Arm Holdings plc (NASDAQ:ARM) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB reduced its stake in shares of Arm Holdings plc (NASDAQ:ARM - Free Report) by 5.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 85,454 shares of the company's stock after selling 5,248 shares during the quarter. Handelsbanken Fonder AB's holdings in ARM were worth $9,126,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of ARM. Bank of New York Mellon Corp increased its holdings in ARM by 5.4% during the 4th quarter. Bank of New York Mellon Corp now owns 105,300 shares of the company's stock worth $12,990,000 after purchasing an additional 5,440 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in ARM by 0.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 43,124 shares of the company's stock worth $5,320,000 after purchasing an additional 353 shares during the last quarter. Fisher Asset Management LLC increased its holdings in ARM by 81.5% during the 4th quarter. Fisher Asset Management LLC now owns 3,008 shares of the company's stock worth $371,000 after purchasing an additional 1,351 shares during the last quarter. Geode Capital Management LLC increased its holdings in 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 purchasing an additional 848 shares during the last quarter. Finally, Vontobel Holding Ltd. increased its holdings in ARM by 57.6% during the 4th quarter. Vontobel Holding Ltd. now owns 41,148 shares of the company's stock worth $5,076,000 after purchasing an additional 15,046 shares during the last quarter. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

ARM Stock Down 2.2%

ARM stock traded down $3.07 during trading on Friday, reaching $135.55. 3,305,200 shares of the company's stock were exchanged, compared to its average volume of 6,561,177. Arm Holdings plc has a 1-year low of $80.00 and a 1-year high of $188.75. The company's fifty day moving average price is $120.29 and its 200-day moving average price is $130.62. The firm has a market cap of $143.58 billion, a PE ratio of 178.36, a P/E/G ratio of 6.33 and a beta of 4.08.

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 company had revenue of $1.24 billion during 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 EPS. As a group, sell-side analysts expect that Arm Holdings plc will post 0.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ARM. Barclays dropped their price objective on ARM from $125.00 to $115.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Morgan Stanley dropped their price objective on ARM from $175.00 to $150.00 and set an "overweight" rating on the stock in a report on Friday, March 28th. KeyCorp lowered their price target on ARM from $195.00 to $175.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Needham & Company LLC reiterated a "hold" rating on shares of ARM in a report on Thursday, May 8th. Finally, Guggenheim lowered their price target on ARM from $180.00 to $147.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $152.76.

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.