National Bank of Canada FI Has $3.09 Million Position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM)

National Bank of Canada FI increased its position in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 6.7% during the 1st quarter, HoldingsChannel reports. The fund owned 28,886 shares of the company’s stock after purchasing an additional 1,806 shares during the quarter. National Bank of Canada FI’s holdings in ARM were worth $3,085,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in ARM. Goldman Sachs Group Inc. lifted its stake in shares of ARM by 59.3% during the first quarter. Goldman Sachs Group Inc. now owns 6,574,854 shares of the company’s stock valued at $702,129,000 after acquiring an additional 2,446,224 shares during the period. Sustainable Growth Advisers LP acquired a new position in shares of ARM during the first quarter valued at $170,287,000. Marshall Wace LLP bought a new stake in ARM in the fourth quarter valued at about $51,901,000. Banque Transatlantique SA bought a new stake in ARM in the fourth quarter valued at about $37,440,000. Finally, Raymond James Financial Inc. bought a new stake in ARM in the fourth quarter valued at about $32,655,000. Institutional investors and hedge funds own 7.53% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on ARM shares. BNP Paribas Exane upgraded ARM from a “neutral” rating to an “outperform” rating and set a $210.00 price objective for the company in a report on Wednesday, July 16th. Raymond James Financial upped their price objective on ARM from $140.00 to $165.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Citigroup dropped their price objective on ARM from $200.00 to $170.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Mizuho upped their price objective on ARM from $160.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, July 3rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ARM in a report on Thursday, July 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $169.67.

ARM Stock Down 0.7%

ARM stock opened at $140.55 on Friday. The business has a 50 day moving average price of $148.81 and a two-hundred day moving average price of $133.46. The company has a market cap of $148.49 billion, a price-to-earnings ratio of 212.95, a P/E/G ratio of 9.46 and a beta of 4.17. ARM Holdings PLC Sponsored ADR has a twelve month low of $80.00 and a twelve month high of $182.88.

ARM (NASDAQ:ARM) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. ARM had a return on equity of 15.56% and a net margin of 16.96%. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the company earned $0.40 earnings per share. The business’s revenue was up 12.1% compared to the same quarter last year. On average, equities research analysts anticipate that ARM Holdings PLC Sponsored ADR will post 0.9 EPS for the current fiscal year.

About ARM

Arm Holdings Plc engages in the licensing, marketing, research, and development of microprocessors, systems IP, graphics processing units, physical IP and associated systems IP, software, and tools. It operates through the following geographical segments: United Kingdom, United States, and Other Countries.