Kovack Advisors Inc. Reduces Stock Position in Arm Holdings plc (NASDAQ:ARM)

Kovack Advisors Inc. cut its stake in Arm Holdings plc (NASDAQ:ARM) by 6.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,263 shares of the company’s stock after selling 225 shares during the period. Kovack Advisors Inc.’s holdings in ARM were worth $467,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Oppenheimer & Co. Inc. grew its stake in ARM by 4.2% in the third quarter. Oppenheimer & Co. Inc. now owns 60,614 shares of the company’s stock worth $8,668,000 after purchasing an additional 2,417 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of ARM by 5.1% in the 3rd quarter. Victory Capital Management Inc. now owns 56,421 shares of the company’s stock worth $8,069,000 after buying an additional 2,745 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in shares of ARM by 46.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 31,487 shares of the company’s stock worth $4,503,000 after buying an additional 10,047 shares in the last quarter. Rakuten Securities Inc. increased its stake in shares of ARM by 61.9% during the third quarter. Rakuten Securities Inc. now owns 63,710 shares of the company’s stock valued at $9,111,000 after buying an additional 24,364 shares during the period. Finally, OVERSEA CHINESE BANKING Corp Ltd raised its holdings in shares of ARM by 43.0% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 12,384 shares of the company’s stock valued at $1,847,000 after acquiring an additional 3,721 shares in the last quarter. Hedge funds and other institutional investors own 7.53% of the company’s stock.

ARM Trading Up 0.9 %

Shares of NASDAQ:ARM opened at $136.35 on Friday. Arm Holdings plc has a 12-month low of $53.47 and a 12-month high of $188.75. The business has a 50 day moving average of $143.11 and a two-hundred day moving average of $139.12. The company has a market capitalization of $142.87 billion, a PE ratio of 228.02, a PEG ratio of 6.39 and a beta of 5.40.

ARM (NASDAQ:ARM) last posted its 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 during the quarter, compared to analysts’ expectations of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.36 EPS. Equities research analysts predict that Arm Holdings plc will post 0.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Hsbc Global Res upgraded shares of ARM to a “moderate sell” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft lifted their price target on ARM from $82.00 to $105.00 and gave the company a “hold” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. increased their target price 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. Benchmark initiated coverage on shares of ARM in a report on Monday, September 16th. They issued a “hold” rating on the stock. Finally, Citigroup increased their price objective on ARM from $150.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $147.95.

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.