Allianz Asset Management GmbH Decreases Position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM)

Allianz Asset Management GmbH lessened its holdings in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 19.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,615 shares of the company’s stock after selling 11,598 shares during the quarter. Allianz Asset Management GmbH’s holdings in ARM were worth $5,192,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in ARM. TFC Financial Management Inc. grew its holdings in ARM by 163.4% in the 1st quarter. TFC Financial Management Inc. now owns 266 shares of the company’s stock worth $28,000 after acquiring an additional 165 shares during the last quarter. GeoWealth Management LLC boosted its stake in shares of ARM by 53.8% during the 4th quarter. GeoWealth Management LLC now owns 263 shares of the company’s stock valued at $32,000 after purchasing an additional 92 shares in the last quarter. Colonial Trust Co SC bought a new stake in shares of ARM during the 4th quarter valued at about $40,000. MorganRosel Wealth Management LLC bought a new stake in shares of ARM during the 1st quarter valued at about $53,000. Finally, Valley National Advisers Inc. boosted its stake in shares of ARM by 24.5% during the 1st quarter. Valley National Advisers Inc. now owns 763 shares of the company’s stock valued at $81,000 after purchasing an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 7.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ARM. Guggenheim lifted their target price on shares of ARM from $147.00 to $187.00 and gave the company a “buy” rating in a research note on Monday, June 30th. Loop Capital dropped their price objective on shares of ARM from $195.00 to $155.00 and set a “buy” rating on the stock in a research note on Tuesday, May 13th. Rosenblatt Securities dropped their price objective on shares of ARM from $203.00 to $180.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Wells Fargo & Company boosted their price objective on shares of ARM from $145.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, July 21st. Finally, BNP Paribas Exane raised shares of ARM from a “neutral” rating to an “outperform” rating and set a $210.00 price objective on the stock in a research note on Wednesday, July 16th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, ARM presently has an average rating of “Moderate Buy” and a consensus price target of $162.96.

ARM Price Performance

Shares of ARM stock opened at $164.37 on Tuesday. The company’s fifty day simple moving average is $145.26 and its 200-day simple moving average is $134.07. The stock has a market capitalization of $173.66 billion, a PE ratio of 219.16, a P/E/G ratio of 9.42 and a beta of 4.19. ARM Holdings PLC Sponsored ADR has a 1-year low of $80.00 and a 1-year high of $182.88.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.03. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.23 billion. ARM had a net margin of 19.76% and a return on equity of 17.97%. The company’s revenue was up 33.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.36 EPS. As a group, research analysts anticipate that ARM Holdings PLC Sponsored ADR will post 0.9 EPS for the current year.

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.