Arm Holdings plc (NASDAQ:ARM) Shares Sold by Summit Partners Public Asset Management LLC

Summit Partners Public Asset Management LLC lowered its stake in shares of Arm Holdings plc (NASDAQ:ARM) by 30.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 70,000 shares of the company’s stock after selling 30,000 shares during the period. Summit Partners Public Asset Management LLC’s holdings in ARM were worth $10,011,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Transcendent Capital Group LLC acquired a new stake in ARM during the 2nd quarter worth approximately $33,000. ORG Partners LLC purchased a new stake in ARM during the third quarter worth approximately $29,000. 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 worth $40,000 after acquiring an additional 77 shares in the last quarter. Mather Group LLC. purchased a new position in shares of ARM in the 2nd quarter valued at $41,000. Finally, Gilliland Jeter Wealth Management LLC lifted its holdings in shares of ARM by 83.0% during the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock valued at $37,000 after acquiring an additional 117 shares in the last quarter. Institutional investors and hedge funds own 7.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Citigroup increased their price target on ARM from $150.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, August 1st. The Goldman Sachs Group increased their target price on ARM from $144.00 to $159.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Loop Capital raised their target price on ARM from $130.00 to $180.00 and gave the company a “buy” rating in a report on Monday, November 11th. Sanford C. Bernstein cut ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price target for the company. in a report on Thursday, October 31st. Finally, Raymond James began coverage on shares of ARM in a research report on Friday, September 13th. They issued an “outperform” rating and a $160.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $150.32.

ARM Trading Down 2.5 %

Shares of NASDAQ ARM opened at $133.37 on Friday. Arm Holdings plc has a 12-month low of $60.37 and a 12-month high of $188.75. The company has a market cap of $139.75 billion, a price-to-earnings ratio of 222.28, a price-to-earnings-growth ratio of 6.97 and a beta of 5.40. The stock’s 50 day simple moving average is $143.07 and its 200 day simple moving average is $141.21.

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