Sumitomo Mitsui Trust Holdings Inc. Has $2.82 Million Position in Arm Holdings plc (NASDAQ:ARM)

Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Arm Holdings plc (NASDAQ:ARM - Free Report) by 27.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,469 shares of the company's stock after buying an additional 8,052 shares during the period. Sumitomo Mitsui Trust Holdings Inc.'s holdings in ARM were worth $2,816,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Jennison Associates LLC acquired a new position in shares of ARM during the 3rd quarter worth approximately $339,965,000. FMR LLC acquired a new position in ARM in the third quarter valued at approximately $242,812,000. Wellington Management Group LLP acquired a new position in ARM in the third quarter valued at approximately $152,896,000. Invesco Ltd. acquired a new position in ARM in the third quarter valued at approximately $143,092,000. Finally, Intel Corp acquired a new position in ARM in the third quarter valued at approximately $62,965,000. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Susquehanna reiterated a "neutral" rating and issued a $85.00 price objective on shares of ARM in a report on Thursday, April 4th. The Goldman Sachs Group upped their price target on ARM from $95.00 to $108.00 and gave the stock a "buy" rating in a research note on Wednesday, April 10th. Barclays upped their price target on ARM from $65.00 to $105.00 and gave the stock an "overweight" rating in a research note on Thursday, February 8th. Daiwa Capital Markets cut ARM from a "buy" rating to a "neutral" rating and upped their price target for the stock from $63.00 to $130.00 in a research note on Friday, February 16th. Finally, JPMorgan Chase & Co. upped their price target on ARM from $70.00 to $100.00 and gave the stock an "overweight" rating in a research note on Thursday, February 8th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of 90.28.

ARM Stock Performance

Shares of ARM stock traded down 1.95 during mid-day trading on Thursday, hitting 97.93. 6,140,800 shares of the stock were exchanged, compared to its average volume of 14,725,344. The stock's fifty day simple moving average is 125.59 and its two-hundred day simple moving average is 87.57. Arm Holdings plc has a 12-month low of 46.50 and a 12-month high of 164.00.

ARM (NASDAQ:ARM - Get Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The company reported 0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of 0.25 by 0.04. The firm had revenue of 824.00 million for the quarter, compared to analysts' expectations of 762.50 million. The firm's revenue for the quarter was up 13.8% compared to the same quarter last year. Analysts predict that Arm Holdings plc will post 0.36 earnings per share for the current year.

ARM Profile

Arm Holdings plc architects, develops, and licenses central processing unit products and related technologies for semiconductor companies and original equipment manufacturers rely on to develop products. It offers microprocessors, systems intellectual property (IPs), graphics processing units, physical IP and associated systems IPs, software, tools, and other related services.