Moors & Cabot Inc. Sells 8,525 Shares of Arm Holdings plc (NASDAQ:ARM)

Moors & Cabot Inc. cut its holdings in Arm Holdings plc (NASDAQ:ARM) by 80.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,075 shares of the company’s stock after selling 8,525 shares during the quarter. Moors & Cabot Inc.’s holdings in ARM were worth $340,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ARM. Lazard Asset Management LLC raised its holdings in shares of ARM by 393.0% during the first quarter. Lazard Asset Management LLC now owns 25,236 shares of the company’s stock valued at $3,154,000 after purchasing an additional 20,117 shares during the last quarter. Mizuho Securities Co. Ltd. raised its stake in ARM by 156.3% during the 2nd quarter. Mizuho Securities Co. Ltd. now owns 18,400 shares of the company’s stock valued at $3,011,000 after buying an additional 11,220 shares during the last quarter. Rheos Capital Works Inc. lifted its holdings in shares of ARM by 48.1% during the 1st quarter. Rheos Capital Works Inc. now owns 256,900 shares of the company’s stock valued at $32,110,000 after buying an additional 83,400 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new position in shares of ARM in the 1st quarter worth $222,000. Finally, Prudential PLC grew its holdings in shares of ARM by 38.1% in the second quarter. Prudential PLC now owns 108,653 shares of the company’s stock worth $17,778,000 after acquiring an additional 29,992 shares during the period. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

ARM Stock Performance

ARM stock opened at $138.90 on Friday. The firm has a fifty day moving average price of $135.56 and a 200 day moving average price of $132.86. 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 $145.54 billion and a PE ratio of 145.57.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Morgan Stanley raised ARM from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $107.00 to $190.00 in a report on Friday, July 19th. William Blair initiated coverage on shares of ARM in a report on Wednesday. They issued an “outperform” rating on the stock. Deutsche Bank Aktiengesellschaft boosted their target price 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. TD Cowen upgraded shares of ARM to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Daiwa America raised shares of ARM from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $125.96.

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.