Lazard Asset Management LLC Decreases Stake in Arm Holdings plc (NASDAQ:ARM)

Lazard Asset Management LLC reduced its position in Arm Holdings plc (NASDAQ:ARM - Free Report) by 29.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,651 shares of the company's stock after selling 4,490 shares during the quarter. Lazard Asset Management LLC's holdings in ARM were worth $1,313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of ARM. Bank of New York Mellon Corp increased its stake in shares of ARM by 5.4% in the fourth quarter. Bank of New York Mellon Corp now owns 105,300 shares of the company's stock worth $12,990,000 after purchasing an additional 5,440 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in ARM by 333.8% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,884 shares of the company's stock valued at $849,000 after buying an additional 5,297 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in ARM by 0.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 43,124 shares of the company's stock valued at $5,320,000 after acquiring an additional 353 shares during the period. Union Bancaire Privee UBP SA purchased a new stake in shares of ARM during the fourth quarter worth $471,000. Finally, Fisher Asset Management LLC lifted its position in shares of ARM by 81.5% during the fourth quarter. Fisher Asset Management LLC now owns 3,008 shares of the company's stock worth $371,000 after acquiring an additional 1,351 shares in the last quarter. 7.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the company. Morgan Stanley cut their target price on ARM from $175.00 to $150.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. Wells Fargo & Company cut their price objective on shares of ARM from $150.00 to $145.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Barclays reduced their price objective on shares of ARM from $125.00 to $115.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. JPMorgan Chase & Co. lowered 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. Finally, Citigroup reduced their price target on shares of ARM from $200.00 to $170.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $152.76.

ARM Price Performance

NASDAQ ARM traded down $1.17 on Thursday, reaching $129.28. 2,359,342 shares of the company's stock traded hands, compared to its average volume of 6,979,634. The stock has a market cap of $135.46 billion, a PE ratio of 170.11, a P/E/G ratio of 6.33 and a beta of 4.39. Arm Holdings plc has a 12 month low of $80.00 and a 12 month high of $188.75. The stock has a 50-day simple moving average of $112.62 and a 200 day simple moving average of $131.31.

ARM (NASDAQ:ARM - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.52 by $0.03. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.23 billion. ARM had a net margin of 21.82% and a return on equity of 11.94%. The firm's quarterly revenue was up 33.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.36 EPS. As a group, analysts anticipate that Arm Holdings plc will post 0.9 EPS for the current year.

ARM 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.