NewEdge Advisors LLC Sells 3,634 Shares of ARM Holdings PLC Sponsored ADR $ARM

Key Points

• NewEdge Advisors LLC has reduced its stake in ARM Holdings PLC by 10%, selling 3,634 shares in the first quarter, leaving it with a total of 32,874 shares valued at approximately $3.5 million.
• Wall Street analysts have given ARM a consensus rating of "Moderate Buy" with an average price target of $169.67, influenced by several upgrades and downgrades from various financial institutions.
• ARM reported quarterly earnings with a 12.1% year-over-year revenue increase, posting $1.05 billion in revenue and $0.35 EPS, slightly beating analysts' expectations.

NewEdge Advisors LLC cut its holdings in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 10.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,874 shares of the company's stock after selling 3,634 shares during the quarter. NewEdge Advisors LLC's holdings in ARM were worth $3,511,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Brooklyn Investment Group acquired a new position in ARM during the first quarter worth $28,000. TFC Financial Management Inc. boosted its stake in shares of 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 acquiring an additional 165 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new position in shares of ARM during the 1st quarter valued at about $34,000. MorganRosel Wealth Management LLC bought a new position in shares of ARM in the 1st quarter valued at approximately $53,000. Finally, Pandora Wealth Inc. acquired a new stake in ARM in the 1st quarter worth approximately $53,000. Institutional investors and hedge funds own 7.53% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ARM shares. Wells Fargo & Company boosted their price objective on shares of ARM from $145.00 to $175.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Loop Capital cut their target price 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. BNP Paribas raised ARM from a "neutral" rating to an "outperform" rating and raised their price target for the company from $110.00 to $210.00 in a research report on Wednesday, July 16th. UBS Group dropped their price objective on ARM from $185.00 to $175.00 and set a "buy" rating on the stock in a research note on Thursday, July 31st. Finally, KeyCorp restated an "overweight" rating and set a $190.00 target price (up previously from $175.00) on shares of ARM in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, ARM currently has a consensus rating of "Moderate Buy" and an average price target of $169.67.

ARM Stock Performance

NASDAQ ARM opened at $140.80 on Wednesday. The firm has a 50-day simple moving average of $145.13 and a 200 day simple moving average of $130.72. The stock has a market cap of $148.76 billion, a PE ratio of 213.33, a PEG ratio of 9.30 and a beta of 4.17. ARM Holdings PLC Sponsored ADR has a twelve month low of $80.00 and a twelve month high of $182.88.

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

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.

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