Mitsubishi UFJ Asset Management Co. Ltd. Grows Stock Position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in ARM Holdings by 27.4%, now owning 76,172 shares valued at $8.13 million after purchasing 16,399 additional shares.
• Several hedge funds have made significant adjustments to their ARM positions, with one firm increasing its stake by 163.4% and others also showing strong interest in the stock.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for ARM, with price target adjustments ranging from $135 to $194, indicating positive outlook amidst mixed earnings results.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 27.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 76,172 shares of the company's stock after purchasing an additional 16,399 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.'s holdings in ARM were worth $8,134,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Goldman Sachs Group Inc. grew its stake in shares of ARM by 59.3% during 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 period. Sustainable Growth Advisers LP purchased a new position in shares of ARM during the first quarter valued at $170,287,000. Marshall Wace LLP bought a new stake in ARM during the fourth quarter valued at about $51,901,000. Banque Transatlantique SA acquired a new stake in ARM in the fourth quarter worth about $37,440,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of ARM during the fourth quarter worth about $32,655,000. Institutional investors own 7.53% of the company's stock.

Wall Street Analysts Forecast Growth

ARM has been the subject of a number of recent analyst reports. Benchmark restated a "hold" rating on shares of ARM in a research report on Monday, June 9th. BNP Paribas upgraded ARM from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $110.00 to $210.00 in a report on Wednesday, July 16th. UBS Group decreased their target price on ARM from $185.00 to $175.00 and set a "buy" rating for the company in a research report on Thursday, July 31st. JPMorgan Chase & Co. decreased their price objective on ARM from $175.00 to $150.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Finally, Loop Capital cut their target price on ARM from $195.00 to $155.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, six have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $169.67.

ARM Price Performance

Shares of ARM stock traded down $1.53 during mid-day trading on Friday, hitting $139.02. The company had a trading volume of 2,371,214 shares, compared to its average volume of 5,482,991. The stock's 50 day moving average price is $148.81 and its 200-day moving average price is $133.46. ARM Holdings PLC Sponsored ADR has a 52-week low of $80.00 and a 52-week high of $182.88. The company has a market capitalization of $146.88 billion, a P/E ratio of 211.10, a P/E/G ratio of 9.46 and a beta of 4.17.

ARM (NASDAQ:ARM - Get Free Report) last released its quarterly 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 business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.06 billion. ARM had a net margin of 16.96% and a return on equity of 15.56%. The company's quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.40 earnings per share. On average, equities research analysts expect that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current year.

ARM 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.