Mizuho Securities Co. Ltd. Makes New $2.99 Million Investment in Arm Holdings plc (NASDAQ:ARM)

Mizuho Securities Co. Ltd. purchased a new position in Arm Holdings plc (NASDAQ:ARM) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 39,810 shares of the company’s stock, valued at approximately $2,992,000. ARM accounts for about 10.7% of Mizuho Securities Co. Ltd.’s investment portfolio, making the stock its 3rd largest position.

A number of other large investors have also bought and sold shares of ARM. Hoey Investments Inc. bought a new stake in shares of ARM in the 3rd quarter worth approximately $27,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of ARM by 49.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,555 shares of the company’s stock worth $117,000 after buying an additional 514 shares during the last quarter. Centerpoint Advisors LLC bought a new stake in shares of ARM in the 3rd quarter worth approximately $32,000. Ancora Advisors LLC bought a new stake in shares of ARM in the 3rd quarter worth approximately $32,000. Finally, Bamco Inc. NY bought a new stake in shares of ARM during the third quarter valued at approximately $37,000. 7.53% of the stock is owned by hedge funds and other institutional investors.

ARM Stock Up 3.1 %

ARM stock traded up 2.93 during trading on Tuesday, reaching 96.04. The stock had a trading volume of 11,212,300 shares, compared to its average volume of 14,874,217. Arm Holdings plc has a 52 week low of 46.50 and a 52 week high of 164.00. The stock’s 50 day moving average is 126.84 and its two-hundred day moving average is 87.41.

ARM (NASDAQ:ARM) last posted its earnings results on Wednesday, February 7th. The company reported 0.29 earnings per share for the quarter, beating analysts’ consensus estimates of 0.25 by 0.04. The firm had revenue of 824.00 million during the quarter, compared to the consensus estimate of 762.50 million. ARM’s revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, analysts forecast that Arm Holdings plc will post 0.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ARM. Rosenblatt Securities lifted their price target on ARM from $140.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, February 26th. The Goldman Sachs Group lifted their price target on ARM from $95.00 to $108.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Barclays lifted their price target on ARM from $65.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. Daiwa Capital Markets downgraded ARM from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $63.00 to $130.00 in a report on Friday, February 16th. Finally, KeyCorp boosted their target price on ARM from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of 90.28.

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.