Alberta Investment Management Corp Decreases Position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM)

Key Points

• Alberta Investment Management Corp has decreased its stake in ARM Holdings PLC by 12.4%, owning 15,420 shares valued at approximately $1.65 million.
• National Bank of Canada FI significantly increased its stake by 194.3% during the 4th quarter, now holding 27,080 shares worth $3.34 million.
• Recent target price adjustments by analysts include a decrease from $175.00 to $150.00 by JPMorgan Chase & Co., while Morgan Stanley raised their target from $150.00 to $194.00.

Alberta Investment Management Corp cut its stake in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 12.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,420 shares of the company's stock after selling 2,175 shares during the period. Alberta Investment Management Corp's holdings in ARM were worth $1,647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. National Bank of Canada FI lifted its stake in shares of ARM by 194.3% during the 4th quarter. National Bank of Canada FI now owns 27,080 shares of the company's stock worth $3,341,000 after acquiring an additional 17,877 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of ARM by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 108,531 shares of the company's stock worth $13,388,000 after acquiring an additional 848 shares during the last quarter. ExodusPoint Capital Management LP bought a new stake in shares of ARM during the 4th quarter worth approximately $2,561,000. Wells Fargo & Company MN lifted its stake in shares of ARM by 0.3% during the 4th quarter. Wells Fargo & Company MN now owns 335,721 shares of the company's stock worth $41,414,000 after acquiring an additional 1,160 shares during the last quarter. Finally, KCM Investment Advisors LLC lifted its stake in shares of ARM by 40.0% during the 4th quarter. KCM Investment Advisors LLC now owns 3,060 shares of the company's stock worth $377,000 after acquiring an additional 875 shares during the last quarter. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

ARM Trading Down 2.7%

Shares of NASDAQ:ARM opened at $137.58 on Monday. ARM Holdings PLC Sponsored ADR has a 12-month low of $80.00 and a 12-month high of $182.88. The business's fifty day simple moving average is $147.01 and its 200-day simple moving average is $134.31. The company has a market capitalization of $145.35 billion, a PE ratio of 208.45, a P/E/G ratio of 8.13 and a beta of 4.17.

ARM (NASDAQ:ARM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.01. ARM had a return on equity of 15.56% and a net margin of 16.96%. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the business posted $0.40 EPS. The business's revenue was up 12.1% compared to the same quarter last year. Research analysts predict that ARM Holdings PLC Sponsored ADR will post 0.9 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ARM shares. Barclays decreased their price target on ARM from $125.00 to $115.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Mizuho raised their price target on ARM from $160.00 to $180.00 and gave the stock an "outperform" rating in a research note on Thursday, July 3rd. JPMorgan Chase & Co. decreased their price target on ARM from $175.00 to $150.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Morgan Stanley raised their price target on ARM from $150.00 to $194.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Finally, Needham & Company LLC restated a "hold" rating on shares of ARM in a report on Thursday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, ARM has an average rating of "Moderate Buy" and an average target price of $167.86.

ARM Company 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.

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