Arm Holdings plc (NASDAQ:ARM) Shares Sold by Telemark Asset Management LLC

Telemark Asset Management LLC reduced its position in shares of Arm Holdings plc (NASDAQ:ARM) by 50.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 150,000 shares of the company’s stock after selling 150,000 shares during the period. ARM accounts for about 2.2% of Telemark Asset Management LLC’s investment portfolio, making the stock its 12th largest position. Telemark Asset Management LLC’s holdings in ARM were worth $21,452,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC lifted its holdings in shares of ARM by 14,351.1% during the 3rd quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock worth $1,161,670,000 after acquiring an additional 806,676 shares during the period. Sei Investments Co. lifted its holdings in shares of ARM by 551.6% during the 2nd quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock worth $94,790,000 after acquiring an additional 490,415 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings 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 acquiring an additional 233,909 shares during the period. Marsico Capital Management LLC purchased a new position in shares of ARM during the 2nd quarter worth about $33,207,000. Finally, ProShare Advisors LLC purchased a new position in shares of ARM during the 2nd quarter worth about $16,611,000. 7.53% of the stock is owned by institutional investors and hedge funds.

ARM Stock Performance

ARM stock opened at $132.85 on Friday. The stock has a market capitalization of $139.20 billion, a price-to-earnings ratio of 221.42, a PEG ratio of 6.64 and a beta of 5.40. Arm Holdings plc has a 1 year low of $59.00 and a 1 year high of $188.75. The stock’s fifty day moving average is $143.52 and its two-hundred day moving average is $140.20.

ARM (NASDAQ:ARM) last issued 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. ARM had a net margin of 18.13% and a return on equity of 13.69%. The business had revenue of $844.00 million for the quarter, compared to analysts’ expectations of $810.03 million. During the same period in the previous year, the business earned $0.36 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. As a group, analysts predict that Arm Holdings plc will post 0.79 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Evercore ISI raised their price target on shares of ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Citigroup raised their price target on shares of ARM from $150.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Needham & Company LLC restated a “hold” rating on shares of ARM in a report on Thursday, November 7th. The Goldman Sachs Group raised their price target on shares of ARM from $144.00 to $159.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, William Blair assumed coverage on shares of ARM in a research report on Wednesday, September 18th. They issued an “outperform” rating for the company. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $149.86.

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.