PFG Investments LLC Trims Stock Position in Arm Holdings plc (NASDAQ:ARM)

PFG Investments LLC lowered its stake in shares of Arm Holdings plc (NASDAQ:ARM) by 8.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 18,194 shares of the company’s stock after selling 1,619 shares during the period. PFG Investments LLC’s holdings in ARM were worth $2,244,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of ARM. Envestnet Asset Management Inc. raised its stake in shares of ARM by 20.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 37,902 shares of the company’s stock valued at $6,202,000 after buying an additional 6,311 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of ARM during the 2nd quarter valued at about $5,684,000. AXA S.A. acquired a new stake in shares of ARM during the 2nd quarter valued at about $4,335,000. Creative Planning grew its position in shares of ARM by 438.5% during the 2nd quarter. Creative Planning now owns 31,601 shares of the company’s stock valued at $5,171,000 after acquiring an additional 25,733 shares during the period. Finally, NewEdge Advisors LLC grew its position in shares of ARM by 54.1% during the 2nd quarter. NewEdge Advisors LLC now owns 34,386 shares of the company’s stock valued at $5,626,000 after acquiring an additional 12,078 shares during the period. Hedge funds and other institutional investors own 7.53% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on ARM. Evercore ISI raised their target price on ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Susquehanna raised their target price on ARM from $118.00 to $140.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Sanford C. Bernstein cut ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price objective on the stock. in a report on Thursday, October 31st. Wells Fargo & Company lifted their price objective on ARM from $155.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Finally, TD Cowen lifted their price objective on ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $152.09.

ARM Stock Performance

ARM stock opened at $162.52 on Monday. The firm has a market cap of $170.29 billion, a PE ratio of 270.87, a PEG ratio of 8.41 and a beta of 4.53. The firm’s 50 day moving average price is $140.00 and its 200-day moving average price is $140.74. Arm Holdings plc has a one year low of $69.32 and a one year high of $188.75.

ARM (NASDAQ:ARM) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.26 by $0.04. The firm 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 for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.36 EPS. Equities research analysts predict that Arm Holdings plc will post 0.84 EPS 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.