Vident Advisory LLC Buys 110,290 Shares of ARM Holdings PLC Sponsored ADR $ARM

Key Points

• Vident Advisory LLC increased its stake in ARM Holdings PLC by 87.5%, acquiring an additional 110,290 shares, bringing their total to 236,312 shares valued at $25.24 million.
• Wall Street analysts are optimistic about ARM, with Morgan Stanley raising its target price from $150.00 to $194.00 and BNP Paribas increasing its price objective to $210.00.
• ARM reported a quarterly earnings per share of $0.35, slightly surpassing expectations and reflecting a 12.1% revenue increase year-over-year despite a decline compared to the previous quarter.

Vident Advisory LLC grew its holdings in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 87.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 236,312 shares of the company's stock after buying an additional 110,290 shares during the period. Vident Advisory LLC's holdings in ARM were worth $25,236,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of ARM. Goldman Sachs Group Inc. raised its position in shares of ARM by 59.3% during the first 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 period. Sustainable Growth Advisers LP acquired a new position in shares of ARM during the first quarter worth approximately $170,287,000. Polar Capital Holdings Plc raised its position in shares of ARM by 11.3% during the fourth quarter. Polar Capital Holdings Plc now owns 763,939 shares of the company's stock worth $94,240,000 after purchasing an additional 77,420 shares during the period. American Century Companies Inc. raised its position in shares of ARM by 112.3% during the first 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 period. Finally, Invesco Ltd. raised its position in shares of ARM by 9.5% during the first quarter. Invesco Ltd. now owns 576,020 shares of the company's stock worth $61,513,000 after purchasing an additional 49,805 shares during the period. 7.53% of the stock is currently owned by institutional investors.

ARM Trading Down 4.3%

Shares of ARM stock traded down $5.97 on Tuesday, hitting $132.34. 5,810,248 shares of the stock were exchanged, compared to its average volume of 5,372,156. The firm has a market capitalization of $139.82 billion, a PE ratio of 200.52, a P/E/G ratio of 9.24 and a beta of 4.17. ARM Holdings PLC Sponsored ADR has a one year low of $80.00 and a one year high of $182.88. The firm's 50 day moving average is $147.89 and its two-hundred day moving average is $131.30.

ARM (NASDAQ:ARM - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.35 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter last year, the company earned $0.40 EPS. The firm's revenue was up 12.1% compared to the same quarter last year. On average, sell-side analysts expect that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current year.

Wall Street Analyst Weigh In

ARM has been the topic of a number of research reports. Bank of America lowered their target price on ARM from $144.00 to $135.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Benchmark reissued a "hold" rating on shares of ARM in a research report on Monday, June 9th. Rosenblatt Securities reissued a "buy" rating and issued a $180.00 price target on shares of ARM in a research report on Thursday, July 31st. Mizuho increased their price target on ARM from $160.00 to $180.00 and gave the company an "outperform" rating in a research report on Thursday, July 3rd. Finally, UBS Group lowered their price target on ARM from $185.00 to $175.00 and set a "buy" rating for the company 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 assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target 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.