Sumitomo Mitsui DS Asset Management Company Ltd Purchases 1,667 Shares of Arm Holdings plc (NASDAQ:ARM)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Arm Holdings plc (NASDAQ:ARM) by 12.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,552 shares of the company’s stock after buying an additional 1,667 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in ARM were worth $2,081,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Harbour Capital Advisors LLC raised its position in ARM by 6.0% during the 3rd quarter. Harbour Capital Advisors LLC now owns 7,570 shares of the company’s stock valued at $1,124,000 after purchasing an additional 430 shares during the last quarter. Global Retirement Partners LLC increased its stake in shares of ARM by 72.5% during the third quarter. Global Retirement Partners LLC now owns 3,478 shares of the company’s stock valued at $497,000 after buying an additional 1,462 shares during the period. Good Life Advisors LLC raised its holdings in shares of ARM by 34.1% during the third quarter. Good Life Advisors LLC now owns 4,090 shares of the company’s stock valued at $585,000 after acquiring an additional 1,039 shares in the last quarter. Cornerstone Wealth Management LLC lifted its stake in ARM by 8.5% in the third quarter. Cornerstone Wealth Management LLC now owns 4,299 shares of the company’s stock worth $615,000 after acquiring an additional 335 shares during the period. Finally, Paragon Capital Management Inc. bought a new stake in ARM in the third quarter valued at $1,724,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

ARM Price Performance

ARM stock opened at $152.35 on Tuesday. Arm Holdings plc has a 1-year low of $46.50 and a 1-year high of $188.75. The stock has a market capitalization of $159.64 billion and a P/E ratio of 390.65. The business has a fifty day moving average price of $137.81 and a 200-day moving average price of $135.42.

ARM (NASDAQ:ARM) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $905.53 million. During the same quarter last year, the firm posted $0.24 EPS. The business’s quarterly revenue was up 39.1% compared to the same quarter last year. As a group, analysts anticipate that Arm Holdings plc will post 0.86 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have commented on ARM. Hsbc Global Res upgraded shares of ARM to a “moderate sell” rating in a report on Monday, July 29th. Barclays increased their price target on shares of ARM from $105.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. TD Cowen raised ARM to a “strong-buy” rating in a research report on Monday, September 16th. Daiwa America raised ARM from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, Morgan Stanley upgraded ARM from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $107.00 to $190.00 in a research report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.57.

ARM Company 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.