Arm Holdings plc (NASDAQ:ARM) Shares Purchased by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Arm Holdings plc (NASDAQ:ARM) by 27.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 37,469 shares of the company’s stock after acquiring an additional 8,052 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in ARM were worth $2,816,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Hoey Investments Inc. acquired a new stake in ARM during the 3rd quarter worth $27,000. Centerpoint Advisors LLC acquired a new stake in ARM during the 3rd quarter worth $32,000. Ancora Advisors LLC acquired a new stake in ARM during the 3rd quarter worth $32,000. Bamco Inc. NY acquired a new stake in ARM during the 3rd quarter worth $37,000. Finally, Westside Investment Management Inc. acquired a new stake in ARM during the 3rd quarter worth $43,000. Institutional investors and hedge funds own 7.53% of the company’s stock.

ARM Stock Performance

ARM stock opened at 99.88 on Thursday. The company’s 50 day moving average price is 126.31 and its 200 day moving average price is 87.50. Arm Holdings plc has a fifty-two week low of 46.50 and a fifty-two week high of 164.00.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, February 7th. The company reported 0.29 earnings per share for the quarter, topping analysts’ consensus estimates of 0.25 by 0.04. The firm had revenue of 824.00 million for the quarter, compared to analysts’ expectations of 762.50 million. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. Equities analysts anticipate that Arm Holdings plc will post 0.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on ARM. The Goldman Sachs Group lifted their target price on shares of ARM from $95.00 to $108.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Susquehanna reissued a “neutral” rating and set a $85.00 price target on shares of ARM in a research report on Thursday, April 4th. Barclays boosted their price target on shares of ARM from $65.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. Evercore ISI assumed coverage on shares of ARM in a research report on Tuesday, April 16th. They set an “outperform” rating and a $156.00 price target on the stock. Finally, TD Cowen boosted their price target on shares of ARM from $80.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of 90.28.

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.