Swedbank AB Purchases 80,900 Shares of ARM Holdings PLC Sponsored ADR $ARM

Key Points

• Swedbank AB increased its holdings in ARM Holdings PLC by 46.3% during the second quarter, owning a total of 255,700 shares valued at approximately $41.36 million.
• ARM reported earnings of $0.35 per share for the last quarter, beating estimates and showing a 12.1% year-over-year revenue growth, totaling $1.05 billion.
• Multiple analyst upgrades have raised ARM's stock price target significantly, with BNP Paribas setting a new target of $210.00, reflecting positive market sentiment towards the company's future performance.

Swedbank AB grew its holdings in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 46.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 255,700 shares of the company's stock after purchasing an additional 80,900 shares during the quarter. Swedbank AB's holdings in ARM were worth $41,357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. TFC Financial Management Inc. raised its stake in ARM by 163.4% during the 1st quarter. TFC Financial Management Inc. now owns 266 shares of the company's stock worth $28,000 after buying an additional 165 shares during the period. Brooklyn Investment Group acquired a new position in ARM during the 1st quarter worth approximately $28,000. N.E.W. Advisory Services LLC acquired a new position in ARM during the 1st quarter worth approximately $34,000. MorganRosel Wealth Management LLC acquired a new position in ARM during the 1st quarter worth approximately $53,000. Finally, Pandora Wealth Inc. acquired a new position in ARM during the 1st quarter worth approximately $53,000. 7.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. The Goldman Sachs Group assumed coverage on ARM in a research note on Thursday, July 10th. They set a "neutral" rating and a $160.00 price target on the stock. Raymond James Financial boosted their price objective on ARM from $140.00 to $165.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. BNP Paribas raised ARM from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $110.00 to $210.00 in a report on Wednesday, July 16th. Needham & Company LLC reissued a "hold" rating on shares of ARM in a report on Thursday, July 31st. Finally, Mizuho boosted their price objective on ARM from $160.00 to $180.00 and gave the stock an "outperform" rating in a report on Thursday, July 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $168.52.

ARM Trading Down 1.1%

Shares of ARM stock traded down $1.60 during trading on Tuesday, hitting $142.89. The company's stock had a trading volume of 825,360 shares, compared to its average volume of 5,308,193. The company has a market cap of $150.96 billion, a PE ratio of 216.51, a P/E/G ratio of 9.55 and a beta of 4.17. The business has a fifty day moving average of $145.30 and a 200-day moving average of $132.08. 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 released its earnings results on Wednesday, July 30th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.06 billion. ARM had a return on equity of 15.56% and a net margin of 16.96%.ARM's quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.40 earnings per share. As a group, research analysts predict that ARM Holdings PLC Sponsored ADR will post 0.9 EPS for the current 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.