Arm Holdings plc (NASDAQ:ARM) Shares Sold by Acadian Asset Management LLC

Acadian Asset Management LLC reduced its position in Arm Holdings plc (NASDAQ:ARM) by 51.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,910 shares of the company’s stock after selling 12,614 shares during the period. Acadian Asset Management LLC’s holdings in ARM were worth $1,945,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. RiverPark Advisors LLC raised its stake in shares of ARM by 45.3% during the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after buying an additional 77 shares during the period. BOKF NA lifted its holdings in ARM by 33.3% during the first quarter. BOKF NA now owns 400 shares of the company’s stock valued at $51,000 after purchasing an additional 100 shares in the last quarter. Comerica Bank grew its position in shares of ARM by 6.1% in the first quarter. Comerica Bank now owns 1,780 shares of the company’s stock valued at $222,000 after purchasing an additional 103 shares during the period. Naples Money Management LLC increased its stake in shares of ARM by 47.8% during the first quarter. Naples Money Management LLC now owns 340 shares of the company’s stock worth $42,000 after purchasing an additional 110 shares in the last quarter. Finally, Schwarz Dygos Wheeler Investment Advisors LLC increased its stake in shares of ARM by 2.9% during the first quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 5,159 shares of the company’s stock worth $645,000 after purchasing an additional 145 shares in the last quarter. 7.53% of the stock is owned by hedge funds and other institutional investors.

ARM Stock Performance

Shares of ARM stock opened at $147.37 on Friday. The firm has a market cap of $154.42 billion and a P/E ratio of 149.28. The firm’s 50 day moving average price is $139.85 and its 200-day moving average price is $132.82. Arm Holdings plc has a one year low of $46.50 and a one year high of $188.75.

ARM (NASDAQ:ARM) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. ARM had a return on equity of 18.97% and a net margin of 12.12%. The company had revenue of $939.00 million for the quarter, compared to analysts’ expectations of $905.53 million. During the same period in the prior year, the firm earned $0.24 earnings per share. The firm’s revenue was up 39.1% compared to the same quarter last year. As a group, research analysts predict that Arm Holdings plc will post 0.82 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Barclays lifted their price objective on ARM from $105.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Raymond James assumed coverage on ARM in a research note on Friday. They issued an “outperform” rating and a $160.00 price target on the stock. The Goldman Sachs Group increased their price objective on ARM from $110.00 to $143.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. Sanford C. Bernstein raised shares of ARM from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $92.00 to $100.00 in a research note on Wednesday, August 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ARM in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $123.04.

ARM 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.