Exchange Traded Concepts LLC Sells 912 Shares of Arm Holdings plc (NASDAQ:ARM)

Exchange Traded Concepts LLC trimmed its holdings in shares of Arm Holdings plc (NASDAQ:ARM) by 2.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 38,930 shares of the company’s stock after selling 912 shares during the period. Exchange Traded Concepts LLC’s holdings in ARM were worth $4,802,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in ARM. ORG Partners LLC acquired a new stake in ARM during the third quarter valued at approximately $29,000. Gilliland Jeter Wealth Management LLC boosted its stake in ARM by 83.0% in the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock valued at $37,000 after buying an additional 117 shares in the last quarter. Quantbot Technologies LP bought a new stake in ARM in the third quarter valued at $52,000. Berbice Capital Management LLC acquired a new position in ARM during the fourth quarter worth $49,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of ARM by 45.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock valued at $60,000 after purchasing an additional 131 shares in the last quarter. 7.53% of the stock is currently owned by institutional investors and hedge funds.

ARM Stock Down 2.4 %

Shares of NASDAQ ARM opened at $162.52 on Friday. Arm Holdings plc has a twelve month low of $69.32 and a twelve month high of $188.75. The company’s fifty day moving average is $139.32 and its 200-day moving average is $141.18. The stock has a market cap of $170.29 billion, a price-to-earnings ratio of 270.87, a P/E/G ratio of 8.41 and a beta of 4.53.

ARM (NASDAQ:ARM) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.04. ARM had a return on equity of 13.69% and a net margin of 18.13%. The company had revenue of $844.00 million during the quarter, compared to the consensus estimate of $810.03 million. During the same period in the prior year, the company earned $0.36 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, research analysts anticipate that Arm Holdings plc will post 0.84 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ARM shares. JPMorgan Chase & Co. increased their target price on shares of ARM from $140.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Sanford C. Bernstein cut shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 target price for the company. in a research note on Thursday, October 31st. Susquehanna increased their price target on ARM from $118.00 to $140.00 and gave the stock a “neutral” rating in a research report on Wednesday. Barclays lifted their price objective on ARM from $145.00 to $155.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Finally, Loop Capital raised their target price on ARM from $130.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $152.09.

About ARM

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.