Milestone Resources Group Ltd Decreases Stake in Arm Holdings plc (NASDAQ:ARM)

Milestone Resources Group Ltd cut its holdings in shares of Arm Holdings plc (NASDAQ:ARM) by 59.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,425 shares of the company’s stock after selling 3,545 shares during the quarter. ARM makes up approximately 0.0% of Milestone Resources Group Ltd’s portfolio, making the stock its 26th largest holding. Milestone Resources Group Ltd’s holdings in ARM were worth $347,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ARM. KP Management LLC grew its position in shares of ARM by 28.6% in the third quarter. KP Management LLC now owns 45,000 shares of the company’s stock valued at $6,435,000 after purchasing an additional 10,000 shares in the last quarter. XTX Topco Ltd boosted its stake in ARM by 150.1% in the 3rd quarter. XTX Topco Ltd now owns 6,486 shares of the company’s stock worth $928,000 after purchasing an additional 3,893 shares during the period. Willner & Heller LLC boosted its stake in ARM by 193.7% in the 3rd quarter. Willner & Heller LLC now owns 6,799 shares of the company’s stock worth $972,000 after purchasing an additional 4,484 shares during the period. Avalon Global Asset Management LLC purchased a new position in ARM during the 3rd quarter valued at about $8,581,000. Finally, United Advisor Group LLC bought a new stake in shares of ARM during the third quarter valued at about $545,000. Institutional investors own 7.53% of the company’s stock.

ARM Stock Performance

ARM traded up $7.48 on Friday, hitting $155.48. 2,682,274 shares of the company were exchanged, compared to its average volume of 10,272,295. Arm Holdings plc has a 12 month low of $65.11 and a 12 month high of $188.75. The firm has a fifty day simple moving average of $142.75 and a two-hundred day simple moving average of $143.06. The stock has a market capitalization of $162.92 billion, a PE ratio of 246.67, a price-to-earnings-growth ratio of 7.15 and a beta of 4.67.

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. William Blair started coverage on shares of ARM in a research report on Wednesday, September 18th. They issued an “outperform” rating for the company. Benchmark began coverage on shares of ARM in a report on Monday, September 16th. They issued a “hold” rating for the company. Sanford C. Bernstein cut shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price target on the stock. in a report on Thursday, October 31st. Loop Capital increased their price objective on ARM from $130.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. boosted their target price on ARM from $140.00 to $160.00 and gave the stock an “overweight” rating 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $150.32.

ARM 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.