Nissay Asset Management Corp Japan ADV Grows Stock Holdings in ARM Holdings PLC Sponsored ADR $ARM

Key Points

• Nissay Asset Management Corp Japan ADV boosted its stake in ARM Holdings by 10.7%, owning 65,864 shares valued at $7,034,000 as of the latest SEC filing.
• Multiple hedge funds, including Price T Rowe Associates and Northern Trust, have significantly increased their holdings in ARM, reflecting growing institutional interest.
• Research firms have raised their target prices for ARM, with Morgan Stanley increasing it from $150.00 to $194.00, indicating strong investor confidence in the company’s growth potential.

Nissay Asset Management Corp Japan ADV raised its stake in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 10.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,864 shares of the company's stock after acquiring an additional 6,381 shares during the period. Nissay Asset Management Corp Japan ADV's holdings in ARM were worth $7,034,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. NWI Management LP acquired a new position in ARM in the 1st quarter valued at $14,417,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake 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 during the last quarter. Integrated Wealth Concepts LLC increased its stake 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 during the last quarter. Ionic Capital Management LLC bought a new position in shares of ARM in the 1st quarter valued at $502,000. Finally, Alliancebernstein L.P. increased its stake in shares of ARM by 45.2% in the 1st quarter. Alliancebernstein L.P. now owns 163,444 shares of the company's stock valued at $17,454,000 after purchasing an additional 50,889 shares during the last quarter. 7.53% of the stock is owned by institutional investors and hedge funds.

ARM Stock Performance

Shares of NASDAQ ARM traded up $2.69 during trading hours on Friday, hitting $138.17. The company's stock had a trading volume of 2,815,559 shares, compared to its average volume of 3,576,273. The stock has a market cap of $145.98 billion, a price-to-earnings ratio of 143.93, a P/E/G ratio of 9.23 and a beta of 4.17. ARM Holdings PLC Sponsored ADR has a 12 month low of $80.00 and a 12 month high of $182.88. The business has a 50-day simple moving average of $145.89 and a 200-day simple moving average of $130.83.

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ARM. UBS Group decreased their price target on ARM from $185.00 to $175.00 and set a "buy" rating on the stock in a research note on Thursday, July 31st. KeyCorp reaffirmed an "overweight" rating and issued a $190.00 target price (up previously from $175.00) on shares of ARM in a report on Thursday, July 31st. The Goldman Sachs Group assumed coverage on ARM in a report on Thursday, July 10th. They issued a "neutral" rating and a $160.00 target price for the company. Mizuho upped their price target on ARM from $160.00 to $180.00 and gave the company an "outperform" rating in a research report on Thursday, July 3rd. Finally, BNP Paribas upgraded ARM from a "neutral" rating to an "outperform" rating and upped their price target for the company from $110.00 to $210.00 in a research report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $169.67.

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.