Arm Holdings plc (NASDAQ:ARM) Shares Sold by Elliott Investment Management L.P.

Elliott Investment Management L.P. reduced its stake in shares of Arm Holdings plc (NASDAQ:ARM - Free Report) by 84.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 150,000 shares of the company's stock after selling 800,000 shares during the period. ARM makes up approximately 0.1% of Elliott Investment Management L.P.'s portfolio, making the stock its 25th biggest holding. Elliott Investment Management L.P.'s holdings in ARM were worth $18,504,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of the business. Tufton Capital Management grew its position in shares of ARM by 1.5% during the 4th quarter. Tufton Capital Management now owns 4,425 shares of the company's stock valued at $546,000 after acquiring an additional 65 shares during the period. Valley National Advisers Inc. lifted its stake 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 buying an additional 72 shares in the last quarter. Zullo Investment Group Inc. lifted its stake in ARM by 4.6% in the 4th quarter. Zullo Investment Group Inc. now owns 1,915 shares of the company's stock valued at $236,000 after buying an additional 85 shares in the last quarter. GeoWealth Management LLC lifted its stake in ARM by 53.8% in 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. Finally, Cibc World Markets Corp lifted its stake in ARM by 3.5% in the 4th quarter. Cibc World Markets Corp now owns 2,838 shares of the company's stock valued at $350,000 after buying an additional 96 shares in the last quarter. 7.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. KGI Securities assumed coverage on shares of ARM in a research note on Tuesday, April 15th. They issued a "neutral" rating on the stock. Jefferies Financial Group raised their price target on shares of ARM from $170.00 to $195.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Raymond James decreased their price target on shares of ARM from $175.00 to $140.00 and set an "outperform" rating on the stock in a research note on Thursday. Loop Capital raised their price target on shares of ARM from $180.00 to $195.00 and gave the company a "buy" rating in a research note on Monday, February 10th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of ARM in a research note on Thursday. 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 stock. Based on data from MarketBeat, ARM currently has an average rating of "Moderate Buy" and an average price target of $154.67.

ARM Price Performance

Shares of ARM stock traded down $0.65 during trading on Friday, hitting $115.87. 5,356,356 shares of the stock traded hands, compared to its average volume of 7,095,969. The firm has a market capitalization of $121.41 billion, a P/E ratio of 152.46, a price-to-earnings-growth 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 firm's fifty day moving average price is $110.45 and its 200-day moving average price is $132.03.

ARM (NASDAQ:ARM - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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%. The firm's quarterly revenue was up 33.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.36 earnings per share. As a group, equities research analysts expect that Arm Holdings plc will post 0.9 earnings per share for the current year.

ARM Profile

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.