Erste Asset Management GmbH Invests $11.65 Million in Arm Holdings plc (NASDAQ:ARM)

Erste Asset Management GmbH acquired a new stake in shares of Arm Holdings plc (NASDAQ:ARM) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 80,000 shares of the company’s stock, valued at approximately $11,646,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. International Assets Investment Management LLC lifted its holdings in ARM by 14,351.1% during the third quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock valued at $1,161,670,000 after purchasing an additional 806,676 shares in the last quarter. Sei Investments Co. boosted its holdings in ARM by 551.6% in the 2nd quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock worth $94,790,000 after buying an additional 490,415 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in ARM by 186.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock worth $52,279,000 after buying an additional 233,909 shares in the last quarter. Mark Asset Management LP raised its holdings in ARM by 14.2% during the second quarter. Mark Asset Management LP now owns 238,589 shares of the company’s stock valued at $39,038,000 after acquiring an additional 29,686 shares during the period. Finally, Marsico Capital Management LLC purchased a new position in shares of ARM in the second quarter valued at about $33,207,000. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. UBS Group assumed coverage on ARM in a research report on Monday, November 25th. They set a “buy” rating and a $160.00 target price for the company. Wells Fargo & Company initiated coverage on shares of ARM in a research report on Friday, November 22nd. They set an “overweight” rating and a $155.00 price objective on the stock. Sanford C. Bernstein lowered shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 target price for the company. in a research report on Thursday, October 31st. Daiwa Capital Markets upgraded shares of ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price target on the stock in a report on Thursday, August 8th. Finally, Evercore ISI boosted their price target on shares of ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, ARM has an average rating of “Moderate Buy” and an average price target of $150.32.

ARM Price Performance

Shares of NASDAQ ARM opened at $134.29 on Monday. The company has a market cap of $140.71 billion, a P/E ratio of 223.82, a PEG ratio of 6.71 and a beta of 5.40. The firm has a 50-day simple moving average of $142.98 and a two-hundred day simple moving average of $141.70. Arm Holdings plc has a 1 year low of $60.37 and a 1 year high of $188.75.

ARM (NASDAQ:ARM) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. ARM had a return on equity of 13.69% and a net margin of 18.13%. The company had revenue of $844.00 million during the quarter, compared to analysts’ expectations of $810.03 million. During the same quarter in the previous year, the business earned $0.36 EPS. ARM’s revenue was up 4.7% compared to the same quarter last year. As a group, equities research analysts expect that Arm Holdings plc will post 0.79 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.