Zweig DiMenna Associates LLC Sells 25,933 Shares of Arm Holdings plc (NASDAQ:ARM)

Zweig DiMenna Associates LLC lowered its stake in Arm Holdings plc (NASDAQ:ARM) by 72.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,092 shares of the company’s stock after selling 25,933 shares during the period. Zweig DiMenna Associates LLC’s holdings in ARM were worth $1,443,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ARM. Willner & Heller LLC lifted its position in ARM by 193.7% during the 3rd quarter. Willner & Heller LLC now owns 6,799 shares of the company’s stock valued at $972,000 after purchasing an additional 4,484 shares during the period. Lazard Asset Management LLC lifted its holdings in ARM by 393.0% in the first quarter. Lazard Asset Management LLC now owns 25,236 shares of the company’s stock valued at $3,154,000 after buying an additional 20,117 shares during the period. Mizuho Securities Co. Ltd. boosted its stake in ARM by 156.3% in the second quarter. Mizuho Securities Co. Ltd. now owns 18,400 shares of the company’s stock valued at $3,011,000 after acquiring an additional 11,220 shares during the last quarter. Vontobel Holding Ltd. grew its holdings in ARM by 42.5% during the 3rd quarter. Vontobel Holding Ltd. now owns 26,102 shares of the company’s stock worth $3,733,000 after acquiring an additional 7,790 shares during the period. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of ARM during the 2nd quarter valued at $4,090,000. Institutional investors own 7.53% of the company’s stock.

Analyst Ratings Changes

ARM has been the subject of a number of analyst reports. Daiwa Capital Markets raised ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price objective for the company in a research note on Thursday, August 8th. Raymond James initiated coverage on ARM in a research report on Friday, September 13th. They set an “outperform” rating and a $160.00 target price for the company. Deutsche Bank Aktiengesellschaft increased their price target 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. Citigroup boosted their price objective on shares of ARM from $150.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Evercore ISI increased their target price on shares of ARM from $145.00 to $173.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $138.57.

ARM Stock Down 1.0 %

NASDAQ ARM opened at $141.04 on Friday. Arm Holdings plc has a 12-month low of $47.12 and a 12-month high of $188.75. The firm’s 50 day moving average is $138.71 and its 200-day moving average is $135.66. The company has a market capitalization of $147.79 billion and a PE ratio of 361.65.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $905.53 million. During the same period in the previous year, the business earned $0.24 EPS. The company’s revenue was up 39.1% compared to the same quarter last year. As a group, sell-side analysts expect that Arm Holdings plc will post 0.86 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.