Canada Pension Plan Investment Board Sells 19,537 Shares of ARM Holdings PLC Sponsored ADR $ARM

Key Points

• The Canada Pension Plan Investment Board reduced its holdings in ARM Holdings PLC by 38.7% in the first quarter, ending up with 30,949 shares valued at approximately $3.3 million.
• Several institutional investors have recently increased their stakes in ARM, with ownership by hedge funds and other institutional investors now at 7.53%.
• ARM's stock currently holds an average rating of "Moderate Buy" with a price target of $169.67, reflecting varying opinions among analysts regarding its future performance.

Canada Pension Plan Investment Board trimmed its stake in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 38.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,949 shares of the company's stock after selling 19,537 shares during the period. Canada Pension Plan Investment Board's holdings in ARM were worth $3,305,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Brooklyn Investment Group acquired a new position in shares of ARM during the first quarter worth approximately $28,000. TFC Financial Management Inc. lifted its position in shares of ARM by 163.4% during the first quarter. TFC Financial Management Inc. now owns 266 shares of the company's stock worth $28,000 after purchasing an additional 165 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new position in shares of ARM during the first quarter worth approximately $34,000. Colonial Trust Co SC acquired a new position in ARM in the fourth quarter valued at approximately $40,000. Finally, MorganRosel Wealth Management LLC acquired a new position in ARM in the first quarter valued at approximately $53,000. 7.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ARM. Needham & Company LLC restated a "hold" rating on shares of ARM in a report on Thursday, July 31st. Raymond James Financial increased their price objective on shares of ARM from $140.00 to $165.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. UBS Group cut their price objective on shares of ARM from $185.00 to $175.00 and set a "buy" rating on the stock in a report on Thursday, July 31st. BNP Paribas upgraded shares of ARM from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $110.00 to $210.00 in a report on Wednesday, July 16th. Finally, Loop Capital decreased their price target on shares of ARM from $195.00 to $155.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $169.67.

ARM Stock Up 2.0%

Shares of NASDAQ:ARM traded up $2.69 during midday trading on Friday, reaching $138.17. 2,815,559 shares of the company were exchanged, compared to its average volume of 3,609,340. ARM Holdings PLC Sponsored ADR has a fifty-two week low of $80.00 and a fifty-two week high of $182.88. The stock has a fifty day simple moving average of $145.89 and a two-hundred day simple moving average of $130.83. The firm has a market cap of $145.98 billion, a PE ratio of 209.35, a P/E/G ratio of 9.23 and a beta of 4.17.

ARM (NASDAQ:ARM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.06 billion. ARM had a net margin of 16.96% and a return on equity of 15.56%. The firm's quarterly revenue was up 12.1% on a year-over-year basis. During the same period last year, the business posted $0.40 earnings per share. As a group, analysts forecast that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share 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.