Bank of New York Mellon Corp Sells 3,340 Shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM)

Bank of New York Mellon Corp reduced its stake in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 3.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 101,960 shares of the company’s stock after selling 3,340 shares during the period. Bank of New York Mellon Corp’s holdings in ARM were worth $10,888,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Schroder Investment Management Group increased its holdings in ARM by 17.9% during the 4th quarter. Schroder Investment Management Group now owns 3,054,331 shares of the company’s stock worth $376,782,000 after acquiring an additional 464,719 shares during the period. Artisan Partners Limited Partnership grew its position in shares of ARM by 48.1% during the 4th quarter. Artisan Partners Limited Partnership now owns 2,651,489 shares of the company’s stock valued at $327,088,000 after purchasing an additional 860,716 shares in the last quarter. FMR LLC increased its holdings in shares of ARM by 6.4% in the fourth quarter. FMR LLC now owns 2,199,197 shares of the company’s stock worth $271,293,000 after purchasing an additional 133,034 shares during the period. First Trust Advisors LP increased its holdings in shares of ARM by 1.9% in the fourth quarter. First Trust Advisors LP now owns 888,817 shares of the company’s stock worth $109,644,000 after purchasing an additional 16,400 shares during the period. Finally, Polar Capital Holdings Plc raised its position in shares of ARM by 11.3% in the fourth quarter. Polar Capital Holdings Plc now owns 763,939 shares of the company’s stock worth $94,240,000 after buying an additional 77,420 shares in the last quarter. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

ARM Stock Performance

Shares of ARM stock opened at $156.74 on Monday. The company has a market capitalization of $165.60 billion, a P/E ratio of 208.99, a PEG ratio of 9.04 and a beta of 4.19. ARM Holdings PLC Sponsored ADR has a fifty-two week low of $80.00 and a fifty-two week high of $182.88. The stock has a 50 day moving average price of $141.67 and a two-hundred day moving average price of $133.37.

ARM (NASDAQ:ARM) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.23 billion. ARM had a net margin of 19.76% and a return on equity of 17.97%. The firm’s revenue was up 33.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.36 EPS. As a group, equities analysts predict that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on ARM shares. Loop Capital reduced their target price on ARM from $195.00 to $155.00 and set a “buy” rating for the company in a research report on Tuesday, May 13th. TD Cowen cut their price objective on ARM from $200.00 to $155.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Rosenblatt Securities decreased their price objective on shares of ARM from $203.00 to $180.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th. Barclays lowered their target price on shares of ARM from $125.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, May 8th. Finally, Needham & Company LLC reissued a “hold” rating on shares of ARM in a research note on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, ARM presently has an average rating of “Moderate Buy” and a consensus target price of $158.87.

ARM Profile

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.