Arm Holdings plc (NASDAQ:ARM) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp cut its stake in shares of Arm Holdings plc (NASDAQ:ARM - Free Report) by 11.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,322 shares of the company's stock after selling 2,305 shares during the quarter. Fifth Third Bancorp's holdings in ARM were worth $1,850,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ARM. GeoWealth Management LLC grew its holdings in ARM by 53.8% during the fourth quarter. GeoWealth Management LLC now owns 263 shares of the company's stock worth $32,000 after acquiring an additional 92 shares during the period. Colonial Trust Co SC purchased a new stake in shares of ARM during the 4th quarter worth $40,000. Farther Finance Advisors LLC boosted its position in shares of ARM by 108.6% during the 4th quarter. Farther Finance Advisors LLC now owns 870 shares of the company's stock worth $107,000 after purchasing an additional 453 shares in the last quarter. Harbour Investments Inc. grew its stake in shares of ARM by 40.1% during the 4th quarter. Harbour Investments Inc. now owns 902 shares of the company's stock worth $111,000 after purchasing an additional 258 shares during the period. Finally, Rialto Wealth Management LLC purchased a new position in shares of ARM in the 4th quarter valued at about $123,000. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Barclays decreased their price objective on shares of ARM from $125.00 to $115.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. KeyCorp dropped their target price on shares of ARM from $195.00 to $175.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Loop Capital reduced their price target on shares of ARM from $195.00 to $155.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Benchmark reissued a "hold" rating on shares of ARM in a research note on Monday, June 9th. Finally, Guggenheim cut their price objective on ARM from $180.00 to $147.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $152.76.

ARM Trading Up 4.8%

Shares of ARM traded up $6.46 during mid-day trading on Monday, reaching $142.01. The company had a trading volume of 4,153,656 shares, compared to its average volume of 6,551,551. Arm Holdings plc has a fifty-two week low of $80.00 and a fifty-two week high of $188.75. The firm has a fifty day simple moving average of $120.29 and a 200-day simple moving average of $130.60. The stock has a market cap of $150.43 billion, a price-to-earnings ratio of 186.86, a price-to-earnings-growth ratio of 6.33 and a beta of 4.08.

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