Truist Financial Corp Sells 13,108 Shares of Arm Holdings plc (NASDAQ:ARM)

Truist Financial Corp decreased its position in shares of Arm Holdings plc (NASDAQ:ARM - Free Report) by 49.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 13,580 shares of the company's stock after selling 13,108 shares during the period. Truist Financial Corp's holdings in ARM were worth $1,020,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ARM. Jennison Associates LLC lifted its holdings in shares of ARM by 15.7% during the 4th quarter. Jennison Associates LLC now owns 7,346,660 shares of the company's stock worth $552,065,000 after acquiring an additional 994,551 shares during the period. FMR LLC purchased a new position in ARM during the third quarter worth approximately $242,812,000. Wellington Management Group LLP acquired a new position in shares of ARM in the 3rd quarter valued at $152,896,000. Invesco Ltd. purchased a new stake in shares of ARM during the 3rd quarter valued at $143,092,000. Finally, Intel Corp acquired a new stake in shares of ARM during the 3rd quarter worth $62,965,000. Institutional investors and hedge funds own 7.53% of the company's stock.

ARM Trading Down 0.5 %

NASDAQ:ARM traded down 0.58 during trading hours on Tuesday, reaching 116.65. 8,033,000 shares of the stock were exchanged, compared to its average volume of 14,059,194. The firm has a 50 day simple moving average of 118.58 and a 200-day simple moving average of 92.53. Arm Holdings plc has a 52 week low of 46.50 and a 52 week high of 164.00.

ARM (NASDAQ:ARM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The company reported 0.36 earnings per share for the quarter, topping analysts' consensus estimates of 0.30 by 0.06. The business had revenue of 928.00 million for the quarter, compared to analysts' expectations of 865.94 million. ARM had a return on equity of 16.94% and a net margin of 9.46%. The business's quarterly revenue was up 46.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.02 EPS. On average, analysts predict that Arm Holdings plc will post 0.93 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ARM. Wells Fargo & Company raised their price target on shares of ARM from $100.00 to $115.00 and gave the company an "overweight" rating in a report on Monday, April 29th. TD Cowen lifted their target price on shares of ARM from $80.00 to $95.00 and gave the company an "outperform" rating in a report on Thursday, February 8th. Susquehanna reaffirmed a "neutral" rating and set a $85.00 price target on shares of ARM in a research report on Thursday, April 4th. Rosenblatt Securities reissued a "buy" rating and issued a $180.00 price objective on shares of ARM in a research report on Monday, May 6th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of ARM in a research report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of 91.64.

ARM Company Profile

Arm Holdings plc architects, develops, and licenses central processing unit products and related technologies for semiconductor companies and original equipment manufacturers rely on to develop products. It offers microprocessors, systems intellectual property (IPs), graphics processing units, physical IP and associated systems IPs, software, tools, and other related services.