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

Meiji Yasuda Life Insurance Co boosted its stake in Arm Holdings plc (NASDAQ:ARM) by 32.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,585 shares of the company’s stock after acquiring 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 SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ARM. Purus Wealth Management LLC acquired a new stake in shares of ARM in the 2nd quarter worth $276,000. Andar Capital Management HK Ltd purchased a new stake in shares of ARM in the second quarter valued at approximately $2,062,000. L & S Advisors Inc acquired a new position in ARM during the second quarter worth $3,223,000. WealthPLAN Partners LLC raised its position in ARM by 63.5% in the second quarter. WealthPLAN Partners LLC now owns 3,210 shares of the company’s stock worth $525,000 after acquiring an additional 1,247 shares in the last quarter. Finally, STF Management LP purchased a new position in ARM in the second quarter worth $310,000. 7.53% of the stock is owned by hedge funds and other institutional investors.

ARM Price Performance

NASDAQ:ARM opened at $138.36 on Thursday. The firm has a 50-day moving average of $137.06 and a two-hundred day moving average of $132.80. The stock has a market cap of $144.98 billion and a P/E ratio of 148.06. Arm Holdings plc has a 1-year low of $46.50 and a 1-year high of $188.75.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $905.53 million. During the same quarter in the prior year, the business posted $0.24 earnings per share. ARM’s revenue for the quarter was up 39.1% on a year-over-year basis. As a group, equities analysts expect that Arm Holdings plc will post 0.82 earnings per share for the current year.

Analysts Set New Price Targets

ARM has been the topic of a number of recent analyst reports. Citigroup upped their price target on shares of ARM from $150.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Raymond James began coverage on ARM in a report on Friday, September 13th. They issued an “outperform” rating and a $160.00 target price on the stock. Morgan Stanley upgraded shares of ARM from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $107.00 to $190.00 in a report on Friday, July 19th. Daiwa America raised shares of ARM from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 8th. Finally, TD Cowen raised ARM to a “strong-buy” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, ARM presently has a consensus rating of “Moderate Buy” and an average price target of $123.04.

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.