Dakota Wealth Management Reduces Position in Arm Holdings plc (NASDAQ:ARM)

Dakota Wealth Management decreased its stake in shares of Arm Holdings plc (NASDAQ:ARM) by 73.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,963 shares of the company’s stock after selling 40,447 shares during the period. Dakota Wealth Management’s holdings in ARM were worth $1,846,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. International Assets Investment Management LLC grew its position in shares of ARM by 14,351.1% in the third quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock valued at $1,161,670,000 after purchasing an additional 806,676 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of ARM by 186.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock valued at $52,279,000 after purchasing an additional 233,909 shares during the period. Franklin Resources Inc. grew its position in shares of ARM by 21.7% in the third quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock valued at $183,265,000 after purchasing an additional 228,467 shares during the period. Erste Asset Management GmbH purchased a new stake in shares of ARM in the third quarter valued at $11,646,000. Finally, Avalon Global Asset Management LLC purchased a new stake in shares of ARM in the third quarter valued at $8,581,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

ARM Stock Down 7.4 %

Shares of ARM stock opened at $166.56 on Friday. The firm has a market cap of $174.53 billion, a P/E ratio of 277.60, a P/E/G ratio of 7.25 and a beta of 4.53. Arm Holdings plc has a fifty-two week low of $69.32 and a fifty-two week high of $188.75. The business has a 50-day moving average price of $138.72 and a 200 day moving average price of $141.01.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.04. The firm had revenue of $844.00 million during the quarter, compared to analyst estimates of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. ARM’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.36 earnings per share. As a group, equities research analysts anticipate that Arm Holdings plc will post 0.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

ARM has been the subject of a number of recent analyst reports. The Goldman Sachs Group lifted their price objective on ARM from $144.00 to $159.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. TD Cowen lifted their target price on ARM from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Susquehanna lifted their target price on ARM from $118.00 to $140.00 and gave the company a “neutral” rating in a report on Wednesday. UBS Group initiated coverage on ARM in a report on Monday, November 25th. They issued a “buy” rating and a $160.00 target price on the stock. Finally, JPMorgan Chase & Co. lifted their target price on ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, ARM currently has a consensus rating of “Moderate Buy” and a consensus price target of $152.09.

ARM Company Profile

Arm Holdings plc architects, develops, and licenses central processing unit products and related technologies for semiconductor companies and original equipment manufacturers rely on to develop products. It offers microprocessors, systems intellectual property (IPs), graphics processing units, physical IP and associated systems IPs, software, tools, and other related services.