Thornburg Investment Management Inc. Sells 107,794 Shares of Arm Holdings plc (NASDAQ:ARM)

Thornburg Investment Management Inc. lowered its position in shares of Arm Holdings plc (NASDAQ:ARM) by 91.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,669 shares of the company’s stock after selling 107,794 shares during the period. Thornburg Investment Management Inc.’s holdings in ARM were worth $1,334,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in ARM. Mark Sheptoff Financial Planning LLC purchased a new position in ARM in the 1st quarter worth about $25,000. SOA Wealth Advisors LLC. bought a new stake in shares of ARM in the first quarter worth approximately $35,000. Naples Money Management LLC raised its holdings in shares of ARM by 47.8% during the first quarter. Naples Money Management LLC now owns 340 shares of the company’s stock valued at $42,000 after purchasing an additional 110 shares during the last quarter. Northwest Financial Advisors bought a new position in ARM during the fourth quarter valued at approximately $46,000. Finally, DSM Capital Partners LLC purchased a new stake in ARM in the fourth quarter worth approximately $50,000. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

ARM Trading Down 8.2 %

ARM traded down 14.02 during trading on Wednesday, reaching 157.68. 9,297,700 shares of the company traded hands, compared to its average volume of 12,783,568. Arm Holdings plc has a 12-month low of 46.50 and a 12-month high of 188.75. The firm has a fifty day simple moving average of 149.65 and a 200 day simple moving average of 123.66.

ARM (NASDAQ:ARM) last posted its earnings results on Wednesday, May 8th. The company reported 0.36 earnings per share for the quarter, beating the consensus estimate of 0.30 by 0.06. ARM had a net margin of 9.46% and a return on equity of 16.94%. The company had revenue of 928.00 million during the quarter, compared to analysts’ expectations of 865.94 million. During the same period last year, the company posted $0.02 earnings per share. ARM’s quarterly revenue was up 46.6% on a year-over-year basis. On average, equities analysts expect that Arm Holdings plc will post 0.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on ARM from $100.00 to $115.00 and gave the company an “overweight” rating in a report on Monday, April 29th. Rosenblatt Securities reissued a “buy” rating and issued a $180.00 target price on shares of ARM in a research report on Monday, May 6th. Susquehanna restated a “neutral” rating and set a $85.00 price target on shares of ARM in a research note on Thursday, April 4th. Bank of America increased their price objective on shares of ARM from $150.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. Finally, Evercore ISI cut their target price on shares of ARM from $156.00 to $145.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of 109.08.

ARM 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.