 shares of the company’s stock worth $39,038,000 after acquiring an additional 29,686 shares in the last quarter. 7.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ARM has been the subject of a number of recent analyst reports. Sanford C. Bernstein lowered ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price target for the company. in a research report on Thursday, October 31st. William Blair initiated coverage on shares of ARM in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. Benchmark assumed coverage on shares of ARM in a report on Monday, September 16th. They set a “hold” rating on the stock. Citigroup lifted their price objective on shares of ARM from $150.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Daiwa Capital Markets upgraded ARM from a “neutral” rating to an “outperform” rating and set a $130.00 target price for the company in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $150.32.

ARM Price Performance

Shares of NASDAQ:ARM opened at $133.37 on Friday. The stock has a market capitalization of $139.75 billion, a P/E ratio of 222.28, a P/E/G ratio of 6.97 and a beta of 5.40. The business has a 50-day moving average of $143.07 and a two-hundred day moving average of $141.21. Arm Holdings plc has a fifty-two week low of $60.37 and a fifty-two week high of $188.75.

ARM (NASDAQ:ARM) last announced its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. ARM had a return on equity of 13.69% and a net margin of 18.13%. The firm had revenue of $844.00 million during the quarter, compared to analysts’ expectations of $810.03 million. During the same quarter in the prior year, the business earned $0.36 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. As a group, research analysts expect that Arm Holdings plc will post 0.79 EPS 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.