Independent Advisor Alliance Trims Stake in Arm Holdings plc (NASDAQ:ARM)

Independent Advisor Alliance cut its position in shares of Arm Holdings plc (NASDAQ:ARM) by 7.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,290 shares of the company’s stock after selling 176 shares during the period. Independent Advisor Alliance’s holdings in ARM were worth $327,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in ARM. ORG Partners LLC bought a new position in ARM in the 3rd quarter valued at $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 lifted its holdings in ARM by 83.0% during the 3rd 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 in the last quarter. RiverPark Advisors LLC boosted its position in ARM by 45.3% in the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after buying an additional 77 shares during the period. Finally, Mather Group LLC. purchased a new stake in ARM in the 2nd quarter valued at about $41,000. 7.53% of the stock is currently owned by institutional investors.

ARM Stock Performance

ARM stock opened at $133.37 on Friday. The stock has a market cap of $139.75 billion, a PE ratio of 222.28, a price-to-earnings-growth ratio of 6.97 and a beta of 5.40. The stock has a 50-day moving average of $143.07 and a two-hundred day moving average of $141.21. Arm Holdings plc has a one year low of $60.37 and a one year high of $188.75.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.26 by $0.04. The firm had revenue of $844.00 million during the quarter, compared to analyst estimates of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. ARM’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm posted $0.36 EPS. As a group, sell-side analysts predict that Arm Holdings plc will post 0.79 EPS for the current fiscal year.

Analyst Ratings Changes

ARM has been the subject of several research analyst reports. Evercore ISI lifted their price target on shares of ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. TD Cowen lifted their target price on ARM from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Susquehanna increased their price target on ARM from $115.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. lifted their price objective on ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, Barclays upped their price objective on shares of ARM from $125.00 to $145.00 and gave the stock 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 given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $150.32.

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.