Meiji Yasuda Asset Management Co Ltd. Acquires 1,149 Shares of Arm Holdings plc (NASDAQ:ARM)

Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Arm Holdings plc (NASDAQ:ARM) by 6.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,272 shares of the company’s stock after buying an additional 1,149 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in ARM were worth $3,153,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. RiverPark Advisors LLC raised its position in ARM by 45.3% during the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after acquiring an additional 77 shares in the last quarter. BOKF NA increased its stake in shares of ARM by 33.3% during the 1st quarter. BOKF NA now owns 400 shares of the company’s stock worth $51,000 after purchasing an additional 100 shares during the last quarter. Comerica Bank raised its holdings in shares of ARM by 6.1% in the 1st quarter. Comerica Bank now owns 1,780 shares of the company’s stock valued at $222,000 after purchasing an additional 103 shares during the period. Naples Money Management LLC lifted its stake in ARM by 47.8% in the 1st quarter. Naples Money Management LLC now owns 340 shares of the company’s stock valued at $42,000 after purchasing an additional 110 shares during the last quarter. Finally, Schwarz Dygos Wheeler Investment Advisors LLC grew its holdings in ARM by 2.9% during the first quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 5,159 shares of the company’s stock worth $645,000 after purchasing an additional 145 shares during the period. Institutional investors own 7.53% of the company’s stock.

Wall Street Analyst Weigh In

ARM has been the subject of a number of recent analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $180.00 price objective on shares of ARM in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of ARM from $82.00 to $105.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Guggenheim raised their target price on shares of ARM from $110.00 to $169.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. TD Cowen upgraded shares of ARM to a “strong-buy” rating in a research note on Monday. Finally, The Goldman Sachs Group increased their price target on shares of ARM from $110.00 to $143.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.04.

ARM Trading Up 1.1 %

Shares of ARM stock opened at $138.36 on Thursday. The company has a market cap of $144.98 billion and a PE 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 Holdings plc has a 1-year low of $46.50 and a 1-year high of $188.75.

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

About ARM

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.