iA Global Asset Management Inc. Decreases Stock Holdings in Arm Holdings plc (NASDAQ:ARM)

iA Global Asset Management Inc. decreased its position in Arm Holdings plc (NASDAQ:ARM - Free Report) by 59.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 12,756 shares of the company's stock after selling 18,361 shares during the period. iA Global Asset Management Inc.'s holdings in ARM were worth $1,824,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. KP Management LLC boosted its holdings in ARM by 28.6% in the third quarter. KP Management LLC now owns 45,000 shares of the company's stock valued at $6,435,000 after acquiring an additional 10,000 shares in the last quarter. Willner & Heller LLC lifted its position in ARM by 193.7% during the third quarter. Willner & Heller LLC now owns 6,799 shares of the company's stock valued at $972,000 after buying an additional 4,484 shares during the period. Avalon Global Asset Management LLC purchased a new position in ARM during the third quarter valued at $8,581,000. United Advisor Group LLC purchased a new position in ARM during the third quarter valued at $545,000. Finally, Mizuho Securities Co. Ltd. lifted its position in ARM by 156.3% during the second quarter. Mizuho Securities Co. Ltd. now owns 18,400 shares of the company's stock valued at $3,011,000 after buying an additional 11,220 shares during the period. Institutional investors own 7.53% of the company's stock.

ARM Price Performance

Shares of NASDAQ:ARM traded down $1.25 during mid-day trading on Monday, reaching $139.64. 3,483,988 shares of the company traded hands, compared to its average volume of 10,376,202. The company's 50 day moving average price is $142.48 and its 200-day moving average price is $142.67. The firm has a market cap of $146.32 billion, a PE ratio of 234.82, a PEG ratio of 7.03 and a beta of 4.71. Arm Holdings plc has a 52 week low of $62.75 and a 52 week high of $188.75.

ARM (NASDAQ:ARM - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.04. ARM had a return on equity of 13.69% and a net margin of 18.13%. The company 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 firm earned $0.36 EPS. The firm's revenue was up 4.7% compared to the same quarter last year. On average, research analysts predict that Arm Holdings plc will post 0.79 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on ARM. UBS Group began coverage on ARM in a research report on Monday, November 25th. They set a "buy" rating and a $160.00 price objective for the company. Barclays lifted their price target on ARM from $125.00 to $145.00 and gave the stock an "overweight" rating in a research report on Thursday, November 7th. The Goldman Sachs Group lifted their price target on ARM from $144.00 to $159.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Needham & Company LLC reaffirmed a "hold" rating on shares of ARM in a research report on Thursday, November 7th. Finally, Benchmark started coverage on ARM in a research report on Monday, September 16th. They issued a "hold" rating 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $150.32.

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.