QRG Capital Management Inc. Sells 280 Shares of ARM Holdings PLC Sponsored ADR $ARM

QRG Capital Management Inc. reduced its holdings in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 3.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,709 shares of the company’s stock after selling 280 shares during the quarter. QRG Capital Management Inc.’s holdings in ARM were worth $1,409,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ARM. Park Avenue Securities LLC grew its stake in shares of ARM by 45.3% during the 1st quarter. Park Avenue Securities LLC now owns 5,217 shares of the company’s stock worth $557,000 after acquiring an additional 1,627 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of ARM by 85.7% during the 1st quarter. Farther Finance Advisors LLC now owns 1,616 shares of the company’s stock worth $173,000 after acquiring an additional 746 shares in the last quarter. Simplicity Wealth LLC bought a new position in shares of ARM during the 1st quarter worth approximately $1,313,000. Nepsis Inc. bought a new position in shares of ARM during the 1st quarter worth approximately $9,183,000. Finally, GPS Wealth Strategies Group LLC grew its stake in shares of ARM by 1.3% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 22,467 shares of the company’s stock worth $2,399,000 after acquiring an additional 296 shares in the last quarter. 7.53% of the stock is owned by institutional investors.

ARM Price Performance

Shares of ARM stock opened at $159.35 on Wednesday. The business has a fifty day simple moving average of $142.78 and a two-hundred day simple moving average of $134.29. ARM Holdings PLC Sponsored ADR has a 1 year low of $80.00 and a 1 year high of $182.88. The company has a market capitalization of $168.35 billion, a price-to-earnings ratio of 241.44, a P/E/G ratio of 9.50 and a beta of 4.10.

ARM (NASDAQ:ARM) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. ARM had a return on equity of 15.56% and a net margin of 16.96%.The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter last year, the firm posted $0.40 EPS. The company’s quarterly revenue was up 12.1% on a year-over-year basis. As a group, equities analysts anticipate that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ARM has been the subject of several research reports. Mizuho raised their price target on shares of ARM from $160.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, July 3rd. The Goldman Sachs Group assumed coverage on shares of ARM in a research note on Thursday, July 10th. They issued a “neutral” rating and a $160.00 target price for the company. Raymond James Financial raised their target price on shares of ARM from $140.00 to $165.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Morgan Stanley raised their target price on shares of ARM from $150.00 to $194.00 and gave the company an “overweight” rating in a research note on Monday, July 28th. Finally, Wells Fargo & Company raised their target price on shares of ARM from $145.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, ARM has an average rating of “Moderate Buy” and a consensus price target of $168.52.

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.