Exchange Traded Concepts LLC Sells 906 Shares of Arm Holdings plc (NASDAQ:ARM)

Exchange Traded Concepts LLC lowered its holdings in shares of Arm Holdings plc (NASDAQ:ARM) by 2.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 39,842 shares of the company’s stock after selling 906 shares during the period. Exchange Traded Concepts LLC’s holdings in ARM were worth $5,698,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Westend Capital Management LLC lifted its holdings in shares of ARM by 62.6% in the 3rd quarter. Westend Capital Management LLC now owns 82,329 shares of the company’s stock worth $11,774,000 after purchasing an additional 31,688 shares in the last quarter. Ritholtz Wealth Management boosted its holdings in ARM by 23.2% during the third quarter. Ritholtz Wealth Management now owns 2,764 shares of the company’s stock worth $395,000 after purchasing an additional 520 shares during the last quarter. RFG Holdings Inc. bought a new position in shares of ARM in the third quarter valued at approximately $216,000. Juncture Wealth Strategies LLC bought a new position in ARM in the 3rd quarter valued at $256,000. Finally, Franklin Street Advisors Inc. NC increased its holdings in ARM by 32.5% during the third quarter. Franklin Street Advisors Inc. NC now owns 109,158 shares of the company’s stock worth $15,611,000 after buying an additional 26,804 shares during the last quarter. 7.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ARM has been the topic of several research reports. Sanford C. Bernstein raised shares of ARM from an “underperform” rating to a “market perform” rating and boosted their price target for the company from $92.00 to $100.00 in a research report on Wednesday, August 7th. William Blair initiated coverage on ARM in a report on Wednesday, September 18th. They set an “outperform” rating for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $180.00 target price on shares of ARM in a research report on Thursday, August 1st. HSBC cut shares of ARM from a “hold” rating to a “reduce” rating in a research report on Monday, July 29th. Finally, Citigroup lifted their price objective on ARM from $150.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $134.91.

ARM Stock Up 1.4 %

ARM opened at $151.46 on Monday. Arm Holdings plc has a 52-week low of $46.50 and a 52-week high of $188.75. The company has a market cap of $158.70 billion and a price-to-earnings ratio of 388.37. The firm’s fifty day simple moving average is $132.98 and its two-hundred day simple moving average is $134.17.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.05. The firm had revenue of $939.00 million during the quarter, compared to analysts’ expectations of $905.53 million. ARM had a net margin of 12.12% and a return on equity of 18.97%. ARM’s revenue was up 39.1% compared to the same quarter last year. During the same period last year, the business earned $0.24 earnings per share. On average, research analysts forecast that Arm Holdings plc will post 0.86 EPS for the current year.

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.