Nvidia Corp Cuts Position in Arm Holdings plc (NASDAQ:ARM)

Nvidia Corp reduced its stake in shares of Arm Holdings plc (NASDAQ:ARM - Free Report) by 43.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,101,249 shares of the company's stock after selling 859,535 shares during the period. ARM comprises 46.2% of Nvidia Corp's investment portfolio, making the stock its biggest position. Nvidia Corp owned approximately 0.11% of ARM worth $135,850,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GeoWealth Management LLC boosted its holdings in ARM by 53.8% in the 4th quarter. GeoWealth Management LLC now owns 263 shares of the company's stock worth $32,000 after buying an additional 92 shares during the period. Colonial Trust Co SC bought a new position in ARM in the 4th quarter valued at $40,000. Berbice Capital Management LLC bought a new position in ARM in the 4th quarter valued at $49,000. Valley National Advisers Inc. boosted its holdings in ARM by 13.3% in the 4th quarter. Valley National Advisers Inc. now owns 613 shares of the company's stock valued at $75,000 after purchasing an additional 72 shares during the period. Finally, MCF Advisors LLC bought a new position in ARM in the 4th quarter valued at $83,000. 7.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Rosenblatt Securities cut their price target on shares of ARM from $203.00 to $180.00 and set a "buy" rating for the company in a report on Thursday, May 8th. KGI Securities began coverage on shares of ARM in a research report on Tuesday, April 15th. They set a "neutral" rating on the stock. Barclays lowered their price objective on shares of ARM from $125.00 to $115.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Bank of America lowered their price objective on shares of ARM from $144.00 to $135.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Finally, Citigroup lowered their price objective on shares of ARM from $200.00 to $170.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $152.76.

ARM Price Performance

ARM stock traded up $2.89 during trading hours on Friday, reaching $135.96. The stock had a trading volume of 4,741,834 shares, compared to its average volume of 7,042,657. The stock has a market cap of $142.46 billion, a PE ratio of 178.90, a PEG ratio of 6.33 and a beta of 4.39. Arm Holdings plc has a 52 week low of $80.00 and a 52 week high of $188.75. The company has a fifty day simple moving average of $111.60 and a 200-day simple moving average of $131.61.

ARM (NASDAQ:ARM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.52 by $0.03. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.23 billion. ARM had a net margin of 21.82% and a return on equity of 11.94%. The company's revenue was up 33.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.36 EPS. Research analysts predict that Arm Holdings plc will post 0.9 earnings per share for the current fiscal year.

About ARM

Arm Holdings Plc engages in the licensing, marketing, research, and development of microprocessors, systems IP, graphics processing units, physical IP and associated systems IP, software, and tools. It operates through the following geographical segments: United Kingdom, United States, and Other Countries.