Rakuten Securities Inc. Decreases Stock Holdings in Arm Holdings plc (NASDAQ:ARM)

Rakuten Securities Inc. lowered its holdings in shares of Arm Holdings plc (NASDAQ:ARM) by 22.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,754 shares of the company’s stock after selling 6,157 shares during the period. ARM comprises 1.2% of Rakuten Securities Inc.’s portfolio, making the stock its 22nd largest holding. Rakuten Securities Inc.’s holdings in ARM were worth $2,323,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tufton Capital Management raised its position in shares of ARM by 1.5% in the fourth quarter. Tufton Capital Management now owns 4,425 shares of the company’s stock valued at $546,000 after buying an additional 65 shares during the last quarter. Zullo Investment Group Inc. grew its holdings in ARM by 4.6% in the fourth quarter. Zullo Investment Group Inc. now owns 1,915 shares of the company’s stock valued at $236,000 after purchasing an additional 85 shares during the period. GeoWealth Management LLC grew its stake in ARM by 53.8% during the fourth quarter. GeoWealth Management LLC now owns 263 shares of the company’s stock worth $32,000 after buying an additional 92 shares during the period. Cibc World Markets Corp grew its stake in ARM by 3.5% during the fourth quarter. Cibc World Markets Corp now owns 2,838 shares of the company’s stock worth $350,000 after buying an additional 96 shares during the period. Finally, B. Riley Wealth Advisors Inc. grew its stake in ARM by 2.0% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 4,929 shares of the company’s stock worth $608,000 after buying an additional 96 shares during the period. Institutional investors and hedge funds own 7.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ARM. JPMorgan Chase & Co. decreased 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 Thursday, May 8th. TD Cowen dropped their target price on shares of ARM from $200.00 to $155.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. KGI Securities assumed coverage on shares of ARM in a report on Tuesday, April 15th. They set a “neutral” rating on the stock. Cfra Research raised shares of ARM to a “hold” rating in a report on Friday, March 21st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a report on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, ARM has an average rating of “Moderate Buy” and an average target price of $152.76.

ARM Trading Up 4.8%

ARM stock opened at $142.04 on Tuesday. Arm Holdings plc has a one year low of $80.00 and a one year high of $188.75. The firm has a market capitalization of $150.46 billion, a PE ratio of 186.90, a P/E/G ratio of 6.33 and a beta of 4.08. The firm has a 50-day moving average of $121.41 and a two-hundred day moving average of $130.65.

ARM (NASDAQ:ARM) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.23 billion. ARM had a net margin of 21.82% and a return on equity of 11.94%. The firm’s revenue was up 33.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 earnings per share. On average, equities research analysts anticipate that Arm Holdings plc will post 0.9 earnings per share 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.