Wellington Management Group LLP Sells 198,314 Shares of Arm Holdings plc (NASDAQ:ARM)

Wellington Management Group LLP reduced its holdings in Arm Holdings plc (NASDAQ:ARM - Free Report) by 15.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,127,393 shares of the company's stock after selling 198,314 shares during the quarter. Wellington Management Group LLP owned approximately 0.11% of ARM worth $161,228,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. ORG Partners LLC bought a new stake in shares of ARM during the 3rd quarter valued at $29,000. Transcendent Capital Group LLC bought a new position in shares of ARM during the 2nd quarter valued at about $33,000. Gilliland Jeter Wealth Management LLC grew its position in shares of ARM by 83.0% in the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company's stock valued at $37,000 after purchasing an additional 117 shares during the period. RiverPark Advisors LLC increased its stake in ARM by 45.3% during the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company's stock worth $40,000 after purchasing an additional 77 shares in the last quarter. Finally, Oakworth Capital Inc. acquired a new stake in ARM during the 2nd quarter worth approximately $47,000. 7.53% of the stock is currently owned by institutional investors.

ARM Stock Performance

Shares of ARM stock traded down $1.25 on Monday, hitting $139.64. 3,483,988 shares of the company's stock were exchanged, compared to its average volume of 10,376,202. The company has a 50-day simple moving average of $142.48 and a 200-day simple moving average of $142.67. The stock has a market capitalization 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 1 year low of $62.75 and a 1 year 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 for the quarter, beating the consensus estimate 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 the consensus estimate of $810.03 million. During the same quarter in the previous year, the firm earned $0.36 earnings per share. The company's revenue for the quarter was up 4.7% on a year-over-year basis. On average, analysts expect that Arm Holdings plc will post 0.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ARM. Benchmark began coverage on shares of ARM in a research report on Monday, September 16th. They issued a "hold" rating for the company. TD Cowen lifted their target price on ARM from $150.00 to $165.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Loop Capital increased their price target on ARM from $130.00 to $180.00 and gave the company a "buy" rating in a research report on Monday, November 11th. William Blair began coverage on ARM in a research report on Wednesday, September 18th. They set an "outperform" rating on the stock. Finally, Barclays increased their price objective on ARM from $125.00 to $145.00 and gave the company an "overweight" rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $150.32.

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.