Itau Unibanco Holding S.A. Makes New Investment in Arm Holdings plc (NASDAQ:ARM)

Itau Unibanco Holding S.A. purchased a new position in Arm Holdings plc (NASDAQ:ARM) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 25,000 shares of the company’s stock, valued at approximately $4,090,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ARM. Holderness Investments Co. bought a new position in shares of ARM during the 2nd quarter valued at approximately $270,000. ProShare Advisors LLC purchased a new stake in ARM during the 2nd quarter valued at $16,611,000. Profund Advisors LLC purchased a new stake in ARM during the 2nd quarter valued at $1,395,000. Ensign Peak Advisors Inc purchased a new stake in ARM during the 2nd quarter valued at $4,729,000. Finally, Sei Investments Co. raised its holdings in ARM by 551.6% during the 2nd quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock valued at $94,790,000 after buying an additional 490,415 shares during the period. 7.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ARM shares. Guggenheim increased their price target on ARM from $110.00 to $169.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Daiwa America upgraded ARM from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 8th. Raymond James started coverage on ARM in a report on Friday, September 13th. They set an “outperform” rating and a $160.00 price target on the stock. HSBC lowered ARM from a “hold” rating to a “reduce” rating in a research note on Monday, July 29th. Finally, Morgan Stanley upgraded ARM from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $107.00 to $190.00 in a research note on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $125.96.

ARM Price Performance

ARM opened at $138.90 on Friday. The business’s 50-day moving average is $135.56 and its two-hundred day moving average is $132.85. Arm Holdings plc has a 1 year low of $46.50 and a 1 year high of $188.75. The firm has a market capitalization of $145.54 billion and a PE ratio of 145.57.

ARM (NASDAQ:ARM) last posted 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. ARM had a return on equity of 18.97% and a net margin of 12.12%. The company had revenue of $939.00 million for the quarter, compared to analyst estimates of $905.53 million. During the same quarter in the previous year, the firm earned $0.24 earnings per share. The firm’s quarterly revenue was up 39.1% compared to the same quarter last year. As a group, sell-side analysts expect that Arm Holdings plc will post 0.82 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.