Bank of America Corp DE cut its position in shares of Arm Holdings plc (NASDAQ:ARM - Free Report) by 51.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,437,695 shares of the company's stock after selling 1,508,962 shares during the quarter. Bank of America Corp DE owned approximately 0.14% of ARM worth $177,354,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. GeoWealth Management LLC increased its position in ARM by 53.8% during the 4th quarter. GeoWealth Management LLC now owns 263 shares of the company's stock valued at $32,000 after buying an additional 92 shares in the last quarter. Berbice Capital Management LLC purchased a new position in ARM during the fourth quarter valued at $49,000. Valley National Advisers Inc. lifted its position in ARM by 13.3% during the fourth quarter. Valley National Advisers Inc. now owns 613 shares of the company's stock valued at $75,000 after purchasing an additional 72 shares in the last quarter. MCF Advisors LLC bought a new position in shares of ARM in the fourth quarter worth about $83,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of ARM by 108.6% in the fourth quarter. Farther Finance Advisors LLC now owns 870 shares of the company's stock worth $107,000 after acquiring an additional 453 shares during the period. 7.53% of the stock is currently owned by institutional investors.
ARM Price Performance
ARM stock traded up $9.01 during trading hours on Monday, hitting $124.81. 7,531,417 shares of the stock traded hands, compared to its average volume of 7,097,753. Arm Holdings plc has a 1 year low of $80.00 and a 1 year high of $188.75. The stock has a market capitalization of $130.78 billion, a price-to-earnings ratio of 164.23, a P/E/G ratio of 6.33 and a beta of 4.39. The firm's 50 day moving average price is $110.45 and its 200-day moving average price is $132.03.
ARM (NASDAQ:ARM - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.52 by $0.03. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.23 billion. ARM had a return on equity of 11.94% and a net margin of 21.82%. ARM's quarterly revenue was up 33.7% compared to the same quarter last year. During the same period last year, the company earned $0.36 earnings per share. Research analysts forecast that Arm Holdings plc will post 0.9 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on ARM shares. The Goldman Sachs Group boosted their target price on ARM from $159.00 to $174.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Jefferies Financial Group upped their price objective on ARM from $170.00 to $195.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Loop Capital upped their target price on ARM from $180.00 to $195.00 and gave the company a "buy" rating in a research note on Monday, February 10th. Cfra Research raised ARM to a "hold" rating in a research note on Friday, March 21st. Finally, KGI Securities started coverage on ARM in a research note on Tuesday, April 15th. They set a "neutral" rating on the stock. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $154.67.
Read Our Latest Analysis on ARM
About ARM
(
Free Report)
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.
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