US Bancorp DE Sells 906 Shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM)

US Bancorp DE lessened its stake in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 8.8% during the 1st quarter, Holdings Channel reports. The fund owned 9,399 shares of the company’s stock after selling 906 shares during the period. US Bancorp DE’s holdings in ARM were worth $1,004,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GeoWealth Management LLC boosted its position in ARM by 53.8% during the 4th quarter. GeoWealth Management LLC now owns 263 shares of the company’s stock valued at $32,000 after acquiring an additional 92 shares in the last quarter. TFC Financial Management Inc. boosted its position in ARM by 163.4% during the 1st quarter. TFC Financial Management Inc. now owns 266 shares of the company’s stock valued at $28,000 after acquiring an additional 165 shares in the last quarter. N.E.W. Advisory Services LLC bought a new stake in ARM during the 1st quarter valued at $34,000. Colonial Trust Co SC bought a new stake in ARM during the 4th quarter valued at $40,000. Finally, MorganRosel Wealth Management LLC bought a new stake in ARM during the 1st quarter valued at $53,000. Institutional investors own 7.53% of the company’s stock.

ARM Stock Performance

Shares of ARM opened at $138.50 on Friday. The business’s 50-day moving average is $147.79 and its two-hundred day moving average is $133.75. The company has a market capitalization of $146.33 billion, a P/E ratio of 209.85, a P/E/G ratio of 9.26 and a beta of 4.17. ARM Holdings PLC Sponsored ADR has a fifty-two week low of $80.00 and a fifty-two week high of $182.88.

ARM (NASDAQ:ARM) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.06 billion. ARM had a return on equity of 15.56% and a net margin of 16.96%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period last year, the firm earned $0.40 EPS. Analysts forecast that ARM Holdings PLC Sponsored ADR will post 0.9 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ARM. Guggenheim increased their target price on ARM from $147.00 to $187.00 and gave the company a “buy” rating in a research report on Monday, June 30th. KeyCorp reiterated an “overweight” rating and set a $190.00 price objective (up previously from $175.00) on shares of ARM in a report on Thursday, July 31st. Barclays decreased their price objective on ARM from $125.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, May 8th. Needham & Company LLC reiterated a “hold” rating on shares of ARM in a report on Thursday, July 31st. Finally, JPMorgan Chase & Co. decreased their price objective on ARM from $175.00 to $150.00 and set an “overweight” rating for the company in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $169.67.

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.