Arm Holdings plc (NASDAQ:ARM) Stake Lowered by Nvidia Corp

Nvidia Corp reduced its stake in shares of Arm Holdings plc (NASDAQ:ARM) by 43.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,101,249 shares of the company’s stock after selling 859,535 shares during the period. ARM accounts for 46.2% of Nvidia Corp’s investment portfolio, making the stock its biggest holding. Nvidia Corp owned 0.11% of ARM worth $135,850,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Bank of New York Mellon Corp lifted its stake in shares of ARM by 5.4% in the 4th quarter. Bank of New York Mellon Corp now owns 105,300 shares of the company’s stock valued at $12,990,000 after purchasing an additional 5,440 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in ARM by 333.8% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,884 shares of the company’s stock worth $849,000 after acquiring an additional 5,297 shares during the last quarter. Clarus Wealth Advisors acquired a new position in ARM during the 4th quarter worth $732,000. Envestnet Asset Management Inc. lifted its position in ARM by 0.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 43,124 shares of the company’s stock worth $5,320,000 after acquiring an additional 353 shares during the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in ARM during the 4th quarter worth $471,000. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ARM shares. Evercore ISI boosted their target price on shares of ARM from $176.00 to $202.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Raymond James reduced their target price on shares of ARM from $175.00 to $140.00 and set an “outperform” rating for the company in a research note on Thursday, May 8th. Morgan Stanley reduced their target price on shares of ARM from $175.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday, March 28th. TD Cowen reduced their target price on shares of ARM from $200.00 to $155.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. Finally, Citigroup reduced their target price on shares of ARM from $200.00 to $170.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $152.76.

ARM Price Performance

ARM opened at $126.68 on Wednesday. Arm Holdings plc has a one year low of $80.00 and a one year high of $188.75. The company’s 50 day simple moving average is $110.62 and its 200-day simple moving average is $131.86. The stock has a market capitalization of $132.74 billion, a P/E ratio of 166.69, a price-to-earnings-growth ratio of 6.33 and a beta of 4.39.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. ARM had a net margin of 21.82% and a return on equity of 11.94%. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same period last year, the firm earned $0.36 earnings per share. The business’s revenue for the quarter was up 33.7% on a year-over-year basis. As a group, analysts anticipate that Arm Holdings plc 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.