Arm Holdings plc (NASDAQ:ARM) Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its stake in Arm Holdings plc (NASDAQ:ARM) by 119.1% in the fourth quarter, HoldingsChannel reports. The fund owned 27,263 shares of the company’s stock after purchasing an additional 14,821 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in ARM were worth $2,049,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Hsbc Holdings PLC acquired a new position in shares of ARM during the 3rd quarter worth approximately $219,000. Robeco Schweiz AG acquired a new position in shares of ARM during the 3rd quarter worth approximately $35,591,000. American Century Companies Inc. acquired a new position in shares of ARM during the 3rd quarter worth approximately $54,800,000. Citigroup Inc. acquired a new position in shares of ARM during the 3rd quarter worth approximately $344,000. Finally, UG Investment Advisers Ltd. acquired a new position in shares of ARM during the 3rd quarter worth approximately $3,568,000. 7.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on ARM shares. TD Cowen upped their target price on ARM from $80.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, February 8th. Barclays boosted their price target on ARM from $65.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. BNP Paribas cut ARM from an “outperform” rating to a “neutral” rating and set a $100.00 price target for the company. in a research report on Friday. New Street Research reiterated a “neutral” rating and set a $110.00 price target on shares of ARM in a research report on Tuesday, February 27th. Finally, Evercore ISI initiated coverage on ARM in a research report on Tuesday. They set an “outperform” rating and a $156.00 price target for the company. One analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of 90.28.

ARM Stock Down 16.9 %

Shares of ARM stock opened at 87.19 on Friday. Arm Holdings plc has a 52 week low of 46.50 and a 52 week high of 164.00. The business’s fifty day simple moving average is 128.44 and its 200-day simple moving average is 86.35.

ARM (NASDAQ:ARM) last announced its quarterly earnings results on Wednesday, February 7th. The company reported 0.29 EPS for the quarter, beating the consensus estimate of 0.25 by 0.04. The business had revenue of 824.00 million during the quarter, compared to analyst estimates of 762.50 million. The firm’s revenue was up 13.8% on a year-over-year basis. As a group, sell-side analysts expect that Arm Holdings plc will post 0.36 EPS 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.