Primecap Management Co. CA Sells 25,100 Shares of Arm Holdings plc (NASDAQ:ARM)

Primecap Management Co. CA lessened its position in Arm Holdings plc (NASDAQ:ARM) by 4.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 569,490 shares of the company’s stock after selling 25,100 shares during the period. Primecap Management Co. CA owned 0.05% of ARM worth $81,443,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ARM. ORG Partners LLC bought a new position in ARM in the third quarter worth about $29,000. Transcendent Capital Group LLC bought a new position in ARM in the second quarter worth $33,000. Gilliland Jeter Wealth Management LLC lifted its position in ARM by 83.0% during the third 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 during the period. RiverPark Advisors LLC boosted its holdings in shares of ARM by 45.3% during 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 in the last quarter. Finally, Mather Group LLC. purchased a new stake in shares of ARM in the 2nd quarter worth about $41,000. Institutional investors own 7.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ARM. Deutsche Bank Aktiengesellschaft raised their price target on ARM from $82.00 to $105.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Daiwa Capital Markets raised ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price objective on the stock in a research report on Thursday, August 8th. William Blair began coverage on ARM in a research report on Wednesday, September 18th. They issued an “outperform” rating for the company. Citigroup lifted their price objective on ARM from $150.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Sanford C. Bernstein downgraded ARM from a “market perform” rating to an “underperform” rating and set a $100.00 target price on the stock. in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, ARM currently has an average rating of “Moderate Buy” and a consensus price target of $147.95.

ARM Stock Performance

NASDAQ ARM opened at $132.85 on Friday. The business’s 50 day moving average price is $143.52 and its 200-day moving average price is $140.20. Arm Holdings plc has a fifty-two week low of $59.00 and a fifty-two week high of $188.75. The company has a market cap of $139.20 billion, a P/E ratio of 221.42, a P/E/G ratio of 6.64 and a beta of 5.40.

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 analysts’ consensus estimates of $0.26 by $0.04. The business had revenue of $844.00 million for 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 business’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 earnings per share. As a group, equities analysts predict that Arm Holdings plc will post 0.79 EPS for the current year.

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.