Pinnacle Associates Ltd. Lowers Holdings in ARM Holdings PLC Sponsored ADR $ARM

Pinnacle Associates Ltd. trimmed its position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 4.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,357 shares of the company’s stock after selling 1,660 shares during the period. Pinnacle Associates Ltd.’s holdings in ARM were worth $5,719,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its position in ARM by 59.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,574,854 shares of the company’s stock valued at $702,129,000 after buying an additional 2,446,224 shares during the last quarter. Sustainable Growth Advisers LP purchased a new position in ARM in the 1st quarter valued at $170,287,000. American Century Companies Inc. lifted its holdings in ARM by 112.3% in the first quarter. American Century Companies Inc. now owns 703,365 shares of the company’s stock valued at $75,112,000 after acquiring an additional 372,081 shares during the period. Invesco Ltd. lifted its holdings in ARM by 9.5% in the first quarter. Invesco Ltd. now owns 576,020 shares of the company’s stock valued at $61,513,000 after acquiring an additional 49,805 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in ARM by 3,853.4% in the second quarter. Robeco Institutional Asset Management B.V. now owns 520,465 shares of the company’s stock valued at $84,180,000 after acquiring an additional 507,300 shares during the period. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on ARM. Raymond James Financial raised their target price on ARM from $140.00 to $165.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Morgan Stanley reduced their target price on ARM from $180.00 to $171.00 and set an “overweight” rating for the company in a report on Thursday, October 9th. BNP Paribas Exane raised ARM from a “neutral” rating to an “outperform” rating and set a $210.00 target price for the company in a report on Wednesday, July 16th. KeyCorp reissued an “overweight” rating and issued a $190.00 target price (up previously from $175.00) on shares of ARM in a report on Thursday, July 31st. Finally, Needham & Company LLC reissued a “hold” rating on shares of ARM in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $172.80.

ARM Stock Up 2.6%

NASDAQ:ARM opened at $169.82 on Friday. The company has a market capitalization of $179.42 billion, a PE ratio of 257.30, a price-to-earnings-growth ratio of 10.39 and a beta of 4.10. ARM Holdings PLC Sponsored ADR has a 52-week low of $80.00 and a 52-week high of $183.16. The stock has a fifty day simple moving average of $153.37 and a 200-day simple moving average of $142.39.

ARM (NASDAQ:ARM) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. The business had revenue of $1.05 billion during 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 business’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.40 EPS. As a group, equities analysts anticipate that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current year.

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.