Toronto Dominion Bank Acquires 2,116 Shares of Arm Holdings plc (NASDAQ:ARM)

Toronto Dominion Bank increased its holdings in Arm Holdings plc (NASDAQ:ARM - Free Report) by 119.1% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 3,893 shares of the company's stock after buying an additional 2,116 shares during the quarter. Toronto Dominion Bank's holdings in ARM were worth $480,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Warm Springs Advisors Inc. purchased a new position in ARM in the fourth quarter worth about $1,851,000. GF Fund Management CO. LTD. purchased a new position in ARM in the fourth quarter worth about $2,995,000. Public Employees Retirement System of Ohio purchased a new position in ARM in the fourth quarter worth about $11,786,000. Vega Investment Solutions purchased a new position in ARM in the fourth quarter worth about $780,000. Finally, Sunbelt Securities Inc. boosted its position in ARM by 4.1% in the fourth quarter. Sunbelt Securities Inc. now owns 2,785 shares of the company's stock worth $351,000 after purchasing an additional 110 shares during the last quarter. 7.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ARM shares. JPMorgan Chase & Co. dropped their target price on ARM from $175.00 to $150.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Mizuho lifted their price objective on ARM from $160.00 to $180.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. KeyCorp lowered their price objective on ARM from $195.00 to $175.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. The Goldman Sachs Group lifted their price objective on ARM from $159.00 to $174.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Finally, Rosenblatt Securities lowered their price objective on ARM from $203.00 to $180.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $152.76.

ARM Trading Down 0.6%

Shares of NASDAQ ARM traded down $0.81 during trading hours on Thursday, hitting $129.55. 3,548,372 shares of the company traded hands, compared to its average volume of 6,798,723. The stock has a market capitalization of $137.23 billion, a price-to-earnings ratio of 170.46, a price-to-earnings-growth ratio of 6.33 and a beta of 4.08. The company's 50 day moving average price is $115.25 and its 200 day moving average price is $130.53. Arm Holdings plc has a 12 month low of $80.00 and a 12 month high of $188.75.

ARM (NASDAQ:ARM - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.03. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.23 billion. ARM had a return on equity of 11.94% and a net margin of 21.82%. The company's revenue for the quarter was up 33.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS. Equities analysts anticipate that Arm Holdings plc will post 0.9 EPS for the current year.

About ARM

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.