Parallel Advisors LLC Trims Stock Position in Arm Holdings plc (NASDAQ:ARM)

Parallel Advisors LLC reduced its stake in shares of Arm Holdings plc (NASDAQ:ARMFree Report) by 8.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,052 shares of the company’s stock after selling 99 shares during the quarter. Parallel Advisors LLC’s holdings in ARM were worth $79,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC bought a new stake in shares of ARM during the 3rd quarter valued at $242,812,000. Wellington Management Group LLP bought a new position in ARM in the 3rd quarter worth about $152,896,000. Invesco Ltd. bought a new position in ARM in the 3rd quarter worth about $143,092,000. Loomis Sayles & Co. L P bought a new position in ARM in the 3rd quarter worth about $57,004,000. Finally, American Century Companies Inc. bought a new position in ARM in the 3rd quarter worth about $54,800,000. 7.53% of the stock is owned by hedge funds and other institutional investors.

ARM Stock Up 8.6 %

Shares of ARM opened at 136.67 on Thursday. Arm Holdings plc has a 1 year low of 46.50 and a 1 year high of 164.00. The company has a 50 day simple moving average of 114.12 and a two-hundred day simple moving average of 100.07.

ARM (NASDAQ:ARMGet Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The company reported 0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of 0.30 by 0.06. ARM had a net margin of 9.46% and a return on equity of 16.94%. The business had revenue of 928.00 million during the quarter, compared to analyst estimates of 865.94 million. During the same period last year, the firm posted $0.02 EPS. The company’s revenue was up 46.6% on a year-over-year basis. On average, analysts forecast that Arm Holdings plc will post 0.85 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ARM. JPMorgan Chase & Co. upped their price target on shares of ARM from $70.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Mizuho upped their target price on shares of ARM from $100.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. The Goldman Sachs Group upped their target price on shares of ARM from $95.00 to $108.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. KeyCorp upped their target price on shares of ARM from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Finally, Daiwa Capital Markets cut shares of ARM from a “buy” rating to a “neutral” rating and upped their target price for the company from $63.00 to $130.00 in a research note on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of 93.48.

View Our Latest Stock Report on ARM

ARM Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for ARM (NASDAQ:ARM)

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