Arm Holdings plc (NASDAQ:ARM) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its stake in shares of Arm Holdings plc (NASDAQ:ARM) by 8.3% during the fourth quarter, HoldingsChannel reports. The firm owned 213,883 shares of the company’s stock after selling 19,408 shares during the period. New York State Common Retirement Fund’s holdings in ARM were worth $16,072,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of ARM. Hoey Investments Inc. purchased a new stake in shares of ARM during the third quarter worth about $27,000. Centerpoint Advisors LLC bought a new stake in ARM in the third quarter valued at about $32,000. Ancora Advisors LLC bought a new stake in ARM in the third quarter valued at about $32,000. Bamco Inc. NY bought a new stake in ARM in the third quarter valued at about $37,000. Finally, Westside Investment Management Inc. bought a new position in shares of ARM during the third quarter valued at approximately $43,000. Institutional investors and hedge funds own 7.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ARM shares. TD Cowen upped their target price on ARM from $80.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday, February 8th. Barclays upped their target price on ARM from $65.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. JPMorgan Chase & Co. upped their target price on ARM from $70.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Evercore ISI assumed coverage on ARM in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $156.00 target price for the company. Finally, Mizuho increased their price objective on ARM from $100.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of 90.28.

ARM Stock Up 4.1 %

NASDAQ ARM opened at 101.95 on Monday. Arm Holdings plc has a 1-year low of 46.50 and a 1-year high of 164.00. The firm’s fifty day simple moving average is 125.07 and its 200-day simple moving average is 88.36.

ARM (NASDAQ:ARM) last posted its quarterly earnings results on Wednesday, February 7th. The company reported 0.29 earnings per share for the quarter, topping analysts’ consensus estimates of 0.25 by 0.04. The company had revenue of 824.00 million during the quarter, compared to analyst estimates of 762.50 million. The firm’s revenue was up 13.8% compared to the same quarter last year. As a group, equities analysts anticipate that Arm Holdings plc will post 0.36 earnings per share 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.