BOCHK Asset Management Ltd Lowers Stock Holdings in Arm Holdings plc (NASDAQ:ARM)

BOCHK Asset Management Ltd reduced its position in Arm Holdings plc (NASDAQ:ARM) by 33.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 68,050 shares of the company’s stock after selling 33,930 shares during the quarter. ARM accounts for about 2.9% of BOCHK Asset Management Ltd’s holdings, making the stock its 12th largest holding. BOCHK Asset Management Ltd’s holdings in ARM were worth $9,732,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Mark Sheptoff Financial Planning LLC purchased a new position in shares of ARM in the first quarter worth about $25,000. ORG Partners LLC bought a new stake in ARM during the 3rd quarter valued at $29,000. Transcendent Capital Group LLC purchased a new stake in ARM during the 2nd quarter valued at $33,000. Gilliland Jeter Wealth Management LLC grew its holdings in ARM by 83.0% in the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after acquiring an additional 117 shares during the last quarter. Finally, RiverPark Advisors LLC increased its position in shares of ARM by 45.3% in the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after acquiring an additional 77 shares during the period. 7.53% of the stock is currently owned by institutional investors.

ARM Price Performance

ARM stock traded down $2.06 during midday trading on Thursday, reaching $140.35. 4,096,057 shares of the company traded hands, compared to its average volume of 11,148,467. Arm Holdings plc has a 12 month low of $47.12 and a 12 month high of $188.75. The firm has a market capitalization of $147.06 billion and a price-to-earnings ratio of 360.21. The business has a 50 day moving average of $138.71 and a two-hundred day moving average of $135.66.

ARM (NASDAQ:ARM) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The firm had revenue of $939.00 million for the quarter, compared to the consensus estimate of $905.53 million. ARM had a return on equity of 18.97% and a net margin of 12.12%. The company’s revenue for the quarter was up 39.1% on a year-over-year basis. During the same period last year, the business posted $0.24 EPS. As a group, equities analysts forecast that Arm Holdings plc will post 0.86 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Daiwa America raised ARM from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 8th. Citigroup upped their target price on ARM from $150.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Evercore ISI raised their target price on ARM from $145.00 to $173.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Barclays upped their price target on ARM from $105.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, William Blair assumed coverage on shares of ARM in a report on Wednesday, September 18th. They set an “outperform” rating on the stock. 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 given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $138.57.

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.