Polymer Capital Management HK LTD Sells 9,306 Shares of Arm Holdings plc (NASDAQ:ARM)

Polymer Capital Management HK LTD reduced its stake in Arm Holdings plc (NASDAQ:ARM) by 69.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,000 shares of the company’s stock after selling 9,306 shares during the quarter. Polymer Capital Management HK LTD’s holdings in ARM were worth $572,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of ARM. International Assets Investment Management LLC raised its holdings in shares of ARM by 14,351.1% in the third quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock valued at $1,161,670,000 after purchasing an additional 806,676 shares during the last quarter. Sei Investments Co. increased its stake in ARM by 551.6% in the 2nd 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 position in shares of ARM by 186.8% during the 3rd 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. Mark Asset Management LP boosted its stake in shares of ARM by 14.2% in the 2nd quarter. Mark Asset Management LP now owns 238,589 shares of the company’s stock worth $39,038,000 after buying an additional 29,686 shares during the last quarter. Finally, Marsico Capital Management LLC bought a new position in shares of ARM in the second quarter valued at approximately $33,207,000. 7.53% of the stock is owned by hedge funds and other institutional investors.

ARM Stock Performance

ARM stock opened at $140.38 on Wednesday. The firm has a market cap of $147.09 billion, a P/E ratio of 233.97, a P/E/G ratio of 7.01 and a beta of 4.67. The firm’s fifty day moving average is $142.90 and its 200 day moving average is $142.09. Arm Holdings plc has a 52 week low of $60.37 and a 52 week high of $188.75.

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

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Daiwa America raised ARM from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 8th. UBS Group initiated coverage on shares of ARM in a research report on Monday, November 25th. They set a “buy” rating and a $160.00 price target for the company. Raymond James began coverage on shares of ARM in a research note on Friday, September 13th. They issued an “outperform” rating and a $160.00 target price on the stock. Evercore ISI raised their price target on shares of ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company initiated coverage on ARM in a research note on Friday, November 22nd. They issued an “overweight” rating and a $155.00 price objective on the stock. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.