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

Primecap Management Co. CA lessened its stake in Arm Holdings plc (NASDAQ:ARM) by 23.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 594,590 shares of the company’s stock after selling 182,745 shares during the quarter. Primecap Management Co. CA owned approximately 0.06% of ARM worth $97,287,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Mark Sheptoff Financial Planning LLC bought a new position in ARM in the 1st quarter worth about $25,000. Transcendent Capital Group LLC purchased a new stake in shares of ARM in the 2nd quarter valued at approximately $33,000. SOA Wealth Advisors LLC. purchased a new stake in shares of ARM in the 1st quarter valued at approximately $35,000. RiverPark Advisors LLC lifted its position in ARM by 45.3% in the 2nd 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, Mather Group LLC. purchased a new stake in ARM in the 2nd quarter worth approximately $41,000. Institutional investors and hedge funds own 7.53% of the company’s stock.

ARM Stock Performance

NASDAQ:ARM opened at $136.84 on Wednesday. The business has a 50 day moving average price of $138.02 and a 200-day moving average price of $132.76. Arm Holdings plc has a fifty-two week low of $46.50 and a fifty-two week high of $188.75. The firm has a market cap of $143.39 billion and a PE ratio of 148.06.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.35 by $0.05. The business had revenue of $939.00 million during the quarter, compared to analyst estimates of $905.53 million. ARM had a return on equity of 18.97% and a net margin of 12.12%. The company’s revenue for the quarter was up 39.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.24 earnings per share. Research analysts predict that Arm Holdings plc will post 0.82 EPS for the current year.

Wall Street Analysts Forecast Growth

ARM has been the topic of a number of recent research reports. Needham & Company LLC restated a “hold” rating on shares of ARM in a report on Thursday, August 1st. Daiwa America upgraded shares of ARM from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 8th. Rosenblatt Securities reissued a “buy” rating and issued a $180.00 target price on shares of ARM in a research note on Thursday, August 1st. Bank of America upped their target price on shares of ARM from $150.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of ARM from $82.00 to $105.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.04.

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.