ARM Holdings PLC Sponsored ADR $ARM Shares Sold by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp significantly reduced its stake in ARM Holdings by 89.3%, selling 15,464 shares and ending the period with 1,858 shares valued at approximately $301,000.
• Several analysts have raised their price targets for ARM, with KeyCorp setting a new target at $190, reflecting a generally positive outlook among brokerages.
• ARM's latest quarterly earnings revealed a 12.1% increase in revenue year-over-year, alongside earnings per share of $0.35, surpassing the consensus estimate.

Fifth Third Bancorp cut its holdings in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 89.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,858 shares of the company's stock after selling 15,464 shares during the period. Fifth Third Bancorp's holdings in ARM were worth $301,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sowell Financial Services LLC acquired a new position in shares of ARM during the first quarter worth approximately $229,000. Swedbank AB acquired a new position in shares of ARM during the first quarter worth approximately $18,667,000. Integrated Wealth Concepts LLC boosted its position in shares of ARM by 24.0% during the first quarter. Integrated Wealth Concepts LLC now owns 10,465 shares of the company's stock worth $1,118,000 after buying an additional 2,025 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of ARM by 12.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 107,728 shares of the company's stock worth $11,505,000 after buying an additional 11,953 shares during the period. Finally, Global X Japan Co. Ltd. boosted its position in shares of ARM by 638.4% during the second quarter. Global X Japan Co. Ltd. now owns 80,239 shares of the company's stock worth $12,978,000 after buying an additional 69,372 shares during the period. 7.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ARM. Raymond James Financial boosted their price objective on ARM from $140.00 to $165.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. TD Cowen boosted their target price on ARM from $155.00 to $175.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Evercore ISI boosted their target price on ARM from $173.00 to $178.00 and gave the stock an "outperform" rating in a report on Thursday, September 11th. KeyCorp reissued an "overweight" rating and set a $190.00 target price (up previously from $175.00) on shares of ARM in a report on Thursday, July 31st. Finally, Mizuho boosted their target price on ARM from $160.00 to $180.00 and gave the stock an "outperform" rating in a report on Thursday, July 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, ARM currently has a consensus rating of "Moderate Buy" and a consensus price target of $168.52.

ARM Trading Up 1.2%

Shares of NASDAQ:ARM opened at $141.49 on Wednesday. ARM Holdings PLC Sponsored ADR has a 1 year low of $80.00 and a 1 year high of $182.88. The business has a fifty day simple moving average of $143.57 and a 200 day simple moving average of $133.08. The firm has a market cap of $149.49 billion, a price-to-earnings ratio of 214.38, a P/E/G ratio of 9.34 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 (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $1.06 billion. During the same period last year, the company earned $0.40 earnings per share. ARM's quarterly revenue was up 12.1% compared to the same quarter last year. On average, sell-side analysts forecast that ARM Holdings PLC Sponsored ADR will post 0.9 EPS for the current year.

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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