Arm Holdings plc (NASDAQ:ARM) Shares Bought by Meiji Yasuda Life Insurance Co

Meiji Yasuda Life Insurance Co lifted its stake in shares of Arm Holdings plc (NASDAQ:ARM) by 32.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,585 shares of the company’s stock after purchasing an additional 2,085 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in ARM were worth $1,405,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of ARM. Private Advisor Group LLC purchased a new position in ARM in the 4th quarter valued at $226,000. Janney Montgomery Scott LLC lifted its stake in shares of ARM by 179.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 35,468 shares of the company’s stock worth $2,665,000 after buying an additional 22,763 shares in the last quarter. Beacon Pointe Advisors LLC acquired a new position in ARM during the fourth quarter worth about $205,000. Cambridge Investment Research Advisors Inc. grew its stake in ARM by 42.0% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 22,210 shares of the company’s stock valued at $1,669,000 after acquiring an additional 6,571 shares in the last quarter. Finally, DSM Capital Partners LLC acquired a new stake in ARM in the 4th quarter valued at about $50,000. Institutional investors and hedge funds own 7.53% of the company’s stock.

ARM Stock Up 1.1 %

Shares of ARM stock opened at $138.36 on Thursday. Arm Holdings plc has a 52-week low of $46.50 and a 52-week high of $188.75. The company has a market capitalization of $144.98 billion and a P/E ratio of 148.06. The company has a 50 day moving average of $137.06 and a 200 day moving average of $132.80.

ARM (NASDAQ:ARM) last issued its earnings results on Wednesday, July 31st. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. ARM had a net margin of 12.12% and a return on equity of 18.97%. The firm had revenue of $939.00 million during the quarter, compared to the consensus estimate of $905.53 million. During the same quarter in the previous year, the firm posted $0.24 earnings per share. The company’s revenue was up 39.1% compared to the same quarter last year. As a group, research analysts anticipate that Arm Holdings plc will post 0.82 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Benchmark started coverage on ARM in a report on Monday. They set a “hold” rating on the stock. Guggenheim upped their target price on ARM from $110.00 to $169.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Barclays lifted their price target on ARM from $105.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Loop Capital upped their price objective on shares of ARM from $120.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Finally, Hsbc Global Res raised shares of ARM to a “moderate sell” rating in a research note on Monday, July 29th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, ARM has a consensus rating of “Moderate Buy” and an average price target of $123.04.

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.