Kovitz Investment Group Partners LLC Sells 80 Shares of Arm Holdings plc (NASDAQ:ARM)

Kovitz Investment Group Partners LLC reduced its position in Arm Holdings plc (NASDAQ:ARM) by 2.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,220 shares of the company’s stock after selling 80 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in ARM were worth $429,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. RiverPark Advisors LLC raised its holdings in shares of ARM by 45.3% in the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after acquiring an additional 77 shares in the last quarter. Hexagon Capital Partners LLC raised its stake in ARM by 14.0% in the third quarter. Hexagon Capital Partners LLC now owns 627 shares of the company’s stock valued at $90,000 after purchasing an additional 77 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in ARM by 1.1% during the third quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the company’s stock valued at $1,359,000 after purchasing an additional 100 shares during the last quarter. Great Valley Advisor Group Inc. grew its stake in ARM by 5.5% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 1,963 shares of the company’s stock worth $281,000 after buying an additional 102 shares in the last quarter. Finally, Comerica Bank increased its holdings in shares of ARM by 6.1% in the 1st quarter. Comerica Bank now owns 1,780 shares of the company’s stock worth $222,000 after buying an additional 103 shares during the last quarter. Hedge funds and other institutional investors own 7.53% of the company’s stock.

ARM Price Performance

Shares of NASDAQ ARM opened at $148.00 on Friday. Arm Holdings plc has a 1 year low of $62.75 and a 1 year high of $188.75. The company’s 50-day moving average is $142.75 and its 200 day moving average is $143.06. The stock has a market capitalization of $155.08 billion, a P/E ratio of 246.67, a P/E/G ratio of 7.03 and a beta of 4.71.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. The company had revenue of $844.00 million during the quarter, compared to analysts’ expectations of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.36 EPS. Research analysts anticipate that Arm Holdings plc will post 0.79 earnings per share for the current year.

Wall Street Analyst Weigh In

ARM has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of ARM in a research note on Thursday, November 7th. Wells Fargo & Company assumed coverage on ARM in a research report on Friday, November 22nd. They set an “overweight” rating and a $155.00 price objective on the stock. TD Cowen boosted their target price on ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. The Goldman Sachs Group increased their price target on shares of ARM from $144.00 to $159.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Susquehanna boosted their price objective on shares of ARM from $115.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $150.32.

ARM Company 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.