Perigon Wealth Management LLC Has $592,000 Stake in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM)

Perigon Wealth Management LLC cut its stake in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 43.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,539 shares of the company's stock after selling 4,318 shares during the period. Perigon Wealth Management LLC's holdings in ARM were worth $592,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ARM. GeoWealth Management LLC increased its position in ARM by 53.8% during the fourth quarter. GeoWealth Management LLC now owns 263 shares of the company's stock worth $32,000 after acquiring an additional 92 shares during the period. Cibc World Markets Corp grew its position in shares of ARM by 3.5% during the 4th quarter. Cibc World Markets Corp now owns 2,838 shares of the company's stock worth $350,000 after purchasing an additional 96 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in shares of ARM by 2.0% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 4,929 shares of the company's stock worth $608,000 after purchasing an additional 96 shares during the period. Viawealth LLC raised its position in shares of ARM by 4.8% in the fourth quarter. Viawealth LLC now owns 2,200 shares of the company's stock valued at $271,000 after buying an additional 100 shares in the last quarter. Finally, Holderness Investments Co. boosted its stake in shares of ARM by 6.7% in the fourth quarter. Holderness Investments Co. now owns 1,761 shares of the company's stock valued at $217,000 after buying an additional 110 shares during the period. Institutional investors own 7.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. KeyCorp lowered their price objective on ARM from $195.00 to $175.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Barclays reduced their target price on ARM from $125.00 to $115.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Loop Capital dropped their price target on ARM from $195.00 to $155.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Wells Fargo & Company reduced their price objective on shares of ARM from $150.00 to $145.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Finally, Raymond James Financial decreased their target price on shares of ARM from $175.00 to $140.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $154.67.

ARM Stock Down 3.3%

ARM traded down $5.41 during midday trading on Tuesday, hitting $156.33. 6,366,450 shares of the company were exchanged, compared to its average volume of 6,221,510. The firm's 50 day moving average price is $131.50 and its 200-day moving average price is $131.42. ARM Holdings PLC Sponsored ADR has a 1-year low of $80.00 and a 1-year high of $188.75. The firm has a market capitalization of $165.59 billion, a P/E ratio of 152.59, a P/E/G ratio of 7.43 and a beta of 4.19.

ARM (NASDAQ:ARM - Get Free Report) last announced 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. ARM had a return on equity of 17.97% and a net margin of 19.76%. The business had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $1.23 billion. During the same period in the prior year, the business posted $0.36 earnings per share. The firm's revenue was up 33.7% on a year-over-year basis. On average, sell-side analysts predict 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.