ARM Holdings PLC Sponsored ADR $ARM Shares Bought by Truist Financial Corp

Key Points

• Truist Financial Corp has increased its stake in ARM Holdings PLC by 172.4% during Q2, now holding shares worth approximately $876,000.
• ARM shares recently traded at $171.94, with a 52-week range between $80.00 and $182.88, and a market capitalization of $181.66 billion.
• Analysts have a consensus rating of "Moderate Buy" for ARM, with price targets ranging from $167.43 to $210.00 from various brokerages.

Truist Financial Corp boosted its holdings in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 172.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,415 shares of the company's stock after buying an additional 3,427 shares during the quarter. Truist Financial Corp's holdings in ARM were worth $876,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Sowell Financial Services LLC acquired a new stake in ARM during the 1st quarter worth approximately $229,000. Swedbank AB acquired a new stake in ARM during the 1st quarter worth approximately $18,667,000. Integrated Wealth Concepts LLC raised its holdings in shares of ARM by 24.0% in the 1st quarter. Integrated Wealth Concepts LLC now owns 10,465 shares of the company's stock valued at $1,118,000 after purchasing an additional 2,025 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of ARM by 12.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 107,728 shares of the company's stock valued at $11,505,000 after purchasing an additional 11,953 shares in the last quarter. Finally, Global X Japan Co. Ltd. raised its holdings in shares of ARM by 638.4% in the 2nd quarter. Global X Japan Co. Ltd. now owns 80,239 shares of the company's stock valued at $12,978,000 after purchasing an additional 69,372 shares in the last quarter. 7.53% of the stock is currently owned by institutional investors and hedge funds.

ARM Stock Up 11.1%

Shares of ARM stock opened at $171.94 on Tuesday. ARM Holdings PLC Sponsored ADR has a 52-week low of $80.00 and a 52-week high of $182.88. The company's 50-day simple moving average is $144.42 and its 200-day simple moving average is $135.79. The firm has a market cap of $181.66 billion, a price-to-earnings ratio of 260.52, a price-to-earnings-growth ratio of 10.10 and a beta of 4.10.

ARM (NASDAQ:ARM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. ARM had a net margin of 16.96% and a return on equity of 15.56%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the previous year, the business posted $0.40 earnings per share. The business's revenue was up 12.1% compared to the same quarter last year. Equities research analysts anticipate that ARM Holdings PLC Sponsored ADR will post 0.9 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ARM. BNP Paribas upgraded shares of ARM from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $110.00 to $210.00 in a report on Wednesday, July 16th. Needham & Company LLC reaffirmed a "hold" rating on shares of ARM in a report on Thursday, July 31st. Evercore ISI lifted their price target on shares of ARM from $173.00 to $178.00 and gave the stock an "outperform" rating in a research note on Thursday, September 11th. BNP Paribas Exane upgraded shares of ARM from a "neutral" rating to an "outperform" rating and set a $210.00 price target on the stock in a research note on Wednesday, July 16th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of ARM in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, ARM currently has a consensus rating of "Moderate Buy" and a consensus price target of $167.43.

ARM Company 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.

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