PFG Investments LLC Has $2.24 Million Stake in Arm Holdings plc (NASDAQ:ARM)

PFG Investments LLC trimmed its position in shares of Arm Holdings plc (NASDAQ:ARM - Free Report) by 8.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,194 shares of the company's stock after selling 1,619 shares during the period. PFG Investments LLC's holdings in ARM were worth $2,244,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in ARM. Envestnet Asset Management Inc. lifted its position in shares of ARM by 20.0% in the second quarter. Envestnet Asset Management Inc. now owns 37,902 shares of the company's stock worth $6,202,000 after purchasing an additional 6,311 shares in the last quarter. Bank of Montreal Can purchased a new stake in ARM in the 2nd quarter worth approximately $5,684,000. AXA S.A. acquired a new stake in shares of ARM during the 2nd quarter valued at $4,335,000. Creative Planning grew its holdings in shares of ARM by 438.5% during the 2nd quarter. Creative Planning now owns 31,601 shares of the company's stock valued at $5,171,000 after acquiring an additional 25,733 shares in the last quarter. Finally, NewEdge Advisors LLC increased its stake in shares of ARM by 54.1% in the second quarter. NewEdge Advisors LLC now owns 34,386 shares of the company's stock worth $5,626,000 after acquiring an additional 12,078 shares during the last quarter. 7.53% of the stock is owned by institutional investors and hedge funds.

ARM Stock Down 10.4 %

NASDAQ ARM traded down $16.92 during midday trading on Monday, hitting $145.60. The company had a trading volume of 11,681,572 shares, compared to its average volume of 7,433,745. The firm has a fifty day simple moving average of $140.00 and a two-hundred day simple moving average of $140.42. The stock has a market cap of $152.56 billion, a price-to-earnings ratio of 242.67, a P/E/G ratio of 8.41 and a beta of 4.53. Arm Holdings plc has a fifty-two week low of $69.32 and a fifty-two week high of $188.75.

ARM (NASDAQ:ARM - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.04. The firm had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. The company's quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.36 earnings per share. As a group, equities analysts predict that Arm Holdings plc will post 0.84 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Evercore ISI boosted their target price on ARM from $173.00 to $176.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Susquehanna boosted their price target on ARM from $118.00 to $140.00 and gave the company a "neutral" rating in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. raised their price objective on shares of ARM from $140.00 to $160.00 and gave the company an "overweight" rating in a research report on Thursday, November 7th. The Goldman Sachs Group boosted their target price on shares of ARM from $144.00 to $159.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Finally, UBS Group initiated coverage on shares of ARM in a research note on Monday, November 25th. They issued 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 assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, ARM has an average rating of "Moderate Buy" and an average price target of $152.09.

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.