Smith Group Asset Management LLC Sells 8,900 Shares of ARM Holdings PLC Sponsored ADR $ARM

Smith Group Asset Management LLC lessened its stake in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 46.4% in the second quarter, HoldingsChannel reports. The firm owned 10,300 shares of the company’s stock after selling 8,900 shares during the period. Smith Group Asset Management LLC’s holdings in ARM were worth $1,666,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. TFC Financial Management Inc. increased its holdings in shares of ARM by 163.4% in the first quarter. TFC Financial Management Inc. now owns 266 shares of the company’s stock worth $28,000 after acquiring an additional 165 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of ARM in the first quarter worth about $28,000. N.E.W. Advisory Services LLC bought a new stake in shares of ARM in the first quarter worth about $34,000. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of ARM in the second quarter worth about $39,000. Finally, ORG Partners LLC bought a new stake in shares of ARM in the second quarter worth about $48,000. Institutional investors own 7.53% of the company’s stock.

ARM Price Performance

Shares of NASDAQ ARM opened at $166.60 on Friday. The stock has a market capitalization of $176.01 billion, a PE ratio of 252.42, a P/E/G ratio of 10.41 and a beta of 4.10. The business has a fifty day moving average price of $149.14 and a two-hundred day moving average price of $139.11. 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 data on Wednesday, July 30th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.06 billion. ARM had a return on equity of 15.56% and a net margin of 16.96%.The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.40 EPS. On average, equities analysts expect that ARM Holdings PLC Sponsored ADR will post 0.9 EPS for the current year.

Analyst Upgrades and Downgrades

ARM has been the subject of several recent analyst reports. Guggenheim increased their price target on ARM from $147.00 to $187.00 and gave the stock a “buy” rating in a report on Monday, June 30th. Needham & Company LLC restated a “hold” rating on shares of ARM in a report on Thursday, July 31st. Rosenblatt Securities restated a “buy” rating and issued a $180.00 price target on shares of ARM in a report on Thursday, July 31st. KeyCorp restated an “overweight” rating and issued a $190.00 price target (up from $175.00) on shares of ARM in a report on Thursday, July 31st. Finally, BNP Paribas Exane upgraded ARM from a “neutral” rating to an “outperform” rating and set a $210.00 price target for the company in a report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $168.14.

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.