Arm Holdings plc (NASDAQ:ARM) Shares Bought by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. lifted its position in shares of Arm Holdings plc (NASDAQ:ARM) by 123.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,587 shares of the company’s stock after buying an additional 876 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in ARM were worth $227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in ARM. International Assets Investment Management LLC increased its position in shares of ARM by 14,351.1% during the 3rd quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock worth $1,161,670,000 after purchasing an additional 806,676 shares during the last quarter. Sei Investments Co. boosted its stake in ARM by 551.6% during the second 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 position in shares of ARM by 186.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock valued at $52,279,000 after acquiring an additional 233,909 shares during the last quarter. Marsico Capital Management LLC purchased a new stake in shares of ARM in the 2nd quarter valued at approximately $33,207,000. Finally, Zevenbergen Capital Investments LLC acquired a new position in shares of ARM in the 1st quarter worth approximately $23,704,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

ARM Price Performance

Shares of ARM opened at $154.40 on Thursday. Arm Holdings plc has a 1-year low of $47.12 and a 1-year high of $188.75. The stock has a market cap of $161.79 billion and a PE ratio of 395.90. The firm has a fifty day moving average price of $140.56 and a 200 day moving average price of $136.41.

ARM (NASDAQ:ARM) last posted its earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.05. The business had revenue of $939.00 million during the quarter, compared to the consensus estimate of $905.53 million. ARM had a return on equity of 18.97% and a net margin of 12.12%. The business’s quarterly revenue was up 39.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.24 EPS. As a group, equities analysts expect that Arm Holdings plc will post 0.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Sanford C. Bernstein upgraded shares of ARM from an “underperform” rating to a “market perform” rating and lifted their target price for the company from $92.00 to $100.00 in a report on Wednesday, August 7th. Citigroup lifted their price objective on ARM from $150.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Morgan Stanley raised 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. HSBC downgraded ARM from a “hold” rating to a “reduce” rating in a research report on Monday, July 29th. Finally, Raymond James started coverage on shares of ARM in a research report on Friday, September 13th. They set an “outperform” rating and a $160.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.