ARM Holdings PLC Sponsored ADR $ARM Shares Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd cut its stake in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 35.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,459 shares of the company’s stock after selling 6,230 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in ARM were worth $1,853,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sowell Financial Services LLC purchased a new position in shares of ARM in the first quarter valued at approximately $229,000. Swedbank AB purchased a new position in shares of ARM in the first quarter valued at approximately $18,667,000. Integrated Wealth Concepts LLC boosted its stake in shares of ARM by 24.0% in the first quarter. Integrated Wealth Concepts LLC now owns 10,465 shares of the company’s stock valued at $1,118,000 after purchasing an additional 2,025 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of ARM by 12.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 107,728 shares of the company’s stock valued at $11,505,000 after purchasing an additional 11,953 shares during the period. Finally, SCS Capital Management LLC purchased a new position in shares of ARM in the first quarter valued at approximately $579,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

ARM Stock Performance

Shares of ARM opened at $142.91 on Monday. The stock has a market capitalization of $150.99 billion, a P/E ratio of 216.53, a P/E/G ratio of 9.55 and a beta of 4.17. The company’s fifty day moving average is $145.30 and its two-hundred day moving average is $131.95. ARM Holdings PLC Sponsored ADR has a 1 year low of $80.00 and a 1 year high of $182.88.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.06 billion. ARM had a net margin of 16.96% and a return on equity of 15.56%. ARM’s revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.40 EPS. Sell-side analysts predict that ARM Holdings PLC Sponsored ADR will post 0.9 EPS for the current year.

Analysts Set New Price Targets

ARM has been the subject of several recent research reports. KeyCorp reissued an “overweight” rating and issued a $190.00 price objective (up previously from $175.00) on shares of ARM in a research note on Thursday, July 31st. Seaport Res Ptn upgraded shares of ARM to a “strong-buy” rating in a research note on Monday, August 11th. Rosenblatt Securities reiterated a “buy” rating and issued a $180.00 price target on shares of ARM in a research note on Thursday, July 31st. Guggenheim lifted their price target on shares of ARM from $147.00 to $187.00 and gave the stock a “buy” rating in a research note on Monday, June 30th. Finally, Raymond James Financial lifted their price target on shares of ARM from $140.00 to $165.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, ARM has an average rating of “Moderate Buy” and an average price target of $168.52.

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.