BNP Paribas Sells 2,051 Shares of Arm Holdings plc (NASDAQ:ARM)

BNP Paribas lowered its stake in Arm Holdings plc (NASDAQ:ARM) by 13.8% during the third quarter, Holdings Channel reports. The firm owned 12,783 shares of the company’s stock after selling 2,051 shares during the period. BNP Paribas’ holdings in ARM were worth $1,828,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. International Assets Investment Management LLC increased its holdings in ARM by 14,351.1% in the 3rd quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock valued at $1,161,670,000 after buying an additional 806,676 shares during the period. Sei Investments Co. boosted its position in shares of ARM by 551.6% during the 2nd quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock worth $94,790,000 after acquiring an additional 490,415 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in ARM by 186.8% during 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 purchasing an additional 233,909 shares in the last quarter. Marsico Capital Management LLC bought a new stake in ARM during the second quarter worth $33,207,000. Finally, ProShare Advisors LLC acquired a new stake in shares of ARM in the 2nd quarter valued at $16,611,000. Institutional investors and hedge funds own 7.53% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on ARM. Needham & Company LLC reissued a “hold” rating on shares of ARM in a report on Thursday, November 7th. Barclays boosted their target price on ARM from $125.00 to $145.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Daiwa America upgraded shares of ARM from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 8th. The Goldman Sachs Group upped their price objective on shares of ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company assumed coverage on shares of ARM in a research report on Friday, November 22nd. They issued an “overweight” rating and a $155.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, ARM currently has an average rating of “Moderate Buy” and a consensus target price of $150.32.

ARM Stock Performance

NASDAQ:ARM opened at $136.72 on Wednesday. Arm Holdings plc has a 52 week low of $60.37 and a 52 week high of $188.75. The firm’s fifty day moving average is $143.32 and its 200-day moving average is $141.32. The firm has a market cap of $143.26 billion, a P/E ratio of 227.87, a P/E/G ratio of 6.97 and a beta of 5.40.

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