Global X Japan Co. Ltd. Raises Stock Holdings in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM)

Global X Japan Co. Ltd. raised its stake in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 4.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 10,867 shares of the company’s stock after acquiring an additional 480 shares during the period. Global X Japan Co. Ltd.’s holdings in ARM were worth $1,160,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ARM. Prosperity Wealth Management Inc. lifted its position in ARM by 3.5% during the first quarter. Prosperity Wealth Management Inc. now owns 5,264 shares of the company’s stock valued at $562,000 after purchasing an additional 179 shares during the period. Robertson Stephens Wealth Management LLC bought a new stake in ARM in the 1st quarter worth approximately $368,000. Chicago Capital LLC raised its stake in ARM by 27.2% during the 1st quarter. Chicago Capital LLC now owns 15,653 shares of the company’s stock valued at $1,672,000 after buying an additional 3,349 shares during the last quarter. QRG Capital Management Inc. lifted its holdings in shares of ARM by 125.1% during the 1st quarter. QRG Capital Management Inc. now owns 8,989 shares of the company’s stock valued at $960,000 after buying an additional 4,995 shares during the period. Finally, Sowell Financial Services LLC purchased a new position in shares of ARM in the 1st quarter worth $229,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on ARM shares. Needham & Company LLC restated a “hold” rating on shares of ARM in a research report on Thursday, May 8th. JPMorgan Chase & Co. dropped their price target on shares of ARM from $175.00 to $150.00 and set an “overweight” rating for the company in a research report on Thursday, May 8th. Barclays reduced their price objective on shares of ARM from $125.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday, May 8th. Rosenblatt Securities lowered their target price on shares of ARM from $203.00 to $180.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Finally, Citigroup dropped their target price on shares of ARM from $200.00 to $170.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $152.76.

ARM Stock Up 0.9%

ARM stock opened at $146.05 on Thursday. ARM Holdings PLC Sponsored ADR has a 52 week low of $80.00 and a 52 week high of $188.75. The firm has a market capitalization of $154.70 billion, a P/E ratio of 194.73, a price-to-earnings-growth ratio of 6.65 and a beta of 4.08. The company has a fifty day simple moving average of $122.96 and a two-hundred day simple moving average of $130.86.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.03. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.23 billion. ARM had a return on equity of 17.97% and a net margin of 19.76%. The firm’s revenue for the quarter was up 33.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.36 earnings per share. As a group, analysts anticipate that ARM Holdings PLC Sponsored ADR will post 0.9 EPS for the current 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.