Loomis Sayles & Co. L P Sells 75,387 Shares of Arm Holdings plc (NASDAQ:ARM)

Loomis Sayles & Co. L P lessened its stake in shares of Arm Holdings plc (NASDAQ:ARM) by 7.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 896,700 shares of the company’s stock after selling 75,387 shares during the quarter. Loomis Sayles & Co. L P owned approximately 0.09% of ARM worth $128,237,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd boosted its holdings in shares of ARM by 130.1% during the third quarter. Harvest Fund Management Co. Ltd now owns 20,102 shares of the company’s stock worth $2,872,000 after purchasing an additional 11,364 shares during the period. Fisher Asset Management LLC raised its position in ARM by 16.0% during the 3rd quarter. Fisher Asset Management LLC now owns 1,657 shares of the company’s stock valued at $237,000 after purchasing an additional 229 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in ARM by 7.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 13,076 shares of the company’s stock worth $1,869,000 after buying an additional 946 shares during the period. Centaurus Financial Inc. grew its position in shares of ARM by 205.8% in the 3rd quarter. Centaurus Financial Inc. now owns 4,162 shares of the company’s stock worth $595,000 after buying an additional 2,801 shares during the last quarter. Finally, Larson Financial Group LLC increased its stake in shares of ARM by 259.0% during the third quarter. Larson Financial Group LLC now owns 1,041 shares of the company’s stock valued at $149,000 after buying an additional 751 shares during the period. Institutional investors own 7.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ARM. UBS Group assumed coverage on shares of ARM in a report on Monday. They issued a “buy” rating and a $160.00 price target on the stock. The Goldman Sachs Group upped their target price on ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Benchmark initiated coverage on ARM in a research note on Monday, September 16th. They issued a “hold” rating for the company. Raymond James initiated coverage on ARM in a research note on Friday, September 13th. They issued an “outperform” rating and a $160.00 price target on the stock. Finally, Needham & Company LLC reissued a “hold” rating on shares of ARM in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $150.32.

ARM Stock Performance

Shares of NASDAQ:ARM opened at $135.99 on Monday. The firm has a market cap of $142.49 billion, a price-to-earnings ratio of 226.65, a price-to-earnings-growth ratio of 6.79 and a beta of 5.40. The business has a 50-day simple moving average of $143.30 and a two-hundred day simple moving average of $140.87. Arm Holdings plc has a fifty-two week low of $60.37 and a fifty-two week high of $188.75.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.04. ARM had a net margin of 18.13% and a return on equity of 13.69%. The firm had revenue of $844.00 million during the quarter, compared to analysts’ expectations of $810.03 million. During the same period in the previous year, the company earned $0.36 earnings per share. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, research analysts predict that Arm Holdings plc will post 0.79 earnings per share for the current year.

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.