American Century Companies Inc. Makes New $5.89 Million Investment in Arm Holdings plc (NASDAQ:ARM)

American Century Companies Inc. acquired a new position in shares of Arm Holdings plc (NASDAQ:ARM) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 35,966 shares of the company’s stock, valued at approximately $5,885,000.

Several other large investors also recently added to or reduced their stakes in the stock. Lazard Asset Management LLC grew its stake in shares of ARM by 393.0% during the first quarter. Lazard Asset Management LLC now owns 25,236 shares of the company’s stock valued at $3,154,000 after buying an additional 20,117 shares during the last quarter. Mizuho Securities Co. Ltd. grew its stake in shares of ARM by 156.3% during the second quarter. Mizuho Securities Co. Ltd. now owns 18,400 shares of the company’s stock valued at $3,011,000 after buying an additional 11,220 shares during the last quarter. Rheos Capital Works Inc. grew its stake in shares of ARM by 48.1% during the first quarter. Rheos Capital Works Inc. now owns 256,900 shares of the company’s stock valued at $32,110,000 after buying an additional 83,400 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in shares of ARM during the first quarter valued at approximately $222,000. Finally, Prudential PLC grew its stake in shares of ARM by 38.1% during the second quarter. Prudential PLC now owns 108,653 shares of the company’s stock valued at $17,778,000 after buying an additional 29,992 shares during the last quarter. 7.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ARM. Hsbc Global Res raised ARM to a “moderate sell” rating in a research note on Monday, July 29th. Raymond James assumed coverage on ARM in a research note on Friday, September 13th. They issued an “outperform” rating and a $160.00 price objective on the stock. Needham & Company LLC reissued a “hold” rating on shares of ARM in a research note on Thursday, August 1st. Sanford C. Bernstein raised ARM from an “underperform” rating to a “market perform” rating and increased their price objective for the stock from $92.00 to $100.00 in a research note on Wednesday, August 7th. Finally, Bank of America increased their price objective on ARM from $150.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $125.96.

ARM Price Performance

NASDAQ ARM opened at $143.30 on Wednesday. The stock’s fifty day moving average price is $134.84 and its 200 day moving average price is $132.83. Arm Holdings plc has a 1 year low of $46.50 and a 1 year high of $188.75. The company has a market cap of $150.15 billion and a price-to-earnings ratio of 145.57.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05. The firm had revenue of $939.00 million for the quarter, compared to the consensus estimate of $905.53 million. ARM had a return on equity of 18.97% and a net margin of 12.12%. The firm’s revenue was up 39.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.24 EPS. Research analysts expect that Arm Holdings plc will post 0.82 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.