Allianz Asset Management GmbH Sells 11,598 Shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM)

Allianz Asset Management GmbH lowered its stake in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 19.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,615 shares of the company's stock after selling 11,598 shares during the period. Allianz Asset Management GmbH's holdings in ARM were worth $5,192,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ARM. Marshall Wace LLP purchased a new position in ARM in the 4th quarter valued at approximately $51,901,000. Banque Transatlantique SA purchased a new position in shares of ARM during the 4th quarter valued at $37,440,000. Raymond James Financial Inc. purchased a new position in shares of ARM during the 4th quarter valued at $32,655,000. Woodline Partners LP grew its position in shares of ARM by 9,501.0% during the 4th quarter. Woodline Partners LP now owns 213,238 shares of the company's stock valued at $26,305,000 after purchasing an additional 211,017 shares in the last quarter. Finally, Duquesne Family Office LLC grew its position in shares of ARM by 725.5% during the 4th quarter. Duquesne Family Office LLC now owns 178,394 shares of the company's stock valued at $22,007,000 after purchasing an additional 156,784 shares in the last quarter. Hedge funds and other institutional investors own 7.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ARM shares. Needham & Company LLC reaffirmed a "hold" rating on shares of ARM in a report on Thursday. Raymond James Financial boosted their price target on shares of ARM from $140.00 to $165.00 and gave the stock an "outperform" rating in a research note on Thursday. Mizuho boosted their price objective on shares of ARM from $160.00 to $180.00 and gave the company an "outperform" rating in a research report on Thursday, July 3rd. The Goldman Sachs Group initiated coverage on shares of ARM in a research report on Thursday, July 10th. They issued a "neutral" rating and a $160.00 price objective on the stock. Finally, KeyCorp restated an "overweight" rating and issued a $190.00 price objective (up previously from $175.00) on shares of ARM in a research report on Thursday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $165.13.

ARM Stock Performance

Shares of NASDAQ ARM traded down $2.29 during midday trading on Friday, reaching $139.10. The stock had a trading volume of 4,371,381 shares, compared to its average volume of 5,556,800. The stock has a 50-day moving average of $146.80 and a 200-day moving average of $134.51. The company has a market capitalization of $146.96 billion, a price-to-earnings ratio of 210.79, a price-to-earnings-growth ratio of 9.35 and a beta of 4.19. ARM Holdings PLC Sponsored ADR has a 12-month low of $80.00 and a 12-month high of $182.88.

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 analysts' consensus estimates of $0.34 by $0.01. The firm had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $1.06 billion. ARM had a net margin of 16.96% and a return on equity of 15.92%. The company's revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.40 earnings per share. As a group, 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.