Goldman Sachs Group Inc. Acquires 2,446,224 Shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM)

Key Points

• Goldman Sachs Group Inc. increased its stake in ARM Holdings PLC by 59.3%, acquiring an additional 2,446,224 shares, bringing its total ownership to approximately 6.57 million shares valued at $702.1 million.
• Analyst ratings for ARM reflect a generally positive outlook, with 19 analysts giving it a "buy" rating, while the stock has a consensus price target of $169.67.
• ARM's stock recently traded up 2.2% to $138.50, with an annual trading range between $80.00 and $182.88.

Goldman Sachs Group Inc. increased its stake in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 59.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 6,574,854 shares of the company's stock after purchasing an additional 2,446,224 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.63% of ARM worth $702,129,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ARM. Geode Capital Management LLC increased its position in ARM by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 108,531 shares of the company's stock worth $13,388,000 after buying an additional 848 shares during the period. Wells Fargo & Company MN increased its position in ARM by 0.3% in the 4th quarter. Wells Fargo & Company MN now owns 335,721 shares of the company's stock worth $41,414,000 after buying an additional 1,160 shares during the period. Envestnet Asset Management Inc. increased its position in ARM by 0.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 43,124 shares of the company's stock worth $5,320,000 after buying an additional 353 shares during the period. FMR LLC increased its position in shares of ARM by 6.4% during the fourth quarter. FMR LLC now owns 2,199,197 shares of the company's stock valued at $271,293,000 after purchasing an additional 133,034 shares during the period. Finally, Cerity Partners LLC increased its position in shares of ARM by 2.5% during the fourth quarter. Cerity Partners LLC now owns 12,313 shares of the company's stock valued at $1,522,000 after purchasing an additional 300 shares during the period. 7.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ARM shares. Mizuho boosted their price objective on ARM from $160.00 to $180.00 and gave the company an "outperform" rating in a research report on Thursday, July 3rd. 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. UBS Group lowered their price target on ARM from $185.00 to $175.00 and set a "buy" rating on the stock in a research report on Thursday, July 31st. Benchmark reiterated a "hold" rating on shares of ARM in a research report on Monday, June 9th. Finally, Loop Capital lowered their price target on ARM from $195.00 to $155.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $169.67.

ARM Trading Up 2.2%

Shares of ARM traded up $2.93 during trading hours on Friday, hitting $138.50. 3,473,779 shares of the stock traded hands, compared to its average volume of 5,508,053. ARM Holdings PLC Sponsored ADR has a 1-year low of $80.00 and a 1-year high of $182.88. The firm has a market capitalization of $146.33 billion, a PE ratio of 209.85, a price-to-earnings-growth ratio of 9.06 and a beta of 4.17. The business has a fifty day moving average of $147.79 and a 200-day moving average of $134.07.

ARM (NASDAQ:ARM - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.01. The business 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 was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the company 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.