Arm Holdings plc (NASDAQ:ARM) Shares Sold by GAM Holding AG

GAM Holding AG cut its stake in Arm Holdings plc (NASDAQ:ARM) by 2.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,697 shares of the company’s stock after selling 401 shares during the period. GAM Holding AG’s holdings in ARM were worth $2,817,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ARM. Mark Sheptoff Financial Planning LLC purchased a new position in ARM in the first quarter valued at approximately $25,000. Transcendent Capital Group LLC purchased a new position in ARM in the second quarter valued at approximately $33,000. ORG Partners LLC purchased a new position in ARM in the third quarter valued at approximately $29,000. RiverPark Advisors LLC raised its holdings in ARM by 45.3% in the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after buying an additional 77 shares during the period. Finally, Mather Group LLC. purchased a new position in ARM in the second quarter valued at approximately $41,000. 7.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ARM has been the topic of several research reports. William Blair initiated coverage on shares of ARM in a report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Needham & Company LLC reiterated a “hold” rating on shares of ARM in a research note on Thursday, August 1st. Benchmark initiated coverage on shares of ARM in a research note on Monday, September 16th. They set a “hold” rating on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $180.00 price objective on shares of ARM in a research note on Thursday, August 1st. Finally, Sanford C. Bernstein upgraded shares of ARM from an “underperform” rating to a “market perform” rating and lifted their price objective for the company from $92.00 to $100.00 in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, ARM currently has an average rating of “Moderate Buy” and an average target price of $138.57.

ARM Stock Performance

Shares of ARM opened at $152.58 on Wednesday. Arm Holdings plc has a 1 year low of $46.50 and a 1 year high of $188.75. The company has a market cap of $159.88 billion and a price-to-earnings ratio of 391.24. The firm has a fifty day moving average of $138.38 and a 200-day moving average of $135.61.

ARM (NASDAQ:ARM) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05. The company had revenue of $939.00 million during the quarter, compared to the consensus estimate of $905.53 million. ARM had a net margin of 12.12% and a return on equity of 18.97%. The company’s revenue for the quarter was up 39.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 earnings per share. Analysts predict that Arm Holdings plc will post 0.86 EPS for the current year.

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.