Norinchukin Bank The Makes New Investment in ARM Holdings PLC Sponsored ADR $ARM

Key Points

• Norinchukin Bank acquired 3,514 shares of ARM Holdings PLC Sponsored ADR, valued at approximately $375,000, marking a new investment in the company during the first quarter.
• Analysts have varying opinions on ARM's stock, with one analyst rating it a Strong Buy while others have issued target prices between $155.00 and $175.00, reflecting confidence in its potential despite some reductions.
• ARM's recent earnings report showed an earnings per share (EPS) of $0.35, slightly above analyst expectations, with revenue of $1.05 billion for the quarter, indicating a 12.1% year-over-year growth.

Norinchukin Bank The acquired a new stake in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,514 shares of the company's stock, valued at approximately $375,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ARM. TFC Financial Management Inc. lifted its position in ARM by 163.4% in the 1st quarter. TFC Financial Management Inc. now owns 266 shares of the company's stock valued at $28,000 after acquiring an additional 165 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of ARM in the first quarter worth approximately $28,000. N.E.W. Advisory Services LLC bought a new position in shares of ARM in the first quarter valued at approximately $34,000. Colonial Trust Co SC bought a new position in shares of ARM in the fourth quarter valued at approximately $40,000. Finally, MorganRosel Wealth Management LLC purchased a new position in shares of ARM during the first quarter valued at approximately $53,000. 7.53% of the stock is owned by institutional investors.

ARM Stock Performance

ARM traded up $1.89 during midday trading on Thursday, reaching $142.55. The company had a trading volume of 2,874,475 shares, compared to its average volume of 5,021,857. The business has a 50-day moving average price of $148.24 and a two-hundred day moving average price of $131.98. ARM Holdings PLC Sponsored ADR has a 12-month low of $80.00 and a 12-month high of $182.88. The stock has a market cap of $150.61 billion, a PE ratio of 215.98, a P/E/G ratio of 9.40 and a beta of 4.17.

ARM (NASDAQ:ARM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. ARM had a return on equity of 15.56% and a net margin of 16.96%.The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the business earned $0.40 earnings per share. ARM's revenue for the quarter was up 12.1% on a year-over-year basis. On average, research analysts anticipate that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

ARM has been the subject of a number of analyst reports. Needham & Company LLC reissued a "hold" rating on shares of ARM in a research report on Thursday, July 31st. Bank of America lowered their target price on shares of ARM from $144.00 to $135.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Citigroup dropped their price target on shares of ARM from $200.00 to $170.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Wells Fargo & Company upped their price objective on shares of ARM from $145.00 to $175.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Finally, UBS Group dropped their target price on shares of ARM from $185.00 to $175.00 and set a "buy" rating on the stock in a research report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, ARM has a consensus rating of "Moderate Buy" and an average 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.