Mirae Asset Global Investments Co. Ltd. Has $2.05 Million Stock Holdings in Arm Holdings plc (NASDAQ:ARM)

Mirae Asset Global Investments Co. Ltd. boosted its stake in Arm Holdings plc (NASDAQ:ARM) by 119.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,263 shares of the company’s stock after purchasing an additional 14,821 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in ARM were worth $2,049,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Jennison Associates LLC acquired a new position in shares of ARM during the third quarter valued at about $339,965,000. FMR LLC acquired a new position in shares of ARM during the third quarter valued at about $242,812,000. Wellington Management Group LLP acquired a new position in shares of ARM during the third quarter valued at about $152,896,000. Invesco Ltd. acquired a new position in shares of ARM during the third quarter valued at about $143,092,000. Finally, Intel Corp acquired a new position in shares of ARM during the third quarter valued at about $62,965,000. 7.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ARM. Evercore ISI began coverage on shares of ARM in a report on Tuesday. They set an “outperform” rating and a $156.00 price objective for the company. Rosenblatt Securities raised their price target on shares of ARM from $140.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Barclays raised 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. JPMorgan Chase & Co. raised their price target on shares of ARM from $70.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. Finally, Daiwa Capital Markets lowered shares of ARM from a “buy” rating to a “neutral” rating and raised their price target for the company from $63.00 to $130.00 in a research report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of 90.28.

ARM Trading Down 16.9 %

ARM opened at 87.19 on Friday. The firm has a 50-day moving average price of 128.44 and a 200-day moving average price of 86.35. Arm Holdings plc has a twelve month low of 46.50 and a twelve month high of 164.00.

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