Polymer Capital Management HK LTD Reduces Stock Position in Arm Holdings plc (NASDAQ:ARM)

Polymer Capital Management HK LTD lessened its holdings in shares of Arm Holdings plc (NASDAQ:ARM) by 69.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,000 shares of the company’s stock after selling 9,306 shares during the period. Polymer Capital Management HK LTD’s holdings in ARM were worth $572,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Morse Asset Management Inc purchased a new stake in shares of ARM in the 3rd quarter worth about $212,000. IHT Wealth Management LLC lifted its holdings in ARM by 60.2% in the third quarter. IHT Wealth Management LLC now owns 3,062 shares of the company’s stock worth $430,000 after buying an additional 1,151 shares during the period. Integrated Wealth Concepts LLC boosted its position in ARM by 5.8% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 10,995 shares of the company’s stock valued at $1,572,000 after acquiring an additional 601 shares in the last quarter. Concentric Capital Strategies LP bought a new position in shares of ARM in the 3rd quarter worth approximately $830,000. Finally, Avalon Global Asset Management LLC purchased a new position in shares of ARM in the 3rd quarter valued at approximately $8,581,000. Institutional investors own 7.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. The Goldman Sachs Group increased their price objective on ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. TD Cowen lifted their price target on shares of ARM from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Barclays upped their price objective on shares of ARM from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Needham & Company LLC reiterated a “hold” rating on shares of ARM in a report on Thursday, November 7th. Finally, Daiwa America raised shares of ARM from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $150.32.

ARM Trading Up 0.0 %

ARM stock opened at $140.38 on Wednesday. Arm Holdings plc has a 12-month low of $60.37 and a 12-month high of $188.75. The firm has a market capitalization of $147.09 billion, a price-to-earnings ratio of 233.97, a P/E/G ratio of 7.01 and a beta of 4.67. The firm has a 50 day moving average of $142.90 and a 200 day moving average of $142.09.

ARM (NASDAQ:ARM) last issued its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share 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 the consensus estimate of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. ARM’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.36 EPS. On average, analysts predict that Arm Holdings plc will post 0.79 EPS for the current year.

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.