Zurcher Kantonalbank Zurich Cantonalbank Acquires 514 Shares of Arm Holdings plc (NASDAQ:ARM)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Arm Holdings plc (NASDAQ:ARM) by 49.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,555 shares of the company’s stock after purchasing an additional 514 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in ARM were worth $117,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Hsbc Holdings PLC purchased a new position in ARM during the 3rd quarter valued at about $219,000. Robeco Schweiz AG purchased a new position in ARM during the third quarter valued at approximately $35,591,000. American Century Companies Inc. bought a new position in ARM in the third quarter worth approximately $54,800,000. Citigroup Inc. bought a new stake in ARM during the 3rd quarter valued at $344,000. Finally, UG Investment Advisers Ltd. purchased a new position in shares of ARM in the 3rd quarter valued at $3,568,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

ARM Stock Down 2.3 %

ARM opened at 103.59 on Friday. Arm Holdings plc has a fifty-two week low of 46.50 and a fifty-two week high of 164.00. The company has a fifty day moving average of 120.40 and a two-hundred day moving average of 90.99.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Wednesday, May 8th. The company reported 0.36 EPS for the quarter, topping the consensus estimate of 0.30 by 0.06. The company had revenue of 928.00 million during the quarter, compared to analysts’ expectations of 865.94 million. During the same period in the previous year, the firm posted $0.02 EPS. ARM’s revenue was up 46.6% compared to the same quarter last year. Sell-side analysts predict that Arm Holdings plc will post 0.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on ARM shares. Needham & Company LLC reiterated a “hold” rating on shares of ARM in a research note on Thursday. BNP Paribas downgraded ARM from an “outperform” rating to a “neutral” rating and set a $100.00 price target on the stock. in a research report on Friday, April 19th. Rosenblatt Securities reissued a “buy” rating and issued a $180.00 price objective on shares of ARM in a research report on Monday. Susquehanna reaffirmed a “neutral” rating and set a $85.00 target price on shares of ARM in a research report on Thursday, April 4th. Finally, Mizuho boosted their price target on ARM from $100.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of 91.64.

ARM Company 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.