Sumitomo Mitsui DS Asset Management Company Ltd Has $1.85 Million Stake in ARM Holdings PLC Sponsored ADR $ARM

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd reduced its stake in ARM Holdings by 35.2%, now holding 11,459 shares worth approximately $1.85 million.
• Institutional investors own 7.53% of ARM’s stock, with notable new positions and increases from firms like Sowell Financial Services and Integrated Wealth Concepts.
• ARM reported $1.05 billion in revenue for the latest quarter, beating earnings estimates, though EPS decreased from $0.40 to $0.35 year-over-year.

Sumitomo Mitsui DS Asset Management Company Ltd trimmed its position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 35.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 11,459 shares of the company's stock after selling 6,230 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in ARM were worth $1,853,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of ARM. Goldman Sachs Group Inc. lifted its stake in shares of ARM by 59.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,574,854 shares of the company's stock valued at $702,129,000 after acquiring an additional 2,446,224 shares during the last quarter. Sustainable Growth Advisers LP bought a new position in ARM during the 1st quarter worth $170,287,000. American Century Companies Inc. raised its position in ARM by 112.3% during the 1st quarter. American Century Companies Inc. now owns 703,365 shares of the company's stock worth $75,112,000 after purchasing an additional 372,081 shares during the last quarter. Jefferies Financial Group Inc. bought a new position in ARM during the 1st quarter worth $19,565,000. Finally, Altimeter Capital Management LP bought a new position in ARM during the 1st quarter worth $18,752,000. 7.53% of the stock is currently owned by institutional investors.

ARM Price Performance

Shares of ARM traded up $1.57 during trading hours on Monday, hitting $144.48. The stock had a trading volume of 4,698,262 shares, compared to its average volume of 4,139,115. The firm has a 50 day simple moving average of $145.30 and a 200-day simple moving average of $131.95. The firm has a market capitalization of $152.64 billion, a P/E ratio of 148.87, a price-to-earnings-growth ratio of 9.55 and a beta of 4.17. ARM Holdings PLC Sponsored ADR has a 1-year low of $80.00 and a 1-year high of $182.88.

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

Analyst Upgrades and Downgrades

ARM has been the subject of several analyst reports. Mizuho raised their target price on ARM from $160.00 to $180.00 and gave the stock an "outperform" rating in a research report on Thursday, July 3rd. BNP Paribas Exane raised ARM from a "neutral" rating to an "outperform" rating and set a $210.00 target price for the company in a research report on Wednesday, July 16th. Rosenblatt Securities reaffirmed a "buy" rating and set a $180.00 target price on shares of ARM in a research report on Thursday, July 31st. KeyCorp reaffirmed an "overweight" rating and set a $190.00 target price (up from $175.00) on shares of ARM in a research report on Thursday, July 31st. Finally, TD Cowen raised their target price on ARM from $155.00 to $175.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $168.52.

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.