Woodline Partners LP trimmed its holdings in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 78.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,802 shares of the company's stock after selling 167,436 shares during the period. Woodline Partners LP's holdings in ARM were worth $4,891,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also bought and sold shares of the business. Goldman Sachs Group Inc. grew its stake in ARM by 59.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,574,854 shares of the company's stock valued at $702,129,000 after buying an additional 2,446,224 shares in the last quarter. Sustainable Growth Advisers LP purchased a new position in ARM in the 1st quarter valued at approximately $170,287,000. American Century Companies Inc. grew its stake in ARM by 112.3% in the 1st quarter. American Century Companies Inc. now owns 703,365 shares of the company's stock valued at $75,112,000 after buying an additional 372,081 shares in the last quarter. Invesco Ltd. grew its stake in ARM by 9.5% in the 1st quarter. Invesco Ltd. now owns 576,020 shares of the company's stock valued at $61,513,000 after buying an additional 49,805 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in ARM by 26.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 438,926 shares of the company's stock valued at $47,285,000 after buying an additional 93,117 shares in the last quarter. 7.53% of the stock is currently owned by hedge funds and other institutional investors.
ARM Stock Performance
NASDAQ ARM opened at $150.64 on Friday. ARM Holdings PLC Sponsored ADR has a 52-week low of $80.00 and a 52-week high of $182.88. The company has a market capitalization of $159.15 billion, a P/E ratio of 228.24, a P/E/G ratio of 10.34 and a beta of 4.17. The company has a fifty day moving average of $145.03 and a 200-day moving average of $131.07.
ARM (NASDAQ:ARM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.35 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the firm posted $0.40 EPS. The firm's revenue was up 12.1% compared to the same quarter last year. As a group, analysts forecast that ARM Holdings PLC Sponsored ADR will post 0.9 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on ARM. Needham & Company LLC reiterated a "hold" rating on shares of ARM in a research note on Thursday, July 31st. The Goldman Sachs Group assumed coverage on shares of ARM in a report on Thursday, July 10th. They issued a "neutral" rating and a $160.00 price target for the company. Benchmark reissued a "hold" rating on shares of ARM in a report on Monday, June 9th. Raymond James Financial raised their price target on shares of ARM from $140.00 to $165.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Finally, Mizuho raised their price target on shares of ARM from $160.00 to $180.00 and gave the company an "outperform" rating in a report on Thursday, July 3rd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $168.52.
Read Our Latest Stock Analysis on ARM
ARM Profile
(
Free Report)
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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