Primecap Management Co. CA Decreases Stock Position in Arm Holdings plc (NASDAQ:ARM)

Primecap Management Co. CA lessened its holdings in Arm Holdings plc (NASDAQ:ARM) by 4.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 569,490 shares of the company’s stock after selling 25,100 shares during the quarter. Primecap Management Co. CA’s holdings in ARM were worth $81,443,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ARM. ORG Partners LLC purchased a new position in ARM in the 3rd quarter worth $29,000. Transcendent Capital Group LLC purchased a new stake in ARM during the 2nd quarter valued at about $33,000. Gilliland Jeter Wealth Management LLC increased its holdings in shares of ARM by 83.0% in the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock valued at $37,000 after purchasing an additional 117 shares during the period. RiverPark Advisors LLC raised its stake in shares of ARM by 45.3% in the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after purchasing an additional 77 shares during the last quarter. Finally, Mather Group LLC. acquired a new stake in shares of ARM during the second quarter worth about $41,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

ARM Stock Down 0.6 %

Shares of NASDAQ ARM opened at $132.85 on Friday. Arm Holdings plc has a 52-week low of $59.00 and a 52-week high of $188.75. The company’s 50-day simple moving average is $143.52 and its 200-day simple moving average is $140.20. The firm has a market cap of $139.20 billion, a price-to-earnings ratio of 221.42, a price-to-earnings-growth ratio of 6.64 and a beta of 5.40.

ARM (NASDAQ:ARM) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.26 by $0.04. The company 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 business earned $0.36 EPS. Equities research analysts anticipate that Arm Holdings plc will post 0.79 EPS for the current fiscal year.

Analyst Ratings Changes

ARM has been the topic of several research reports. Loop Capital increased their price target on shares of ARM from $130.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Hsbc Global Res upgraded shares of ARM to a “moderate sell” rating in a research note on Monday, July 29th. Susquehanna boosted their target price on shares of ARM from $115.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft upped their price target on shares of ARM from $82.00 to $105.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Finally, TD Cowen lifted their price objective on ARM from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $147.95.

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.