ARM Holdings PLC Sponsored ADR $ARM Shares Sold by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC significantly reduced its stake in ARM Holdings, selling 76.3% of its shares in the first quarter, leaving it with 114,711 shares valued at approximately $12.24 million.
• Equities analysts have raised their price targets for ARM shares, with Wells Fargo setting a new target of $175 and multiple firms issuing various "overweight" and "buy" ratings, indicating strong market confidence.
• ARM's stock was reported at $154.70, with a market capitalization of $163.44 billion, as it seeks to increase revenue significantly compared to last year, despite recent earnings slightly missing analysts' expectations.

Acadian Asset Management LLC decreased its holdings in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 76.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,711 shares of the company's stock after selling 368,441 shares during the quarter. Acadian Asset Management LLC's holdings in ARM were worth $12,240,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brooklyn Investment Group acquired a new position in shares of ARM during the 1st quarter valued at $28,000. TFC Financial Management Inc. lifted its holdings in shares of ARM by 163.4% during the 1st quarter. TFC Financial Management Inc. now owns 266 shares of the company's stock valued at $28,000 after acquiring an additional 165 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new position in shares of ARM during the 1st quarter valued at $34,000. MorganRosel Wealth Management LLC acquired a new position in shares of ARM during the 1st quarter valued at $53,000. Finally, Pandora Wealth Inc. acquired a new position in shares of ARM during the 1st quarter valued at $53,000. Institutional investors and hedge funds own 7.53% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on ARM shares. Wells Fargo & Company boosted their price objective on shares of ARM from $145.00 to $175.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. TD Cowen boosted their price objective on shares of ARM from $155.00 to $175.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Raymond James Financial boosted their price objective on shares of ARM from $140.00 to $165.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Mizuho boosted their price objective on shares of ARM from $160.00 to $180.00 and gave the stock an "outperform" rating in a report on Thursday, July 3rd. Finally, Evercore ISI boosted their price objective on shares of ARM from $173.00 to $178.00 and gave the stock an "outperform" rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, ARM has a consensus rating of "Moderate Buy" and an average target price of $168.52.

ARM Stock Up 0.4%

Shares of NASDAQ:ARM opened at $154.70 on Friday. ARM Holdings PLC Sponsored ADR has a fifty-two week low of $80.00 and a fifty-two week high of $182.88. The firm has a 50-day simple moving average of $145.12 and a 200 day simple moving average of $130.98. The company has a market cap of $163.44 billion, a PE ratio of 234.39, a P/E/G ratio of 10.30 and a beta of 4.17.

ARM (NASDAQ:ARM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.34 by $0.01. ARM had a net margin of 16.96% and a return on equity of 15.56%. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the firm earned $0.40 EPS. The company's revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, research analysts forecast that ARM Holdings PLC Sponsored ADR 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.

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