Bosman Wealth Management LLC Trims Holdings in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM)

Bosman Wealth Management LLC reduced its position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 52.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,438 shares of the company's stock after selling 5,934 shares during the quarter. Bosman Wealth Management LLC's holdings in ARM were worth $581,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in ARM by 5.4% during the fourth quarter. Bank of New York Mellon Corp now owns 105,300 shares of the company's stock worth $12,990,000 after acquiring an additional 5,440 shares in the last quarter. Sowell Financial Services LLC bought a new position in ARM during the first quarter worth $229,000. Envestnet Asset Management Inc. boosted its stake in ARM by 0.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 43,124 shares of the company's stock worth $5,320,000 after acquiring an additional 353 shares in the last quarter. Geode Capital Management LLC boosted its stake in ARM by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 108,531 shares of the company's stock worth $13,388,000 after acquiring an additional 848 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in ARM by 5.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,551 shares of the company's stock worth $1,302,000 after acquiring an additional 559 shares in the last quarter. 7.53% of the stock is owned by institutional investors.

ARM Price Performance

Shares of ARM traded down $2.61 during trading hours on Friday, hitting $145.94. The company's stock had a trading volume of 3,949,319 shares, compared to its average volume of 6,089,913. The business has a 50 day simple moving average of $138.50 and a two-hundred day simple moving average of $132.44. ARM Holdings PLC Sponsored ADR has a 52-week low of $80.00 and a 52-week high of $183.74. The company has a market cap of $154.59 billion, a price-to-earnings ratio of 194.59, a PEG ratio of 6.82 and a beta of 4.19.

ARM (NASDAQ:ARM - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.52 by $0.03. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.23 billion. ARM had a net margin of 19.76% and a return on equity of 17.97%. The business's revenue was up 33.7% compared to the same quarter last year. During the same period last year, the firm posted $0.36 earnings per share. Research analysts predict that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of ARM from $175.00 to $150.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Mizuho raised their price objective on shares of ARM from $160.00 to $180.00 and gave the company an "outperform" rating in a research note on Thursday, July 3rd. Citigroup dropped their price objective on shares of ARM from $200.00 to $170.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. KGI Securities initiated coverage on shares of ARM in a research note on Tuesday, April 15th. They issued a "neutral" rating on the stock. Finally, The Goldman Sachs Group initiated coverage on shares of ARM in a research note on Thursday. They issued a "neutral" rating and a $160.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $154.00.

About ARM

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.