Itau Unibanco Holding S.A. Buys Shares of 25,000 Arm Holdings plc (NASDAQ:ARM)

Itau Unibanco Holding S.A. acquired a new position in Arm Holdings plc (NASDAQ:ARM - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 25,000 shares of the company's stock, valued at approximately $4,090,000.

Other institutional investors have also recently bought and sold shares of the company. Mark Sheptoff Financial Planning LLC bought a new stake in shares of ARM during the 1st quarter valued at $25,000. Transcendent Capital Group LLC acquired a new position in shares of ARM in the 2nd quarter valued at $33,000. RiverPark Advisors LLC grew its holdings in shares of ARM by 45.3% in the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company's stock valued at $40,000 after buying an additional 77 shares during the period. Mather Group LLC. acquired a new position in shares of ARM in the 2nd quarter valued at $41,000. Finally, SOA Wealth Advisors LLC. acquired a new position in shares of ARM in the 1st quarter valued at $35,000. Institutional investors own 7.53% of the company's stock.

ARM Trading Down 1.2 %

Shares of NASDAQ:ARM traded down $1.69 on Friday, reaching $138.90. 7,362,039 shares of the company's stock were exchanged, compared to its average volume of 11,929,345. The company has a fifty day moving average of $135.56 and a 200-day moving average of $132.82. Arm Holdings plc has a twelve month low of $46.50 and a twelve month high of $188.75. The company has a market capitalization of $145.54 billion and a price-to-earnings ratio of 145.57.

ARM (NASDAQ:ARM - Get Free Report) last announced its earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.05. ARM had a net margin of 12.12% and a return on equity of 18.97%. The firm had revenue of $939.00 million for the quarter, compared to analyst estimates of $905.53 million. During the same quarter in the prior year, the business posted $0.24 EPS. The business's revenue was up 39.1% compared to the same quarter last year. As a group, equities research analysts forecast that Arm Holdings plc will post 0.82 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ARM shares. Guggenheim boosted their price target on shares of ARM from $110.00 to $169.00 and gave the company a "buy" rating in a report on Tuesday, June 25th. Daiwa Capital Markets raised shares of ARM from a "neutral" rating to an "outperform" rating and set a $130.00 target price for the company in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft upped their target price on shares of ARM from $82.00 to $105.00 and gave the stock a "hold" rating in a research note on Thursday, August 1st. HSBC lowered shares of ARM from a "hold" rating to a "reduce" rating in a research note on Monday, July 29th. Finally, Barclays upped their target price on shares of ARM from $105.00 to $125.00 and gave the stock an "overweight" rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $125.96.

About ARM

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.