Dakota Wealth Management Reduces Holdings in ARM Holdings PLC Sponsored ADR $ARM

Key Points

• Dakota Wealth Management significantly reduced its holdings in ARM Holdings by 92.2% in Q2, now owning only 1,879 shares worth $304,000.
• Several institutional investors, including TigerOak Management and Public Employees Retirement System of Ohio, made notable changes to their positions in ARM, reflecting ongoing interest in the stock.
• ARM's stock has shown strong price performance, currently trading at $139.62, and analysts maintain an average target price of $168.52 with a consensus rating of "Moderate Buy."

Dakota Wealth Management trimmed its holdings in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 92.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,879 shares of the company's stock after selling 22,204 shares during the quarter. Dakota Wealth Management's holdings in ARM were worth $304,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. TigerOak Management L.L.C. bought a new stake in shares of ARM during the second quarter worth $300,000. StoneCrest Wealth Management Inc. lifted its position in shares of ARM by 2.8% during the second quarter. StoneCrest Wealth Management Inc. now owns 5,378 shares of the company's stock worth $870,000 after purchasing an additional 148 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of ARM by 5.2% during the second quarter. Public Employees Retirement System of Ohio now owns 89,287 shares of the company's stock worth $14,441,000 after purchasing an additional 4,399 shares during the last quarter. Hoey Investments Inc. lifted its position in shares of ARM by 159.3% during the second quarter. Hoey Investments Inc. now owns 15,206 shares of the company's stock worth $2,459,000 after purchasing an additional 9,341 shares during the last quarter. Finally, Golden State Equity Partners bought a new stake in shares of ARM during the second quarter worth $263,000. 7.53% of the stock is currently owned by institutional investors.

ARM Price Performance

ARM stock opened at $139.62 on Monday. The business has a 50-day moving average price of $144.31 and a 200 day moving average price of $132.87. The company has a market capitalization of $147.51 billion, a P/E ratio of 211.55, a PEG ratio of 9.33 and a beta of 4.17. ARM Holdings PLC Sponsored ADR has a 1-year low of $80.00 and a 1-year high of $182.88.

ARM (NASDAQ:ARM - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.35 earnings per share for the quarter, beating 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 firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the company posted $0.40 earnings per share. The firm's quarterly revenue was up 12.1% on a year-over-year basis. On average, analysts anticipate that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ARM has been the subject of several research analyst reports. Benchmark reiterated a "hold" rating on shares of ARM in a research report on Monday, June 9th. BNP Paribas upgraded ARM from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $110.00 to $210.00 in a research report on Wednesday, July 16th. TD Cowen lifted their target price on ARM from $155.00 to $175.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Needham & Company LLC restated a "hold" rating on shares of ARM in a report on Thursday, July 31st. Finally, KeyCorp restated an "overweight" rating and issued a $190.00 price objective (up from $175.00) on shares of ARM in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, ARM presently has an average rating of "Moderate Buy" and an average target price of $168.52.

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.

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