VestGen Advisors LLC lessened its holdings in shares of Arm Holdings PLC Sponsored ADR (NASDAQ:ARM – Free Report) by 25.6% during the third quarter, Holdings Channel.com reports. The firm owned 14,243 shares of the company’s stock after selling 4,898 shares during the quarter. VestGen Advisors LLC’s holdings in ARM were worth $4,125,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. M & L Capital Management Ltd bought a new position in ARM during the 3rd quarter worth $26,736,000. Asset Management One Co. Ltd. grew its position in shares of ARM by 76.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 19,216 shares of the company’s stock valued at $5,566,000 after buying an additional 8,305 shares during the last quarter. Total Clarity Wealth Management Inc. grew its position in shares of ARM by 86.2% in the 3rd quarter. Total Clarity Wealth Management Inc. now owns 2,449 shares of the company’s stock valued at $709,000 after buying an additional 1,134 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in shares of ARM by 28.6% in the third quarter. Oppenheimer & Co. Inc. now owns 45,623 shares of the company’s stock worth $13,215,000 after acquiring an additional 10,151 shares during the period. Finally, Signaturefd LLC boosted its holdings in ARM by 83.5% in the third quarter. Signaturefd LLC now owns 1,090 shares of the company’s stock valued at $316,000 after acquiring an additional 496 shares during the last quarter. Institutional investors and hedge funds own 7.53% of the company’s stock.
ARM Stock Performance
Shares of ARM opened at $228.77 on Friday. Arm Holdings PLC Sponsored ADR has a 52-week low of $100.02 and a 52-week high of $452.70. The business’s 50 day moving average price is $259.62 and its two-hundred day moving average price is $227.44. The firm has a market cap of $244.34 billion, a PE ratio of 256.41, a price-to-earnings-growth ratio of 7.00 and a beta of 3.78.
ARM (NASDAQ:ARM – Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.40 by $0.05. ARM had a net margin of 20.25% and a return on equity of 12.24%. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the firm posted $0.35 EPS. The company’s quarterly revenue was up 22.4% on a year-over-year basis. Research analysts predict that Arm Holdings PLC Sponsored ADR will post 1.15 EPS for the current fiscal year.
ARM News Summary
Here are the key news stories impacting ARM this week:
- Positive Sentiment: Upcoming second-quarter earnings are viewed as a potential catalyst for a recovery in Arm Holdings shares. Strong customer demand and evidence of continued growth could improve investor sentiment and support the stock. Why Arm’s Q2 Earnings Could Spur a Recovery in Its Stock
- Positive Sentiment: Arm’s data-center business is expected to continue offsetting softness in mobile-related demand. Ongoing adoption of Arm-based chips in cloud and infrastructure markets provides an important growth driver, although the article characterizes significant upside as dependent on a bullish scenario. Arm Holdings: Data Centers Will Continue To Offset Weak Mobile, But Upside Only In My Bull Case
- Neutral Sentiment: Reports that a large animated arm is appearing in the X post composer describe a platform-design feature rather than a material development for Arm Holdings. The similarly named company is not connected to the social-media feature. Why Is a Giant Arm Appearing to Point X Users to Promote Whatever Tweets Are Called Now?
- Negative Sentiment: Valuation remains a major risk ahead of earnings. With Arm trading at a very elevated earnings multiple, the stock may require strong results and guidance to justify its price, leaving it vulnerable to disappointment. Arm: The Price Tag Remains Far Too Steep (Earnings Preview)
- Negative Sentiment: Weakness in the mobile market could limit near-term growth, increasing Arm’s reliance on data-center expansion to sustain momentum. Arm: The Price Tag Remains Far Too Steep (Earnings Preview)
Insider Transactions at ARM
In other ARM news, CFO Jason Child sold 10,400 shares of the firm’s stock in a transaction on Monday, September 21st. The shares were sold at an average price of $300.00, for a total value of $3,120,000.00. Following the completion of the sale, the chief financial officer directly owned 153,442 shares in the company, valued at approximately $46,032,600. This trade represents a 6.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Analyst Ratings Changes
A number of analysts have weighed in on the stock. Needham & Company LLC reissued a “buy” rating and set a $255.00 target price on shares of ARM in a research report on Thursday, July 30th. Benchmark started coverage on shares of ARM in a research report on Thursday, July 16th. They issued a “hold” rating on the stock. Piper Sandler began coverage on shares of ARM in a research report on Wednesday, September 9th. They set an “overweight” rating and a $320.00 price objective for the company. UBS Group dropped their target price on shares of ARM from $360.00 to $320.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Finally, KeyCorp upped their price target on shares of ARM from $300.00 to $430.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $303.32.
Check Out Our Latest Stock Report on ARM
ARM Profile
Arm Holdings plc (NASDAQ: ARM) is a semiconductor and software design company that develops central processing unit (CPU) architectures and related intellectual property. Rather than manufacturing chips itself, Arm licenses its designs and instruction-set architectures to semiconductor companies and technology manufacturers, which incorporate them into their own products.
The company’s offerings include CPU processor cores, graphics processing units through its Mali product family, system IP, development tools and software.
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