Arm Holdings plc (NASDAQ:ARM) Shares Sold by Kovack Advisors Inc.

Kovack Advisors Inc. trimmed its stake in shares of Arm Holdings plc (NASDAQ:ARM) by 6.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,263 shares of the company’s stock after selling 225 shares during the quarter. Kovack Advisors Inc.’s holdings in ARM were worth $467,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ARM. International Assets Investment Management LLC increased its position in shares of ARM by 14,351.1% during the third quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock worth $1,161,670,000 after purchasing an additional 806,676 shares in the last quarter. Sei Investments Co. raised its position in shares of ARM by 551.6% in the second quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock valued at $94,790,000 after buying an additional 490,415 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake 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 worth $52,279,000 after buying an additional 233,909 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of ARM by 5.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 290,947 shares of the company’s stock worth $36,366,000 after buying an additional 14,584 shares in the last quarter. Finally, Mark Asset Management LP boosted its position in ARM by 14.2% during the second quarter. Mark Asset Management LP now owns 238,589 shares of the company’s stock worth $39,038,000 after acquiring an additional 29,686 shares during the last quarter. Institutional investors and hedge funds own 7.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ARM shares. Daiwa America upgraded ARM from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 8th. Barclays raised their target price on ARM from $125.00 to $145.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Evercore ISI upped their price objective on shares of ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Benchmark started coverage on shares of ARM in a research note on Monday, September 16th. They set a “hold” rating on the stock. Finally, JPMorgan Chase & Co. increased their price target on shares of ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Two equities research 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $147.95.

ARM Trading Up 0.9 %

Shares of NASDAQ ARM opened at $136.35 on Friday. The stock has a market cap of $142.87 billion, a P/E ratio of 228.02, a PEG ratio of 6.39 and a beta of 5.40. The business’s fifty day simple moving average is $143.11 and its 200-day simple moving average is $139.12. Arm Holdings plc has a 12-month low of $53.47 and a 12-month high of $188.75.

ARM (NASDAQ:ARM) last released its quarterly earnings data 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 during 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 company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.36 EPS. On average, equities analysts forecast that Arm Holdings plc will post 0.86 EPS for the current fiscal year.

About ARM

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.