Sumitomo Mitsui Trust Group Inc. Increases Stock Holdings in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM)

Sumitomo Mitsui Trust Group Inc. boosted its stake in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 15.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,987 shares of the company's stock after purchasing an additional 4,493 shares during the quarter. Sumitomo Mitsui Trust Group Inc.'s holdings in ARM were worth $3,629,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of ARM. Artisan Partners Limited Partnership raised its stake in ARM by 48.1% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,651,489 shares of the company's stock valued at $327,088,000 after purchasing an additional 860,716 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its stake in ARM by 4,506.5% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 808,953 shares of the company's stock valued at $107,774,000 after purchasing an additional 791,392 shares in the last quarter. Schroder Investment Management Group raised its stake in ARM by 17.9% in the fourth quarter. Schroder Investment Management Group now owns 3,054,331 shares of the company's stock valued at $376,782,000 after purchasing an additional 464,719 shares in the last quarter. Marshall Wace LLP purchased a new stake in ARM in the fourth quarter valued at approximately $51,901,000. Finally, Banque Transatlantique SA bought a new position in ARM during the fourth quarter valued at approximately $37,440,000. 7.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of ARM from $175.00 to $150.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Needham & Company LLC reiterated a "hold" rating on shares of ARM in a research report on Thursday, May 8th. TD Cowen decreased their target price on shares of ARM from $200.00 to $155.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Barclays cut their target price on shares of ARM from $125.00 to $115.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Finally, Morgan Stanley cut their target price on shares of ARM from $175.00 to $150.00 and set an "overweight" rating on the stock in a report on Friday, March 28th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $154.67.

ARM Stock Performance

Shares of NASDAQ ARM traded down $8.21 during mid-day trading on Monday, reaching $146.88. 6,946,132 shares of the company's stock were exchanged, compared to its average volume of 6,173,170. The firm has a market capitalization of $155.58 billion, a price-to-earnings ratio of 195.84, a PEG ratio of 7.12 and a beta of 4.19. ARM Holdings PLC Sponsored ADR has a 52-week low of $80.00 and a 52-week high of $188.75. The company's 50-day moving average is $135.98 and its 200-day moving average is $131.97.

ARM (NASDAQ:ARM - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.55 earnings per share for the quarter, topping analysts' consensus estimates of $0.52 by $0.03. ARM had a return on equity of 17.97% and a net margin of 19.76%. The business had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same period in the prior year, the business posted $0.36 EPS. The company's revenue was up 33.7% compared to the same quarter last year. As a group, equities analysts predict that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current fiscal 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.