Iyo Bank Ltd. Makes New Investment in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM)

Key Points

• Iyo Bank Ltd. has made a new investment in ARM Holdings PLC with the purchase of 6,915 shares valued at approximately $738,000.
• Institutional investors collectively hold 7.53% of ARM's stock, with significant increases in ownership reported from firms such as Bank of Montreal Can and Cerity Partners LLC.
• ARM's recent earnings report showed a 12.1% year-over-year revenue increase, with earnings per share slightly exceeding analysts' expectations at $0.35.

Iyo Bank Ltd. acquired a new stake in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 6,915 shares of the company's stock, valued at approximately $738,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Sowell Financial Services LLC bought a new stake in shares of ARM in the first quarter worth about $229,000. Envestnet Asset Management Inc. boosted its position in shares of ARM by 0.8% during the fourth 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. Geode Capital Management LLC boosted its position in shares of ARM by 0.8% during the fourth 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. Spire Wealth Management boosted its position in shares of ARM by 15.7% during the first quarter. Spire Wealth Management now owns 1,174 shares of the company's stock worth $125,000 after buying an additional 159 shares during the period. Finally, Cerity Partners LLC boosted its position in shares of ARM by 19.2% during the first quarter. Cerity Partners LLC now owns 14,671 shares of the company's stock worth $1,567,000 after buying an additional 2,358 shares during the period. Institutional investors own 7.53% of the company's stock.

ARM Trading Down 1.2%

ARM stock traded down $1.64 during trading on Friday, reaching $138.91. 3,425,978 shares of the stock were exchanged, compared to its average volume of 5,490,024. The firm's 50 day moving average is $148.81 and its 200 day moving average is $133.46. ARM Holdings PLC Sponsored ADR has a twelve month low of $80.00 and a twelve month high of $182.88. The firm has a market cap of $146.76 billion, a P/E ratio of 210.47, a price-to-earnings-growth ratio of 9.46 and a beta of 4.17.

ARM (NASDAQ:ARM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. The business had revenue of $1.05 billion for 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% on a year-over-year basis. During the same period in the prior year, the business earned $0.40 EPS. As a group, analysts predict that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on ARM shares. Rosenblatt Securities reissued a "buy" rating and set a $180.00 price target on shares of ARM in a research report on Thursday, July 31st. The Goldman Sachs Group assumed coverage on ARM in a report on Thursday, July 10th. They set a "neutral" rating and a $160.00 price target for the company. Morgan Stanley lifted their price objective on ARM from $150.00 to $194.00 and gave the company an "overweight" rating in a report on Monday, July 28th. JPMorgan Chase & Co. decreased their price target on ARM from $175.00 to $150.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Finally, Guggenheim lifted their price target on ARM from $147.00 to $187.00 and gave the company a "buy" rating in a research note on Monday, June 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price 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.