Wellington Management Group LLP Sells 198,314 Shares of Arm Holdings plc (NASDAQ:ARM)

Wellington Management Group LLP lowered its position in Arm Holdings plc (NASDAQ:ARM) by 15.0% during the 3rd quarter, Holdings Channel reports. The fund owned 1,127,393 shares of the company’s stock after selling 198,314 shares during the period. Wellington Management Group LLP’s holdings in ARM were worth $161,228,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. ORG Partners LLC acquired a new position in ARM during the 3rd quarter valued at about $29,000. Transcendent Capital Group LLC bought a new position in shares of ARM in the second quarter valued at approximately $33,000. Gilliland Jeter Wealth Management LLC boosted its position in shares of ARM by 83.0% during the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock valued at $37,000 after buying an additional 117 shares during the last quarter. RiverPark Advisors LLC grew its holdings in ARM by 45.3% during the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after buying an additional 77 shares in the last quarter. Finally, Oakworth Capital Inc. bought a new stake in ARM during the second quarter worth $47,000. Institutional investors and hedge funds own 7.53% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on ARM shares. TD Cowen raised 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. Raymond James initiated coverage on shares of ARM in a research report on Friday, September 13th. They set an “outperform” rating and a $160.00 price target on the stock. UBS Group started coverage on shares of ARM in a research report on Monday, November 25th. They issued a “buy” rating and a $160.00 price objective for the company. The Goldman Sachs Group increased their price objective on shares of ARM from $144.00 to $159.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Needham & Company LLC restated a “hold” rating on shares of ARM in a research note on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $150.32.

ARM Stock Up 2.1 %

Shares of ARM opened at $140.89 on Monday. Arm Holdings plc has a twelve month low of $61.20 and a twelve month high of $188.75. The stock has a market cap of $147.63 billion, a PE ratio of 234.82, a P/E/G ratio of 7.06 and a beta of 4.67. The business’s 50-day moving average price is $142.48 and its 200-day moving average price is $142.67.

ARM (NASDAQ:ARM) last posted its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.04. The business had revenue of $844.00 million for the quarter, compared to analysts’ expectations of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.36 EPS. Analysts expect that Arm Holdings plc will post 0.79 earnings per share for the current fiscal year.

ARM 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.