Voya Investment Management LLC Sells 8,846 Shares of ARM Holdings PLC Sponsored ADR $ARM

Voya Investment Management LLC cut its position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 4.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 205,838 shares of the company's stock after selling 8,846 shares during the quarter. Voya Investment Management LLC's holdings in ARM were worth $21,928,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. TFC Financial Management Inc. grew its stake in shares of ARM by 163.4% during the first quarter. TFC Financial Management Inc. now owns 266 shares of the company's stock worth $28,000 after acquiring an additional 165 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of ARM during the first quarter worth about $28,000. N.E.W. Advisory Services LLC purchased a new stake in shares of ARM during the first quarter worth about $34,000. MorganRosel Wealth Management LLC purchased a new stake in shares of ARM during the first quarter worth about $53,000. Finally, Pandora Wealth Inc. purchased a new stake in shares of ARM during the first quarter worth about $53,000. 7.53% of the stock is currently owned by institutional investors.

ARM Stock Down 2.6%

Shares of NASDAQ ARM opened at $150.64 on Monday. The business's 50 day moving average price is $145.03 and its 200 day moving average price is $131.02. The firm has a market cap of $159.15 billion, a P/E ratio of 228.24, a P/E/G ratio of 10.07 and a beta of 4.17. ARM Holdings PLC Sponsored ADR has a 52 week low of $80.00 and a 52 week 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, topping the consensus estimate of $0.34 by $0.01. ARM had a return on equity of 15.56% and a net margin of 16.96%.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 firm posted $0.40 EPS. The business's quarterly revenue was up 12.1% compared to the same quarter last year. As a group, research analysts expect that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ARM. TD Cowen boosted their price target on ARM from $155.00 to $175.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Benchmark restated a "hold" rating on shares of ARM in a research note on Monday, June 9th. Wells Fargo & Company boosted their price target on ARM from $145.00 to $175.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Evercore ISI upped their target price on ARM from $173.00 to $178.00 and gave the company an "outperform" rating in a research report on Thursday. Finally, KeyCorp reiterated an "overweight" rating and issued a $190.00 target price (up previously from $175.00) on shares of ARM in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $168.52.

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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