Allworth Financial LP Trims Stock Position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM)

Allworth Financial LP cut its stake in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 33.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 679 shares of the company’s stock after selling 344 shares during the period. Allworth Financial LP’s holdings in ARM were worth $76,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its holdings in shares of ARM by 41.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 26,191 shares of the company’s stock worth $3,231,000 after purchasing an additional 7,734 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of ARM by 108.6% during the 4th quarter. Farther Finance Advisors LLC now owns 870 shares of the company’s stock worth $107,000 after purchasing an additional 453 shares during the period. Commonwealth Equity Services LLC increased its holdings in ARM by 17.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 51,341 shares of the company’s stock valued at $6,333,000 after buying an additional 7,695 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in ARM by 6.7% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,127 shares of the company’s stock valued at $262,000 after purchasing an additional 133 shares during the last quarter. Finally, Harbour Investments Inc. raised its position in ARM by 40.1% during the fourth quarter. Harbour Investments Inc. now owns 902 shares of the company’s stock worth $111,000 after acquiring an additional 258 shares during the last quarter. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ARM has been the subject of several recent analyst reports. Citigroup lowered their target price on shares of ARM from $200.00 to $170.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. Rosenblatt Securities lowered their price target on ARM from $203.00 to $180.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Wells Fargo & Company decreased their price target on ARM from $150.00 to $145.00 and set an “overweight” rating for the company in a report on Thursday, May 8th. Benchmark reissued a “hold” rating on shares of ARM in a report on Monday, June 9th. Finally, Bank of America cut their target price on shares of ARM from $144.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $158.87.

ARM Stock Up 2.1%

Shares of NASDAQ ARM opened at $157.18 on Friday. The company’s fifty day moving average is $140.85 and its 200-day moving average is $133.03. ARM Holdings PLC Sponsored ADR has a twelve month low of $80.00 and a twelve month high of $182.88. The stock has a market cap of $166.06 billion, a price-to-earnings ratio of 209.57, a P/E/G ratio of 7.07 and a beta of 4.19.

ARM (NASDAQ:ARM) last issued its earnings results on Wednesday, May 7th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.52 by $0.03. ARM had a return on equity of 17.97% and a net margin of 19.76%. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the company posted $0.36 EPS. The firm’s revenue for the quarter was up 33.7% compared to the same quarter last year. On average, research analysts anticipate that ARM Holdings PLC Sponsored ADR will post 0.9 EPS for the current fiscal year.

About ARM

Arm Holdings Plc engages in the licensing, marketing, research, and development of microprocessors, systems IP, graphics processing units, physical IP and associated systems IP, software, and tools. It operates through the following geographical segments: United Kingdom, United States, and Other Countries.