Sumitomo Mitsui Trust Group Inc. Has $4.50 Million Stock Position in Arm Holdings plc (NASDAQ:ARM)

Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Arm Holdings plc (NASDAQ:ARM - Free Report) by 46.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 31,487 shares of the company's stock after acquiring an additional 10,047 shares during the quarter. Sumitomo Mitsui Trust Group Inc.'s holdings in ARM were worth $4,503,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ARM. International Assets Investment Management LLC grew its position in shares of ARM by 14,351.1% in the third quarter. International Assets Investment Management LLC now owns 812,297 shares of the company's stock valued at $1,161,670,000 after purchasing an additional 806,676 shares during the period. Sei Investments Co. lifted its stake in ARM by 551.6% in the second quarter. Sei Investments Co. now owns 579,330 shares of the company's stock worth $94,790,000 after acquiring an additional 490,415 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in ARM by 186.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company's stock worth $52,279,000 after purchasing an additional 233,909 shares during the last quarter. Marsico Capital Management LLC purchased a new position in shares of ARM during the second quarter worth approximately $33,207,000. Finally, ProShare Advisors LLC acquired a new stake in ARM during the 2nd quarter worth approximately $16,611,000. 7.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on ARM. JPMorgan Chase & Co. lifted their price target on ARM from $140.00 to $160.00 and gave the stock an "overweight" rating in a research note on Thursday, November 7th. Benchmark started coverage on shares of ARM in a report on Monday, September 16th. They issued a "hold" rating on the stock. The Goldman Sachs Group upped their price target on shares of ARM from $144.00 to $159.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Daiwa America raised ARM from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on ARM from $82.00 to $105.00 and gave the stock a "hold" rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, ARM has an average rating of "Moderate Buy" and a consensus target price of $147.95.

ARM Stock Up 3.4 %

NASDAQ:ARM traded up $4.40 on Tuesday, reaching $133.06. 4,001,265 shares of the company's stock were exchanged, compared to its average volume of 10,751,480. The firm has a market capitalization of $139.42 billion, a price-to-earnings ratio of 218.45, a price-to-earnings-growth ratio of 6.43 and a beta of 5.40. The business has a fifty day moving average of $143.67 and a 200-day moving average of $140.07. Arm Holdings plc has a 52-week low of $55.27 and a 52-week high of $188.75.

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

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.