Mirae Asset Global Investments Co. Ltd. Boosts Stock Holdings in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM)

Mirae Asset Global Investments Co. Ltd. increased its stake in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 26.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 438,926 shares of the company's stock after buying an additional 93,117 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in ARM were worth $47,285,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of ARM. GeoWealth Management LLC raised its stake in shares of ARM by 53.8% during the fourth quarter. GeoWealth Management LLC now owns 263 shares of the company's stock valued at $32,000 after acquiring an additional 92 shares in the last quarter. TFC Financial Management Inc. raised its position in ARM by 163.4% during the 1st quarter. TFC Financial Management Inc. now owns 266 shares of the company's stock valued at $28,000 after purchasing an additional 165 shares in the last quarter. Colonial Trust Co SC bought a new stake in ARM during the 4th quarter valued at $40,000. Farther Finance Advisors LLC raised its position in ARM by 108.6% during the 4th quarter. Farther Finance Advisors LLC now owns 870 shares of the company's stock valued at $107,000 after purchasing an additional 453 shares in the last quarter. Finally, Harbour Investments Inc. raised its holdings in shares of ARM by 40.1% in the fourth quarter. Harbour Investments Inc. now owns 902 shares of the company's stock valued at $111,000 after acquiring an additional 258 shares in the last quarter. 7.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ARM shares. Citigroup reduced their price target on shares of ARM from $200.00 to $170.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Cfra Research raised ARM to a "hold" rating in a research report on Friday, March 21st. Guggenheim cut their price target on shares of ARM from $180.00 to $147.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. JPMorgan Chase & Co. cut their target price on ARM from $175.00 to $150.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Finally, Wells Fargo & Company cut their target price on ARM from $150.00 to $145.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, ARM presently has a consensus rating of "Moderate Buy" and a consensus price target of $152.76.

ARM Trading Up 4.6%

ARM traded up $7.31 during trading on Friday, hitting $165.46. The company's stock had a trading volume of 7,477,239 shares, compared to its average volume of 6,235,815. ARM Holdings PLC Sponsored ADR has a twelve month low of $80.00 and a twelve month high of $188.75. The business's fifty day simple moving average is $130.20 and its 200 day simple moving average is $131.55. The firm has a market capitalization of $175.27 billion, a price-to-earnings ratio of 220.61, a P/E/G ratio of 7.26 and a beta of 4.08.

ARM (NASDAQ:ARM - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.52 by $0.03. ARM had a return on equity of 17.97% and a net margin of 19.76%. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period last year, the company earned $0.36 earnings per share. ARM's quarterly revenue was up 33.7% compared to the same quarter last year. As a group, equities research analysts forecast 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.