Griffin Asset Management Inc. Trims Stock Position in Arm Holdings plc (NASDAQ:ARM)

Griffin Asset Management Inc. cut its position in Arm Holdings plc (NASDAQ:ARM) by 15.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,670 shares of the company’s stock after selling 300 shares during the quarter. Griffin Asset Management Inc.’s holdings in ARM were worth $206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of ARM. Franklin Resources Inc. raised its stake in ARM by 21.7% in the third quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock valued at $183,265,000 after purchasing an additional 228,467 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of ARM by 14,351.1% in the 3rd quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock worth $1,161,670,000 after buying an additional 806,676 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of ARM by 186.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock valued at $52,279,000 after buying an additional 233,909 shares in the last quarter. State Street Corp lifted its holdings in shares of ARM by 19.2% during the 3rd quarter. State Street Corp now owns 221,854 shares of the company’s stock worth $31,727,000 after acquiring an additional 35,720 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in ARM in the fourth quarter worth $22,705,000. 7.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ARM has been the topic of a number of research reports. Loop Capital raised their price target on ARM from $130.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. boosted their target price on ARM from $140.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. UBS Group assumed coverage on shares of ARM in a research report on Monday, November 25th. They set a “buy” rating and a $160.00 price target on the stock. Barclays boosted their price objective on shares of ARM from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Finally, Susquehanna upped their price objective on shares of ARM from $118.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, ARM currently has a consensus rating of “Moderate Buy” and an average price target of $152.09.

ARM Price Performance

Shares of NASDAQ ARM opened at $149.47 on Wednesday. Arm Holdings plc has a 1 year low of $69.32 and a 1 year high of $188.75. The stock has a market capitalization of $156.62 billion, a P/E ratio of 249.12, a P/E/G ratio of 8.41 and a beta of 4.53. The company’s 50-day moving average is $140.34 and its 200 day moving average is $140.23.

ARM (NASDAQ:ARM) last posted its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. ARM had a return on equity of 13.69% and a net margin of 18.13%. The firm had revenue of $844.00 million for the quarter, compared to the consensus estimate of $810.03 million. During the same quarter in the prior year, the business earned $0.36 EPS. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. Research analysts anticipate that Arm Holdings plc will post 0.84 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.