OVERSEA CHINESE BANKING Corp Ltd Purchases 5,000 Shares of ARM Holdings PLC Sponsored ADR $ARM

OVERSEA CHINESE BANKING Corp Ltd grew its position in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 111.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,495 shares of the company’s stock after purchasing an additional 5,000 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in ARM were worth $1,535,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of ARM. Goldman Sachs Group Inc. raised its holdings in shares of ARM by 59.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,574,854 shares of the company’s stock valued at $702,129,000 after buying an additional 2,446,224 shares in the last quarter. Sustainable Growth Advisers LP bought a new position in ARM during the first quarter valued at approximately $170,287,000. Robeco Institutional Asset Management B.V. raised its stake in shares of ARM by 3,853.4% during the second quarter. Robeco Institutional Asset Management B.V. now owns 520,465 shares of the company’s stock worth $84,180,000 after acquiring an additional 507,300 shares in the last quarter. American Century Companies Inc. raised its stake in shares of ARM by 112.3% during the first quarter. American Century Companies Inc. now owns 703,365 shares of the company’s stock worth $75,112,000 after acquiring an additional 372,081 shares in the last quarter. Finally, Jefferies Financial Group Inc. bought a new stake in shares of ARM in the 1st quarter worth approximately $19,565,000. 7.53% of the stock is currently owned by institutional investors.

ARM Stock Up 4.7%

Shares of ARM stock opened at $178.62 on Tuesday. The firm has a market capitalization of $188.71 billion, a price-to-earnings ratio of 270.64, a PEG ratio of 10.72 and a beta of 4.10. The stock has a fifty day moving average of $150.52 and a 200 day moving average of $140.80. ARM Holdings PLC Sponsored ADR has a 52 week low of $80.00 and a 52 week high of $183.16.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ARM shares. Mizuho lifted their target price on shares of ARM from $160.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, July 3rd. Wells Fargo & Company lifted their price objective on ARM from $175.00 to $190.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. KeyCorp restated an “overweight” rating and set a $190.00 target price (up from $175.00) on shares of ARM in a report on Thursday, July 31st. The Goldman Sachs Group initiated coverage on ARM in a research report on Thursday, July 10th. They set a “neutral” rating and a $160.00 price target on the stock. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of ARM in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $169.33.

ARM Profile

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.