ICICI Prudential Asset Management Co Ltd Increases Position in Arm Holdings plc (NASDAQ:ARM)

ICICI Prudential Asset Management Co Ltd lifted its position in shares of Arm Holdings plc (NASDAQ:ARM) by 25.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,633 shares of the company’s stock after purchasing an additional 335 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in ARM were worth $234,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of ARM. Mark Sheptoff Financial Planning LLC acquired a new position in shares of ARM during the 1st quarter worth about $25,000. ORG Partners LLC acquired a new position in ARM in the third quarter valued at approximately $29,000. Transcendent Capital Group LLC purchased a new position in ARM in the second quarter valued at approximately $33,000. Gilliland Jeter Wealth Management LLC raised its holdings in ARM by 83.0% during the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after purchasing an additional 117 shares in the last quarter. Finally, RiverPark Advisors LLC lifted its position in shares of ARM by 45.3% during the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after buying an additional 77 shares during the last quarter. Hedge funds and other institutional investors own 7.53% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on ARM shares. Deutsche Bank Aktiengesellschaft increased their target price on shares of ARM from $82.00 to $105.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Hsbc Global Res upgraded ARM to a “moderate sell” rating in a research report on Monday, July 29th. TD Cowen upped their target price on ARM from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Benchmark assumed coverage on ARM in a report on Monday, September 16th. They set a “hold” rating on the stock. Finally, The Goldman Sachs Group upped their price target on ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $147.95.

ARM Price Performance

ARM stock opened at $135.09 on Thursday. The company’s 50 day simple moving average is $142.83 and its 200-day simple moving average is $139.15. Arm Holdings plc has a 12 month low of $52.28 and a 12 month high of $188.75. The firm has a market capitalization of $141.55 billion, a PE ratio of 225.15, a P/E/G ratio of 6.39 and a beta of 5.40.

ARM (NASDAQ:ARM) last announced its earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. ARM had a return on equity of 13.69% and a net margin of 18.13%. The firm had revenue of $844.00 million for the quarter, compared to analysts’ expectations of $810.03 million. During the same quarter in the prior year, the firm earned $0.36 EPS. ARM’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Arm Holdings plc will post 0.86 earnings per share for the current year.

About ARM

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.