Nomura Asset Management Co. Ltd. Buys 7,328 Shares of Arm Holdings plc (NASDAQ:ARM)

Nomura Asset Management Co. Ltd. grew its holdings in shares of Arm Holdings plc (NASDAQ:ARM - Free Report) by 113.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,762 shares of the company's stock after purchasing an additional 7,328 shares during the period. Nomura Asset Management Co. Ltd.'s holdings in ARM were worth $1,968,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in ARM. International Assets Investment Management LLC lifted its position in ARM by 14,351.1% during the third 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 period. Sei Investments Co. raised its position in shares of ARM by 551.6% in the 2nd quarter. Sei Investments Co. now owns 579,330 shares of the company's stock valued at $94,790,000 after buying an additional 490,415 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of ARM by 186.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company's stock worth $52,279,000 after acquiring an additional 233,909 shares during the period. Marsico Capital Management LLC acquired a new stake in shares of ARM during the 2nd quarter worth approximately $33,207,000. Finally, ProShare Advisors LLC bought a new position in ARM in the second quarter valued at approximately $16,611,000. 7.53% of the stock is owned by institutional investors.

ARM Stock Performance

Shares of NASDAQ ARM traded up $3.91 during trading on Friday, hitting $151.91. 8,140,439 shares of the company traded hands, compared to its average volume of 10,298,124. The business's fifty day moving average is $142.98 and its 200 day moving average is $143.61. The firm has a market capitalization of $159.18 billion, a price-to-earnings ratio of 253.18, a P/E/G ratio of 7.15 and a beta of 4.67. Arm Holdings plc has a fifty-two week low of $65.11 and a fifty-two week high of $188.75.

ARM (NASDAQ:ARM - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.04. The business had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. The company's quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.36 earnings per share. On average, analysts predict that Arm Holdings plc will post 0.79 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ARM shares. Raymond James assumed coverage on ARM in a research report on Friday, September 13th. They issued an "outperform" rating and a $160.00 target price on the stock. Loop Capital boosted their target price on shares of ARM from $130.00 to $180.00 and gave the stock a "buy" rating in a research note on Monday, November 11th. JPMorgan Chase & Co. increased their price target on ARM from $140.00 to $160.00 and gave the company an "overweight" rating in a research note on Thursday, November 7th. Sanford C. Bernstein lowered ARM from a "market perform" rating to an "underperform" rating and set a $100.00 price objective on the stock. in a research report on Thursday, October 31st. Finally, Benchmark initiated coverage on shares of ARM in a report on Monday, September 16th. They set a "hold" rating on the stock. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $150.32.

ARM 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.