Virtu Financial LLC Sells 48,662 Shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM)

Key Points

• Virtu Financial LLC reduced its stake in ARM Holdings by 71.6%, now holding 19,318 shares worth approximately $2.06 million after selling 48,662 shares in the first quarter.
• Several institutional investors, including Geode Capital Management and Bank of Montreal, increased their stakes in ARM during the previous quarter, reflecting a growing interest in the company.
• ARM's earnings per share for the last quarter was reported at $0.35, marginally surpassing analyst expectations, while the company's revenue was up 12.1% year-over-year.

Virtu Financial LLC reduced its position in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 71.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,318 shares of the company's stock after selling 48,662 shares during the period. Virtu Financial LLC's holdings in ARM were worth $2,063,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ARM. Invesco Ltd. increased its position in ARM by 9.5% during the 1st quarter. Invesco Ltd. now owns 576,020 shares of the company's stock worth $61,513,000 after purchasing an additional 49,805 shares in the last quarter. AFT Forsyth & Company Inc. lifted its holdings in ARM by 2.5% during the 1st quarter. AFT Forsyth & Company Inc. now owns 16,351 shares of the company's stock worth $1,746,000 after buying an additional 400 shares during the last quarter. Pandora Wealth Inc. bought a new stake in shares of ARM during the 1st quarter valued at about $53,000. Cynosure Group LLC boosted its position in ARM by 26.1% during the 1st quarter. Cynosure Group LLC now owns 2,765 shares of the company's stock valued at $295,000 after purchasing an additional 572 shares during the period. Finally, Townsquare Capital LLC increased its holdings in shares of ARM by 1,472.9% in the 1st quarter. Townsquare Capital LLC now owns 66,975 shares of the company's stock worth $7,152,000 after acquiring an additional 62,717 shares during the period. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. UBS Group decreased their price objective on ARM from $185.00 to $175.00 and set a "buy" rating for the company in a report on Thursday, July 31st. Guggenheim raised their price objective on shares of ARM from $147.00 to $187.00 and gave the company a "buy" rating in a research note on Monday, June 30th. BNP Paribas Exane upgraded ARM from a "neutral" rating to an "outperform" rating and set a $210.00 price target on the stock in a research report on Wednesday, July 16th. Wells Fargo & Company lifted their target price on ARM from $145.00 to $175.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. Finally, BNP Paribas upgraded shares of ARM from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $110.00 to $210.00 in a research report on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $169.67.

ARM Trading Down 0.7%

ARM stock traded down $1.05 during midday trading on Thursday, reaching $140.55. The company's stock had a trading volume of 4,870,177 shares, compared to its average volume of 5,503,031. ARM Holdings PLC Sponsored ADR has a 52 week low of $80.00 and a 52 week high of $182.88. The stock has a market cap of $148.49 billion, a PE ratio of 212.95, a price-to-earnings-growth ratio of 9.52 and a beta of 4.17. The business has a 50-day moving average price of $148.59 and a 200-day moving average price of $133.49.

ARM (NASDAQ:ARM - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.35 earnings per share (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 company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the company earned $0.40 EPS. ARM's quarterly revenue was up 12.1% compared to the same quarter last year. As a group, research analysts predict that ARM Holdings PLC Sponsored ADR will post 0.9 EPS for the current fiscal year.

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.