ARM Holdings PLC Sponsored ADR $ARM Shares Sold by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments Co. Ltd. reduced its stake in ARM Holdings PLC by 0.7%, selling 3,024 shares, leaving it with 435,902 shares valued at approximately $70.5 million.
• Several institutional investors altered their holdings in ARM, with Global X Japan Co. Ltd. significantly increasing its stake by 638.4% during the second quarter.
• Analysts have mixed ratings for ARM, reflecting varying expectations, with UBS Group lowering their target price to $175 while KeyCorp raised theirs to $190.

Mirae Asset Global Investments Co. Ltd. lessened its stake in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 0.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 435,902 shares of the company's stock after selling 3,024 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in ARM were worth $70,503,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Sowell Financial Services LLC acquired a new stake in shares of ARM in the 1st quarter valued at about $229,000. Swedbank AB acquired a new stake in shares of ARM in the 1st quarter valued at about $18,667,000. Integrated Wealth Concepts LLC raised its stake in ARM by 24.0% during the first quarter. Integrated Wealth Concepts LLC now owns 10,465 shares of the company's stock worth $1,118,000 after acquiring an additional 2,025 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in ARM by 12.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 107,728 shares of the company's stock worth $11,505,000 after acquiring an additional 11,953 shares during the period. Finally, Global X Japan Co. Ltd. raised its stake in ARM by 638.4% during the second quarter. Global X Japan Co. Ltd. now owns 80,239 shares of the company's stock worth $12,978,000 after acquiring an additional 69,372 shares during the period. Institutional investors and hedge funds own 7.53% of the company's stock.

Wall Street Analysts Forecast Growth

ARM has been the topic of several research reports. UBS Group dropped their price objective on shares of ARM from $185.00 to $175.00 and set a "buy" rating on the stock in a research note on Thursday, July 31st. KeyCorp reiterated an "overweight" rating and set a $190.00 price objective (up previously from $175.00) on shares of ARM in a research note on Thursday, July 31st. Benchmark reiterated a "hold" rating on shares of ARM in a research note on Monday, June 9th. BNP Paribas Exane upgraded shares of ARM from a "neutral" rating to an "outperform" rating and set a $210.00 price objective on the stock in a research note on Wednesday, July 16th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $180.00 price objective on shares of ARM in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, ARM currently has an average rating of "Moderate Buy" and an average target price of $168.52.

ARM Trading Up 1.2%

NASDAQ ARM opened at $152.15 on Friday. ARM Holdings PLC Sponsored ADR has a 52 week low of $80.00 and a 52 week high of $182.88. The stock has a market cap of $160.75 billion, a price-to-earnings ratio of 230.53, a price-to-earnings-growth ratio of 9.14 and a beta of 4.10. The company has a 50-day moving average price of $143.24 and a two-hundred day moving average price of $133.41.

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

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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