Russell Investments Group Ltd. Purchases 154,460 Shares of Arm Holdings plc (NASDAQ:ARM)

Russell Investments Group Ltd. grew its position in Arm Holdings plc (NASDAQ:ARM) by 42.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 519,619 shares of the company’s stock after buying an additional 154,460 shares during the period. Russell Investments Group Ltd. owned 0.05% of ARM worth $39,047,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ARM. Hsbc Holdings PLC bought a new position in ARM during the 3rd quarter worth approximately $219,000. Robeco Schweiz AG acquired a new stake in ARM during the 3rd quarter worth $35,591,000. American Century Companies Inc. bought a new position in ARM during the third quarter worth about $54,800,000. Citigroup Inc. acquired a new position in ARM in the third quarter valued at about $344,000. Finally, UG Investment Advisers Ltd. bought a new stake in shares of ARM in the third quarter worth about $3,568,000. Institutional investors own 7.53% of the company’s stock.

ARM Stock Performance

ARM stock opened at 103.24 on Tuesday. The company’s 50-day moving average is 124.56 and its 200-day moving average is 88.73. 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 posted its quarterly earnings results on Wednesday, February 7th. The company reported 0.29 EPS for the quarter, topping analysts’ consensus estimates of 0.25 by 0.04. The business had revenue of 824.00 million for the quarter, compared to the consensus estimate of 762.50 million. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. As a group, research analysts predict that Arm Holdings plc will post 0.36 EPS for the current fiscal year.

Analysts Set New Price Targets

ARM has been the topic of several recent analyst reports. Evercore ISI began coverage on ARM in a report on Tuesday, April 16th. They set an “outperform” rating and a $156.00 price objective on the stock. JPMorgan Chase & Co. upped their price target on shares of ARM from $70.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Rosenblatt Securities increased their price objective on shares of ARM from $140.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Daiwa Capital Markets cut shares of ARM from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $63.00 to $130.00 in a research report on Friday, February 16th. Finally, Mizuho increased their target price on ARM from $100.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, ARM has a consensus rating of “Hold” and an average price target of 92.08.

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.