Elliott Investment Management L.P. Cuts Position in ARM Holdings PLC Sponsored ADR $ARM

Key Points

• Elliott Investment Management L.P. reduced its stake in ARM Holdings by 7.0%, selling 10,449 shares and maintaining a total of 139,551 shares, valued at approximately $14.9 million.
• Multiple hedge funds, including Price T Rowe Associates and Northern Trust Corp, increased their positions in ARM during the fourth quarter, indicating growing institutional interest in the stock.
• Analysts have given ARM a consensus rating of Moderate Buy with a price target of $169.67, reflecting optimism about the company's performance and future growth.

Elliott Investment Management L.P. lowered its holdings in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 7.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 139,551 shares of the company's stock after selling 10,449 shares during the period. ARM accounts for 0.1% of Elliott Investment Management L.P.'s investment portfolio, making the stock its 27th largest holding. Elliott Investment Management L.P.'s holdings in ARM were worth $14,903,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. TFC Financial Management Inc. boosted its stake in ARM by 163.4% during the 1st quarter. TFC Financial Management Inc. now owns 266 shares of the company's stock worth $28,000 after purchasing an additional 165 shares during the period. Brooklyn Investment Group acquired a new stake in ARM during the 1st quarter worth $28,000. N.E.W. Advisory Services LLC acquired a new stake in ARM during the 1st quarter worth $34,000. Colonial Trust Co SC acquired a new stake in ARM during the 4th quarter worth $40,000. Finally, MorganRosel Wealth Management LLC acquired a new stake in ARM during the 1st quarter worth $53,000. Institutional investors and hedge funds own 7.53% of the company's stock.

ARM Trading Up 2.0%

Shares of ARM traded up $2.69 during trading hours on Friday, reaching $138.17. The company had a trading volume of 2,815,559 shares, compared to its average volume of 3,609,340. The firm has a 50 day simple moving average of $145.89 and a 200-day simple moving average of $130.99. The company has a market capitalization of $145.98 billion, a price-to-earnings ratio of 209.35, a PEG ratio of 9.05 and a beta of 4.17. 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 results on Wednesday, July 30th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.01. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.06 billion. ARM had a net margin of 16.96% and a return on equity of 15.56%. The business's revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.40 EPS. Sell-side analysts forecast that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on ARM. The Goldman Sachs Group began coverage on shares of ARM in a research report on Thursday, July 10th. They set a "neutral" rating and a $160.00 price objective for the company. Seaport Res Ptn upgraded shares of ARM to a "strong-buy" rating in a research report on Monday, August 11th. KeyCorp restated an "overweight" rating and set a $190.00 price objective (up previously from $175.00) on shares of ARM in a research report on Thursday, July 31st. Loop Capital cut their price objective on shares of ARM from $195.00 to $155.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Finally, BNP Paribas Exane upgraded shares of ARM from a "neutral" rating to an "outperform" rating and set a $210.00 price objective for the company in a research report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, ARM currently has an average rating of "Moderate Buy" and a consensus price target of $169.67.

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.