Mirae Asset Global Investments Co. Ltd. Acquires 93,117 Shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM)

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 26.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 438,926 shares of the company’s stock after acquiring an additional 93,117 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in ARM were worth $47,285,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. GeoWealth Management LLC increased its holdings in shares of ARM by 53.8% in the fourth quarter. GeoWealth Management LLC now owns 263 shares of the company’s stock worth $32,000 after purchasing an additional 92 shares during the last quarter. TFC Financial Management Inc. increased its holdings in shares of ARM by 163.4% in the first quarter. TFC Financial Management Inc. now owns 266 shares of the company’s stock worth $28,000 after purchasing an additional 165 shares during the last quarter. Colonial Trust Co SC bought a new stake in shares of ARM in the fourth quarter worth about $40,000. Farther Finance Advisors LLC increased its holdings in shares of ARM by 108.6% in the fourth quarter. Farther Finance Advisors LLC now owns 870 shares of the company’s stock worth $107,000 after purchasing an additional 453 shares during the last quarter. Finally, Harbour Investments Inc. increased its holdings in shares of ARM by 40.1% in the fourth quarter. Harbour Investments Inc. now owns 902 shares of the company’s stock worth $111,000 after purchasing an additional 258 shares during the last quarter. 7.53% of the stock is owned by institutional investors.

ARM Price Performance

Shares of NASDAQ:ARM opened at $165.46 on Friday. ARM Holdings PLC Sponsored ADR has a 1 year low of $80.00 and a 1 year high of $188.75. The business has a 50 day simple moving average of $130.20 and a two-hundred day simple moving average of $131.55. The firm has a market capitalization of $175.27 billion, a PE ratio of 220.61, a price-to-earnings-growth ratio of 7.26 and a beta of 4.08.

ARM (NASDAQ:ARM) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.23 billion. ARM had a return on equity of 17.97% and a net margin of 19.76%. ARM’s quarterly revenue was up 33.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.36 earnings per share. Equities research analysts expect that ARM Holdings PLC Sponsored ADR will post 0.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ARM. Rosenblatt Securities reduced their target price on ARM from $203.00 to $180.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. UBS Group reduced their target price on ARM from $215.00 to $165.00 and set a “buy” rating on the stock in a report on Tuesday, April 29th. Benchmark reiterated a “hold” rating on shares of ARM in a research report on Monday, June 9th. Bank of America dropped their price target on ARM from $144.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. Finally, Barclays dropped their price target on ARM from $125.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday, May 8th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $152.76.

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.