Mirae Asset Global Investments Co. Ltd. Acquires New Holdings in Arm Holdings PLC Sponsored ADR $ARM

Mirae Asset Global Investments Co. Ltd. bought a new stake in Arm Holdings PLC Sponsored ADR (NASDAQ:ARM – Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 621,412 shares of the company’s stock, valued at approximately $179,998,000.

Other large investors also recently added to or reduced their stakes in the company. Focus Financial Network Inc. increased its stake in shares of ARM by 0.9% during the 3rd quarter. Focus Financial Network Inc. now owns 4,686 shares of the company’s stock worth $1,357,000 after purchasing an additional 40 shares during the last quarter. GAMMA Investing LLC boosted its holdings in ARM by 18.7% in the second quarter. GAMMA Investing LLC now owns 406 shares of the company’s stock worth $144,000 after purchasing an additional 64 shares in the last quarter. Allworth Financial LP boosted its holdings in ARM by 2.9% in the second quarter. Allworth Financial LP now owns 2,269 shares of the company’s stock worth $804,000 after purchasing an additional 65 shares in the last quarter. MCF Advisors LLC boosted its holdings in ARM by 11.7% in the second quarter. MCF Advisors LLC now owns 764 shares of the company’s stock worth $271,000 after purchasing an additional 80 shares in the last quarter. Finally, SteelPeak Wealth LLC increased its position in ARM by 11.0% during the third quarter. SteelPeak Wealth LLC now owns 931 shares of the company’s stock worth $270,000 after buying an additional 92 shares during the last quarter. 7.53% of the stock is owned by institutional investors.

Insider Transactions at ARM

In related news, CFO Jason Child sold 10,400 shares of the stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $300.00, for a total value of $3,120,000.00. Following the completion of the transaction, the chief financial officer owned 153,442 shares of the company’s stock, valued at $46,032,600. This represents a 6.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analyst Weigh In

ARM has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of ARM in a research note on Thursday, October 15th. Rosenblatt Securities decreased their target price on ARM from $270.00 to $250.00 and set a “buy” rating for the company in a research report on Friday, July 31st. Royal Bank Of Canada lowered their price target on ARM from $475.00 to $340.00 and set an “outperform” rating on the stock in a report on Thursday, July 30th. Raymond James Financial reissued an “outperform” rating and issued a $166.00 price target on shares of ARM in a research report on Tuesday, August 25th. Finally, HSBC cut shares of ARM from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $255.00 to $315.00 in a research note on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, ARM has an average rating of “Moderate Buy” and a consensus price target of $303.32.

Check Out Our Latest Report on ARM

ARM Trading Down 10.0%

Shares of ARM stock opened at $205.97 on Friday. The firm’s fifty day simple moving average is $258.73 and its 200 day simple moving average is $227.92. The firm has a market capitalization of $219.99 billion, a P/E ratio of 212.34, a price-to-earnings-growth ratio of 6.11 and a beta of 3.78. Arm Holdings PLC Sponsored ADR has a 1 year low of $100.02 and a 1 year high of $452.70.

ARM (NASDAQ:ARM – Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.05. ARM had a net margin of 20.25% and a return on equity of 12.24%. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the company earned $0.35 earnings per share. The firm’s revenue was up 22.4% on a year-over-year basis. Equities research analysts anticipate that Arm Holdings PLC Sponsored ADR will post 1.15 EPS for the current fiscal year.

ARM Company Profile

(Free Report)

Arm Holdings plc (NASDAQ: ARM) is a semiconductor and software design company that develops central processing unit (CPU) architectures and related intellectual property. Rather than manufacturing chips itself, Arm licenses its designs and instruction-set architectures to semiconductor companies and technology manufacturers, which incorporate them into their own products.

The company’s offerings include CPU processor cores, graphics processing units through its Mali product family, system IP, development tools and software.

See Also

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Institutional Ownership by Quarter for ARM (NASDAQ:ARM)

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