Arm Holdings plc (NASDAQ:ARM) Stake Reduced by Telemark Asset Management LLC

Telemark Asset Management LLC cut its holdings in Arm Holdings plc (NASDAQ:ARM) by 50.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 150,000 shares of the company’s stock after selling 150,000 shares during the quarter. ARM comprises about 2.2% of Telemark Asset Management LLC’s investment portfolio, making the stock its 12th biggest holding. Telemark Asset Management LLC’s holdings in ARM were worth $21,452,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ARM. ORG Partners LLC purchased a new position in ARM in the 3rd quarter worth about $29,000. Transcendent Capital Group LLC purchased a new position in ARM in the 2nd quarter worth about $33,000. Gilliland Jeter Wealth Management LLC increased its stake in ARM by 83.0% in the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after purchasing an additional 117 shares in the last quarter. RiverPark Advisors LLC increased its stake 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 purchasing an additional 77 shares in the last quarter. Finally, Mather Group LLC. purchased a new position in ARM in the 2nd quarter worth about $41,000. 7.53% of the stock is currently owned by institutional investors.

ARM Stock Down 0.6 %

Shares of ARM stock opened at $132.85 on Friday. Arm Holdings plc has a 12-month low of $59.00 and a 12-month high of $188.75. The stock has a market capitalization of $139.20 billion, a P/E ratio of 221.42, a PEG ratio of 6.64 and a beta of 5.40. The stock has a 50 day moving average price of $143.52 and a two-hundred day moving average price of $140.20.

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ARM shares. Susquehanna lifted their target price on ARM from $115.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Wells Fargo & Company started coverage on ARM in a research note on Friday. They set an “overweight” rating and a $155.00 target price on the stock. Loop Capital lifted their target price on ARM from $130.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Citigroup lifted their target price on ARM from $150.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, TD Cowen lifted their target price 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 assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $149.86.

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.