621,412 Shares of Arm Holdings PLC Sponsored ADR $ARM Bought by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments acquired 621,412 ARM shares worth approximately $180 million, representing about 0.06% of the company. Institutional investors collectively own 7.53% of ARM.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $303.32, despite some firms lowering their targets.
• ARM reported quarterly revenue of $1.29 billion and earnings per share of $0.45, exceeding estimates, while revenue increased 22.4% year over year. The stock opened at $205.97, down 10%, and trades at a high valuation with a P/E ratio above 212.

Mirae Asset Global Investments Co. Ltd. acquired a new position in Arm Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 621,412 shares of the company's stock, valued at approximately $179,998,000. Mirae Asset Global Investments Co. Ltd. owned about 0.06% of ARM at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ARM. Kings Path Partners LLC acquired a new stake in ARM during the third quarter valued at approximately $29,000. Evelyn Partners Investment Management Services Ltd acquired a new position in ARM in the first quarter worth approximately $30,000. Allied Private Wealth LLC acquired a new position in ARM in the second quarter worth approximately $71,000. CX Institutional acquired a new stake in shares of ARM during the 3rd quarter valued at $58,000. Finally, Cassaday & Co Wealth Management LLC acquired a new stake in shares of ARM during the first quarter worth $40,000. 7.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ARM has been the subject of several analyst reports. Piper Sandler initiated coverage on ARM in a report on Wednesday, September 9th. They set an "overweight" rating and a $320.00 target price for the company. UBS Group reduced their target price on ARM from $360.00 to $320.00 and set a "buy" rating for the company in a report on Thursday, July 30th. Benchmark started coverage on ARM in a research note on Thursday, July 16th. They issued a "hold" rating for the company. Weiss Ratings reissued a "hold (c)" rating on shares of ARM in a research note on Thursday, October 15th. Finally, Rosenblatt Securities decreased their price objective on ARM from $270.00 to $250.00 and set a "buy" rating for the company in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $303.32.

ARM Stock Down 10.0%

ARM stock opened at $205.97 on Friday. Arm Holdings PLC Sponsored ADR has a 12-month low of $100.02 and a 12-month high of $452.70. The company has a market cap of $219.99 billion, a price-to-earnings ratio of 212.34, a PEG ratio of 6.11 and a beta of 3.78. The company has a 50 day moving average of $258.73 and a two-hundred day moving average of $227.92.

ARM (NASDAQ:ARM - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.40 by $0.05. ARM had a net margin of 20.25% and a return on equity of 12.24%. The business had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.26 billion. During the same period in the previous year, the company posted $0.35 EPS. ARM's revenue was up 22.4% on a year-over-year basis. On average, research analysts anticipate that Arm Holdings PLC Sponsored ADR will post 1.15 EPS for the current year.

Insider Activity

In related news, CFO Jason Child sold 10,400 shares of ARM stock in a transaction on Monday, September 21st. The stock was sold at an average price of $300.00, for a total transaction of $3,120,000.00. Following the completion of the sale, the chief financial officer owned 153,442 shares of the company's stock, valued at approximately $46,032,600. This trade represents a 6.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ARM Company Profile

Arm Holdings plc NASDAQ: ARM is a semiconductor and software design company that develops central processing unit (CPU) architectures and related intellectual property. Rather than manufacturing chips itself, Arm licenses its designs and instruction-set architectures to semiconductor companies and technology manufacturers, which incorporate them into their own products.

The company's offerings include CPU processor cores, graphics processing units through its Mali product family, system IP, development tools and software.

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