BOCHK Asset Management Ltd Sells 33,930 Shares of Arm Holdings plc (NASDAQ:ARM)

BOCHK Asset Management Ltd lowered its holdings in shares of Arm Holdings plc (NASDAQ:ARM) by 33.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 68,050 shares of the company’s stock after selling 33,930 shares during the period. ARM makes up about 2.9% of BOCHK Asset Management Ltd’s holdings, making the stock its 12th biggest position. BOCHK Asset Management Ltd’s holdings in ARM were worth $9,732,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. International Assets Investment Management LLC grew its holdings in ARM by 14,351.1% in the third quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock worth $1,161,670,000 after purchasing an additional 806,676 shares during the period. Sei Investments Co. boosted its stake in shares of ARM by 551.6% in the 2nd quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock worth $94,790,000 after buying an additional 490,415 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of ARM by 5.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 290,947 shares of the company’s stock worth $36,366,000 after buying an additional 14,584 shares during the last quarter. Mark Asset Management LP grew its holdings in shares of ARM by 14.2% in the second quarter. Mark Asset Management LP now owns 238,589 shares of the company’s stock valued at $39,038,000 after acquiring an additional 29,686 shares in the last quarter. Finally, State of Michigan Retirement System purchased a new stake in shares of ARM during the first quarter valued at approximately $28,523,000. 7.53% of the stock is currently owned by institutional investors.

ARM Trading Down 1.4 %

Shares of ARM stock traded down $2.06 during trading on Thursday, hitting $140.35. The stock had a trading volume of 4,096,057 shares, compared to its average volume of 11,148,467. The firm has a market cap of $147.06 billion and a price-to-earnings ratio of 360.21. Arm Holdings plc has a 12 month low of $47.12 and a 12 month high of $188.75. The business’s 50-day moving average is $138.71 and its 200 day moving average is $135.66.

ARM (NASDAQ:ARM) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.05. ARM had a return on equity of 18.97% and a net margin of 12.12%. The firm had revenue of $939.00 million for the quarter, compared to analysts’ expectations of $905.53 million. During the same quarter last year, the firm posted $0.24 EPS. The company’s revenue was up 39.1% compared to the same quarter last year. As a group, equities analysts expect that Arm Holdings plc will post 0.86 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ARM shares. Rosenblatt Securities restated a “buy” rating and issued a $180.00 price objective on shares of ARM in a research note on Thursday, August 1st. Raymond James assumed coverage on shares of ARM in a research report on Friday, September 13th. They set an “outperform” rating and a $160.00 price target for the company. Sanford C. Bernstein raised shares of ARM from an “underperform” rating to a “market perform” rating and lifted their price objective for the stock from $92.00 to $100.00 in a research report on Wednesday, August 7th. Daiwa America raised shares of ARM from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, Evercore ISI lifted their price target on shares of ARM from $145.00 to $173.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $138.57.

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.