New York State Common Retirement Fund Sells 31,563 Shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM)

New York State Common Retirement Fund lowered its stake in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 43.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,672 shares of the company's stock after selling 31,563 shares during the period. New York State Common Retirement Fund's holdings in ARM were worth $4,450,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. GeoWealth Management LLC boosted its stake in shares of ARM by 53.8% in the fourth quarter. GeoWealth Management LLC now owns 263 shares of the company's stock valued at $32,000 after buying an additional 92 shares in the last quarter. TFC Financial Management Inc. increased its stake in ARM by 163.4% in the first quarter. TFC Financial Management Inc. now owns 266 shares of the company's stock valued at $28,000 after purchasing an additional 165 shares during the last quarter. Colonial Trust Co SC acquired a new stake in ARM during the fourth quarter worth about $40,000. MorganRosel Wealth Management LLC acquired a new stake in ARM during the first quarter worth about $53,000. Finally, Valley National Advisers Inc. grew its stake in shares of ARM by 24.5% in the first quarter. Valley National Advisers Inc. now owns 763 shares of the company's stock valued at $81,000 after buying an additional 150 shares in the last quarter. Institutional investors and hedge funds own 7.53% of the company's stock.

ARM Trading Up 2.0%

ARM stock traded up $3.18 during midday trading on Friday, hitting $163.17. The stock had a trading volume of 3,144,893 shares, compared to its average volume of 4,651,463. The firm has a market cap of $172.39 billion, a P/E ratio of 217.56, a price-to-earnings-growth ratio of 9.23 and a beta of 4.19. ARM Holdings PLC Sponsored ADR has a 1-year low of $80.00 and a 1-year high of $182.88. The business has a fifty day moving average price of $144.61 and a two-hundred day moving average price of $134.06.

ARM (NASDAQ:ARM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.03. ARM had a net margin of 19.76% and a return on equity of 17.97%. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the prior year, the business earned $0.36 earnings per share. The business's quarterly revenue was up 33.7% compared to the same quarter last year. On average, equities analysts anticipate that ARM Holdings PLC Sponsored ADR will post 0.9 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ARM shares. The Goldman Sachs Group started coverage on ARM in a research note on Thursday, July 10th. They set a "neutral" rating and a $160.00 price objective for the company. Morgan Stanley lowered their price objective on ARM from $175.00 to $150.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. Benchmark restated a "hold" rating on shares of ARM in a research note on Monday, June 9th. BNP Paribas upgraded ARM from a "neutral" rating to a "strong-buy" rating and raised their price objective for the company from $110.00 to $210.00 in a research note on Wednesday, July 16th. Finally, Raymond James Financial lowered their price objective on ARM from $175.00 to $140.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $161.04.

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.