Independent Advisor Alliance Reduces Stock Holdings in Arm Holdings plc (NASDAQ:ARM)

Independent Advisor Alliance lowered its holdings in Arm Holdings plc (NASDAQ:ARM) by 7.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,290 shares of the company’s stock after selling 176 shares during the quarter. Independent Advisor Alliance’s holdings in ARM were worth $327,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Transcendent Capital Group LLC purchased a new stake in ARM in the 2nd quarter worth approximately $33,000. ORG Partners LLC purchased a new stake in ARM during the third quarter worth $29,000. RiverPark Advisors LLC grew its position in ARM by 45.3% during the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after buying an additional 77 shares during the period. Mather Group LLC. purchased a new position in ARM in the second quarter valued at $41,000. Finally, Gilliland Jeter Wealth Management LLC raised its position in shares of ARM by 83.0% in the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after acquiring an additional 117 shares during the period. Hedge funds and other institutional investors own 7.53% of the company’s stock.

Wall Street Analysts Forecast Growth

ARM has been the topic of a number of analyst reports. Evercore ISI raised their target price on ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Susquehanna boosted their price objective on ARM from $115.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Raymond James assumed coverage on ARM in a research note on Friday, September 13th. They set an “outperform” rating and a $160.00 target price for the company. Barclays lifted their price target on shares of ARM from $125.00 to $145.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Finally, UBS Group assumed coverage on shares of ARM in a research report on Monday. They set 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 issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $150.32.

ARM Price Performance

NASDAQ:ARM opened at $133.37 on Friday. The company’s 50-day moving average is $143.07 and its two-hundred day moving average is $141.21. Arm Holdings plc has a 1-year low of $60.37 and a 1-year high of $188.75. The firm has a market capitalization of $139.75 billion, a price-to-earnings ratio of 222.28, a PEG ratio of 6.97 and a beta of 5.40.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 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 firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 earnings per share. As a group, equities analysts anticipate that Arm Holdings plc will post 0.79 earnings per share for the current fiscal year.

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.