Smith Group Asset Management LLC Lowers Stock Holdings in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM)

Smith Group Asset Management LLC decreased its stake in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 20.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,200 shares of the company's stock after selling 4,800 shares during the period. Smith Group Asset Management LLC's holdings in ARM were worth $2,050,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. MorganRosel Wealth Management LLC acquired a new stake in ARM in the first quarter valued at $53,000. Valley National Advisers Inc. increased 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 during the period. Crown Wealth Group LLC raised its position in shares of ARM by 8.3% during the first quarter. Crown Wealth Group LLC now owns 2,604 shares of the company's stock worth $278,000 after acquiring an additional 200 shares during the last quarter. Convergence Financial LLC raised its position in shares of ARM by 2.0% during the first quarter. Convergence Financial LLC now owns 6,991 shares of the company's stock worth $747,000 after acquiring an additional 136 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of ARM by 15.2% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 33,987 shares of the company's stock worth $3,629,000 after acquiring an additional 4,493 shares during the period. Institutional investors and hedge funds own 7.53% of the company's stock.

ARM Price Performance

Shares of ARM stock traded down $5.41 during trading hours on Tuesday, hitting $156.33. 6,366,450 shares of the company's stock traded hands, compared to its average volume of 6,230,112. The stock has a market capitalization of $165.59 billion, a price-to-earnings ratio of 208.44, a PEG ratio of 7.60 and a beta of 4.10. ARM Holdings PLC Sponsored ADR has a 12-month low of $80.00 and a 12-month high of $188.75. The company has a fifty day simple moving average of $131.50 and a 200-day simple moving average of $131.42.

ARM (NASDAQ:ARM - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.55 EPS for the quarter, topping analysts' consensus estimates of $0.52 by $0.03. The company had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $1.23 billion. ARM had a net margin of 19.76% and a return on equity of 17.97%. ARM's revenue was up 33.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 EPS. On average, analysts forecast that ARM Holdings PLC Sponsored ADR will post 0.9 EPS for the current fiscal year.

Analyst Ratings Changes

ARM has been the subject of several recent analyst reports. Citigroup decreased their price objective 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. Barclays cut their target price on ARM from $125.00 to $115.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Bank of America cut their price target on ARM from $144.00 to $135.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Rosenblatt Securities lowered their price objective on shares of ARM from $203.00 to $180.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Finally, Morgan Stanley dropped their target price on shares of ARM from $175.00 to $150.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, ARM currently has an average rating of "Moderate Buy" and an average target price of $154.67.

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.