Rafferty Asset Management LLC Sells 1,462 Shares of Arm Holdings plc (NASDAQ:ARM)

Rafferty Asset Management LLC lessened its holdings in shares of Arm Holdings plc (NASDAQ:ARM) by 0.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 407,653 shares of the company’s stock after selling 1,462 shares during the quarter. Rafferty Asset Management LLC’s holdings in ARM were worth $50,288,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ARM. Artisan Partners Limited Partnership increased its stake in ARM by 48.1% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,651,489 shares of the company’s stock worth $327,088,000 after acquiring an additional 860,716 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of ARM by 4,506.5% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 808,953 shares of the company’s stock valued at $107,774,000 after purchasing an additional 791,392 shares during the last quarter. Schroder Investment Management Group increased its position in shares of ARM by 17.9% during the 4th quarter. Schroder Investment Management Group now owns 3,054,331 shares of the company’s stock valued at $376,782,000 after purchasing an additional 464,719 shares during the last quarter. Marshall Wace LLP bought a new position in shares of ARM during the 4th quarter valued at approximately $51,901,000. Finally, Banque Transatlantique SA bought a new position in shares of ARM during the 4th quarter valued at approximately $37,440,000. Institutional investors own 7.53% of the company’s stock.

ARM Stock Performance

Shares of ARM stock opened at $133.45 on Thursday. The stock’s 50-day simple moving average is $110.78 and its 200-day simple moving average is $131.87. The firm has a market capitalization of $139.83 billion, a PE ratio of 175.59, a P/E/G ratio of 6.33 and a beta of 4.39. Arm Holdings plc has a fifty-two week low of $80.00 and a fifty-two week high of $188.75.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.23 billion. ARM had a return on equity of 11.94% and a net margin of 21.82%. The company’s revenue was up 33.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.36 earnings per share. Sell-side analysts forecast that Arm Holdings plc will post 0.9 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ARM. Evercore ISI boosted their target price on ARM from $176.00 to $202.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Morgan Stanley cut their target price on ARM from $175.00 to $150.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. KGI Securities began coverage on ARM in a report on Tuesday, April 15th. They set a “neutral” rating for the company. Guggenheim dropped their price objective on ARM from $180.00 to $147.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Finally, Mizuho boosted their price objective on ARM from $160.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, ARM has a consensus rating of “Moderate Buy” and a consensus price target of $152.76.

ARM Profile

Arm Holdings Plc engages in the licensing, marketing, research, and development of microprocessors, systems IP, graphics processing units, physical IP and associated systems IP, software, and tools. It operates through the following geographical segments: United Kingdom, United States, and Other Countries.