TD Asset Management Inc Sells 2,841 Shares of ARM Holdings PLC Sponsored ADR $ARM

TD Asset Management Inc lowered its holdings in ARM Holdings PLC Sponsored ADR (NASDAQ:ARMFree Report) by 8.6% in the second quarter, HoldingsChannel.com reports. The firm owned 30,216 shares of the company’s stock after selling 2,841 shares during the quarter. TD Asset Management Inc’s holdings in ARM were worth $4,887,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of ARM. TFC Financial Management Inc. boosted its holdings in ARM by 163.4% in the 1st quarter. TFC Financial Management Inc. now owns 266 shares of the company’s stock valued at $28,000 after purchasing an additional 165 shares during the period. Brooklyn Investment Group bought a new stake in ARM in the 1st quarter valued at about $28,000. N.E.W. Advisory Services LLC bought a new stake in ARM in the 1st quarter valued at about $34,000. Oliver Lagore Vanvalin Investment Group bought a new stake in ARM in the 2nd quarter valued at about $39,000. Finally, ORG Partners LLC bought a new stake in ARM in the 2nd quarter valued at about $48,000. Institutional investors own 7.53% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. TD Cowen upped their price target on shares of ARM from $155.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. Morgan Stanley cut their price target on shares of ARM from $180.00 to $171.00 and set an “overweight” rating for the company in a report on Thursday, October 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a report on Thursday, July 31st. UBS Group cut their price target on shares of ARM from $185.00 to $175.00 and set a “buy” rating for the company in a report on Thursday, July 31st. Finally, KeyCorp reaffirmed an “overweight” rating and set a $190.00 price target (up previously from $175.00) on shares of ARM in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $167.43.

Check Out Our Latest Stock Report on ARM

ARM Price Performance

ARM stock opened at $171.50 on Tuesday. The company has a 50 day simple moving average of $147.59 and a 200 day simple moving average of $138.16. The stock has a market cap of $181.19 billion, a price-to-earnings ratio of 259.85, a P/E/G ratio of 10.80 and a beta of 4.10. ARM Holdings PLC Sponsored ADR has a 1 year low of $80.00 and a 1 year high of $182.88.

ARM (NASDAQ:ARMGet Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The business 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 firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.40 EPS. On average, equities research analysts anticipate that ARM Holdings PLC Sponsored ADR will post 0.9 EPS for the current fiscal year.

About ARM

(Free Report)

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.

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Institutional Ownership by Quarter for ARM (NASDAQ:ARM)

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