TD Asset Management Inc Has $4.89 Million Position in ARM Holdings PLC Sponsored ADR $ARM

Key Points

• TD Asset Management Inc reduced its position in ARM Holdings PLC by 8.6% during the 2nd quarter, now holding shares worth $4.89 million.
• ARM's stock opened at $171.50 and has a 52-week range between $80.00 and $182.88, with a market cap of $181.19 billion.
• Analyst ratings for ARM include one "Strong Buy," eighteen "Buy," and a price target consensus of $167.43, highlighting positive sentiment among analysts.

TD Asset Management Inc reduced its holdings in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 8.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 30,216 shares of the company's stock after selling 2,841 shares during the period. TD Asset Management Inc's holdings in ARM were worth $4,887,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ARM. TFC Financial Management Inc. increased its stake in ARM by 163.4% in the 1st quarter. TFC Financial Management Inc. now owns 266 shares of the company's stock valued at $28,000 after buying an additional 165 shares during the last quarter. Brooklyn Investment Group acquired a new stake in ARM in the 1st quarter valued at $28,000. N.E.W. Advisory Services LLC acquired a new stake in ARM in the 1st quarter valued at $34,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in ARM in the 2nd quarter valued at $39,000. Finally, ORG Partners LLC acquired a new stake in ARM in the 2nd quarter valued at $48,000. 7.53% of the stock is currently owned by institutional investors and hedge funds.

ARM Stock Performance

Shares of ARM opened at $171.50 on Tuesday. ARM Holdings PLC Sponsored ADR has a 52 week low of $80.00 and a 52 week high of $182.88. The firm has a market cap of $181.19 billion, a P/E ratio of 259.85, a price-to-earnings-growth ratio of 10.80 and a beta of 4.10. The firm's 50-day simple moving average is $147.59 and its 200 day simple moving average is $138.16.

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

Analyst Ratings Changes

ARM has been the topic of several recent analyst reports. KeyCorp restated an "overweight" rating and set a $190.00 price objective (up from $175.00) on shares of ARM in a research note on Thursday, July 31st. UBS Group lowered their price objective on shares of ARM from $185.00 to $175.00 and set a "buy" rating on the stock in a research note on Thursday, July 31st. Evercore ISI boosted their price objective on shares of ARM from $173.00 to $178.00 and gave the stock an "outperform" rating in a research note on Thursday, September 11th. Needham & Company LLC restated a "hold" rating on shares of ARM in a research note on Thursday, July 31st. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, ARM currently has an average rating of "Moderate Buy" and a consensus price target of $167.43.

About ARM

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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