Phoenix Financial Ltd. Invests $1.62 Million in ARM Holdings PLC Sponsored ADR $ARM

Key Points

• Phoenix Financial Ltd. invested approximately $1.62 million in ARM Holdings PLC by acquiring 10,000 shares in the second quarter, showcasing increasing interest from institutional investors in the company's stock.
• Several analysts have upgraded their price targets for ARM, with Mizuho raising it to $180 and Wells Fargo to $175, indicating strong investor confidence.
• Despite a recent 1.2% drop in share price, ARM's market capitalization remains at $178.95 billion with a 52-week high of $182.88.

Phoenix Financial Ltd. acquired a new position in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 10,000 shares of the company's stock, valued at approximately $1,617,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ARM. Goldman Sachs Group Inc. increased its position 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 worth $702,129,000 after purchasing an additional 2,446,224 shares during the last quarter. Sustainable Growth Advisers LP acquired a new stake in shares of ARM during the 1st quarter worth about $170,287,000. Robeco Institutional Asset Management B.V. increased its position in shares of ARM by 3,853.4% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 520,465 shares of the company's stock worth $84,180,000 after purchasing an additional 507,300 shares during the last quarter. American Century Companies Inc. increased its position in shares of ARM by 112.3% during the 1st quarter. American Century Companies Inc. now owns 703,365 shares of the company's stock worth $75,112,000 after purchasing an additional 372,081 shares during the last quarter. Finally, Jefferies Financial Group Inc. acquired a new stake in shares of ARM during the 1st quarter worth about $19,565,000. 7.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Mizuho lifted their price objective on ARM from $160.00 to $180.00 and gave the company an "outperform" rating in a research note on Thursday, July 3rd. Wells Fargo & Company lifted their price objective on ARM from $145.00 to $175.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Raymond James Financial lifted their price objective on ARM from $140.00 to $165.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Needham & Company LLC reiterated a "hold" rating on shares of ARM in a research note on Thursday, July 31st. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of ARM in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $167.43.

ARM Stock Down 1.2%

Shares of ARM opened at $169.38 on Wednesday. The stock has a 50 day moving average price of $148.13 and a 200 day moving average price of $138.38. The company has a market capitalization of $178.95 billion, a price-to-earnings ratio of 256.64, a price-to-earnings-growth ratio of 11.18 and a beta of 4.10. ARM Holdings PLC Sponsored ADR has a 52-week low of $80.00 and a 52-week high of $182.88.

ARM (NASDAQ:ARM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.01. The firm 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 quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.40 earnings per share. On average, equities analysts anticipate that ARM Holdings PLC Sponsored ADR will post 0.9 EPS for the current fiscal year.

About ARM

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.

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