OVERSEA CHINESE BANKING Corp Ltd Purchases 5,000 Shares of ARM Holdings PLC Sponsored ADR $ARM

OVERSEA CHINESE BANKING Corp Ltd grew its holdings in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 111.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 9,495 shares of the company’s stock after buying an additional 5,000 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in ARM were worth $1,535,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Swedbank AB bought a new stake in ARM during the first quarter worth about $18,667,000. Integrated Wealth Concepts LLC lifted its holdings in shares of ARM by 24.0% during the first quarter. Integrated Wealth Concepts LLC now owns 10,465 shares of the company’s stock valued at $1,118,000 after purchasing an additional 2,025 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of ARM by 12.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 107,728 shares of the company’s stock worth $11,505,000 after purchasing an additional 11,953 shares in the last quarter. Global X Japan Co. Ltd. grew its stake in shares of ARM by 638.4% in the 2nd quarter. Global X Japan Co. Ltd. now owns 80,239 shares of the company’s stock worth $12,978,000 after buying an additional 69,372 shares during the last quarter. Finally, Hoey Investments Inc. increased its position in ARM by 159.3% during the 2nd quarter. Hoey Investments Inc. now owns 15,206 shares of the company’s stock valued at $2,459,000 after buying an additional 9,341 shares in the last quarter. 7.53% of the stock is owned by hedge funds and other institutional investors.

ARM Trading Up 4.7%

NASDAQ:ARM opened at $178.62 on Tuesday. The company has a market cap of $188.71 billion, a PE ratio of 270.64, a price-to-earnings-growth ratio of 10.72 and a beta of 4.10. The company has a 50 day simple moving average of $150.52 and a two-hundred day simple moving average of $140.80. ARM Holdings PLC Sponsored ADR has a 12 month low of $80.00 and a 12 month high of $183.16.

ARM (NASDAQ:ARM) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. ARM had a return on equity of 15.56% and a net margin of 16.96%.The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the business posted $0.40 EPS. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. Research analysts forecast that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Mizuho boosted their target price on ARM from $160.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, July 3rd. Wells Fargo & Company upped their price target on shares of ARM from $175.00 to $190.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. KeyCorp restated an “overweight” rating and set a $190.00 price objective (up from $175.00) on shares of ARM in a research note on Thursday, July 31st. Evercore ISI lifted their target price on shares of ARM from $173.00 to $178.00 and gave the stock an “outperform” rating in a report on Thursday, September 11th. Finally, BNP Paribas upgraded shares of ARM from a “neutral” rating to an “outperform” rating and increased their price target for the company from $110.00 to $210.00 in a report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, ARM has an average rating of “Moderate Buy” and an average price target of $169.33.

ARM Company Profile

Arm Holdings Plc engages in the licensing, marketing, research, and development of microprocessors, systems IP, graphics processing units, physical IP and associated systems IP, software, and tools. It operates through the following geographical segments: United Kingdom, United States, and Other Countries.