Franklin Street Advisors Inc. NC Decreases Stake in ARM Holdings PLC Sponsored ADR $ARM

Key Points

• Franklin Street Advisors Inc. NC reduced its stake in ARM Holdings by 2.7%, selling 2,959 shares and owning 105,680 shares valued at $17.1 million.
• Several institutional investors have increased their holdings in ARM, with Goldman Sachs raising its position by 59.3%, now holding over 6.5 million shares.
• ARM reported earnings of $0.35 per share, surpassing estimates, with a net margin of 16.96% and a revenue of $1.05 billion for the quarter.

Franklin Street Advisors Inc. NC reduced its stake in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 2.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 105,680 shares of the company's stock after selling 2,959 shares during the quarter. Franklin Street Advisors Inc. NC's holdings in ARM were worth $17,093,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its position in ARM by 59.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,574,854 shares of the company's stock worth $702,129,000 after buying an additional 2,446,224 shares during the last quarter. Sustainable Growth Advisers LP purchased a new position in ARM during the 1st quarter worth approximately $170,287,000. American Century Companies Inc. grew its stake in shares of ARM by 112.3% during the 1st quarter. American Century Companies Inc. now owns 703,365 shares of the company's stock worth $75,112,000 after purchasing an additional 372,081 shares during the period. Invesco Ltd. grew its stake in shares of ARM by 9.5% during the 1st quarter. Invesco Ltd. now owns 576,020 shares of the company's stock worth $61,513,000 after purchasing an additional 49,805 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of ARM by 3,853.4% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 520,465 shares of the company's stock worth $84,180,000 after purchasing an additional 507,300 shares during the period. 7.53% of the stock is owned by hedge funds and other institutional investors.

ARM Stock Up 0.3%

Shares of ARM opened at $152.64 on Friday. ARM Holdings PLC Sponsored ADR has a 52-week low of $80.00 and a 52-week high of $182.88. The firm's fifty day moving average is $143.02 and its two-hundred day moving average is $133.64. The stock has a market cap of $161.27 billion, a PE ratio of 231.27, a price-to-earnings-growth ratio of 9.25 and a beta of 4.10.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ARM shares. Rosenblatt Securities reissued a "buy" rating and issued a $180.00 price target on shares of ARM in a research note on Thursday, July 31st. Morgan Stanley lifted their price target on shares of ARM from $150.00 to $194.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Needham & Company LLC reissued a "hold" rating on shares of ARM in a research note on Thursday, July 31st. BNP Paribas raised shares of ARM from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $110.00 to $210.00 in a research note on Wednesday, July 16th. Finally, TD Cowen lifted their price target on shares of ARM from $155.00 to $175.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target 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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