Milestone Resources Group Ltd Sells 3,545 Shares of Arm Holdings plc (NASDAQ:ARM)

Milestone Resources Group Ltd decreased its holdings in Arm Holdings plc (NASDAQ:ARM) by 59.4% in the third quarter, HoldingsChannel.com reports. The fund owned 2,425 shares of the company’s stock after selling 3,545 shares during the period. ARM comprises about 0.0% of Milestone Resources Group Ltd’s portfolio, making the stock its 26th largest holding. Milestone Resources Group Ltd’s holdings in ARM were worth $347,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Comerica Bank grew its stake in ARM by 6.1% in the first quarter. Comerica Bank now owns 1,780 shares of the company’s stock worth $222,000 after purchasing an additional 103 shares during the period. Envestnet Portfolio Solutions Inc. grew its holdings in ARM by 26.4% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 2,243 shares of the company’s stock worth $367,000 after purchasing an additional 468 shares during the period. AdvisorNet Financial Inc bought a new stake in shares of ARM in the 2nd quarter worth approximately $153,000. Valley National Advisers Inc. increased its position in ARM by 483.3% during the 2nd quarter. Valley National Advisers Inc. now owns 315 shares of the company’s stock valued at $51,000 after buying an additional 261 shares in the last quarter. Finally, Brookstone Capital Management purchased a new position in ARM during the second quarter valued at $203,000. Institutional investors own 7.53% of the company’s stock.

ARM Trading Up 5.1 %

ARM stock traded up $7.48 during trading on Friday, reaching $155.48. The company had a trading volume of 2,682,274 shares, compared to its average volume of 10,272,295. The firm’s 50-day simple moving average is $142.75 and its 200 day simple moving average is $143.06. Arm Holdings plc has a 52 week low of $65.11 and a 52 week high of $188.75. The firm has a market capitalization of $162.92 billion, a price-to-earnings ratio of 246.67, a price-to-earnings-growth ratio of 7.15 and a beta of 4.67.

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 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 business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.36 EPS. On average, analysts predict that Arm Holdings plc will post 0.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Susquehanna increased their target price on ARM from $115.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Sanford C. Bernstein lowered shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price objective for the company. in a research note on Thursday, October 31st. Loop Capital lifted their target price on shares of ARM from $130.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, November 11th. TD Cowen increased their price target on shares of ARM from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, UBS Group initiated coverage on shares of ARM in a report on Monday, November 25th. They issued a “buy” rating and a $160.00 price objective for the company. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $150.32.

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.