Smith Group Asset Management LLC Sells 8,900 Shares of ARM Holdings PLC Sponsored ADR $ARM

Key Points

• Smith Group Asset Management LLC reduced its holdings in ARM Holdings PLC by 46.4%, selling 8,900 shares to hold 10,300 shares worth approximately $1.67 million.
• Financial analysts have shown positive sentiment towards ARM, with multiple firms raising their target prices, notably BNP Paribas increasing their target from $110 to $210 and issuing an "outperform" rating.
• ARM's recent earnings report showed $0.35 EPS, slightly surpassing analyst expectations, and a revenue of $1.05 billion, indicating a 12.1% revenue growth year-over-year.

Smith Group Asset Management LLC lowered its position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 46.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,300 shares of the company's stock after selling 8,900 shares during the quarter. Smith Group Asset Management LLC's holdings in ARM were worth $1,666,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Oliver Lagore Vanvalin Investment Group bought a new position in shares of ARM during the 2nd quarter worth approximately $39,000. Brooklyn Investment Group bought a new position in shares of ARM during the 1st quarter worth approximately $28,000. TFC Financial Management Inc. lifted its position 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 buying an additional 165 shares during the period. ORG Partners LLC bought a new position in shares of ARM during the 2nd quarter worth approximately $48,000. Finally, N.E.W. Advisory Services LLC bought a new position in shares of ARM during the 1st quarter worth approximately $34,000. Institutional investors own 7.53% of the company's stock.

Wall Street Analysts Forecast Growth

ARM has been the subject of several analyst reports. The Goldman Sachs Group initiated coverage on ARM in a research report on Thursday, July 10th. They set a "neutral" rating and a $160.00 target price for the company. Raymond James Financial raised their target price on ARM from $140.00 to $165.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. BNP Paribas Exane upgraded ARM from a "neutral" rating to an "outperform" rating and set a $210.00 target price for the company in a research report on Wednesday, July 16th. Guggenheim boosted their price objective on ARM from $147.00 to $187.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. Finally, BNP Paribas upgraded ARM from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $110.00 to $210.00 in a report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $168.14.

ARM Stock Up 0.5%

Shares of ARM stock opened at $166.60 on Friday. The business has a fifty day simple moving average of $149.14 and a 200 day simple moving average of $139.11. The stock has a market cap of $176.01 billion, a PE ratio of 252.42, a price-to-earnings-growth ratio of 10.41 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 $182.88.

ARM (NASDAQ:ARM - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.01. The business 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 firm's revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.40 earnings per share. Analysts expect that ARM Holdings PLC Sponsored ADR will post 0.9 EPS for the current fiscal 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.

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