Insigneo Advisory Services LLC Cuts Position in Arm Holdings plc (NASDAQ:ARM)

Insigneo Advisory Services LLC trimmed its position in shares of Arm Holdings plc (NASDAQ:ARM) by 27.0% during the third quarter, Holdings Channel reports. The institutional investor owned 2,639 shares of the company’s stock after selling 974 shares during the quarter. Insigneo Advisory Services LLC’s holdings in ARM were worth $377,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. State Street Corp increased its stake in shares of ARM by 19.2% during the third quarter. State Street Corp now owns 221,854 shares of the company’s stock worth $31,727,000 after buying an additional 35,720 shares during the period. Stifel Financial Corp increased its stake in ARM by 11.0% in the third quarter. Stifel Financial Corp now owns 41,170 shares of the company’s stock valued at $5,888,000 after purchasing an additional 4,094 shares during the last quarter. Quantinno Capital Management LP purchased a new position in ARM in the third quarter valued at approximately $297,000. Reynders McVeigh Capital Management LLC purchased a new position in ARM in the third quarter valued at approximately $5,293,000. Finally, Morse Asset Management Inc purchased a new position in ARM in the third quarter valued at approximately $212,000. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on ARM. Raymond James began coverage on shares of ARM in a research note on Friday, September 13th. They issued an “outperform” rating and a $160.00 price target on the stock. Barclays increased their price target on shares of ARM from $125.00 to $145.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. William Blair began coverage on shares of ARM in a research note on Wednesday, September 18th. They issued an “outperform” rating on the stock. Evercore ISI increased their price target on shares of ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. increased their price objective on ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $150.32.

ARM Stock Performance

Shares of NASDAQ ARM opened at $140.89 on Monday. The firm has a market capitalization of $147.63 billion, a P/E ratio of 234.82, a PEG ratio of 7.06 and a beta of 4.67. Arm Holdings plc has a one year low of $61.20 and a one year high of $188.75. The company’s fifty day moving average is $142.48 and its two-hundred day moving average is $142.67.

ARM (NASDAQ:ARM) last issued its earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.26 by $0.04. The company had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.36 EPS. On average, sell-side analysts forecast that Arm Holdings plc will post 0.79 earnings per share for the current fiscal 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.