Bank Julius Baer & Co. Ltd Zurich Lowers Stock Holdings in Arm Holdings plc (NASDAQ:ARM)

Bank Julius Baer & Co. Ltd Zurich lessened its holdings in Arm Holdings plc (NASDAQ:ARM) by 61.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,900 shares of the company’s stock after selling 14,400 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in ARM were worth $669,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the company. Pittenger & Anderson Inc. boosted its stake in shares of ARM by 2,500.0% during the 4th quarter. Pittenger & Anderson Inc. now owns 2,080 shares of the company’s stock worth $156,000 after acquiring an additional 2,000 shares in the last quarter. Atria Wealth Solutions Inc. purchased a new stake in shares of ARM during the 4th quarter worth approximately $665,000. Bfsg LLC purchased a new stake in shares of ARM during the 4th quarter worth approximately $53,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of ARM during the 4th quarter worth approximately $2,992,000. Finally, Jennison Associates LLC raised its position in shares of ARM by 15.7% during the 4th quarter. Jennison Associates LLC now owns 7,346,660 shares of the company’s stock worth $552,065,000 after purchasing an additional 994,551 shares during the last quarter. Hedge funds and other institutional investors own 7.53% of the company’s stock.

ARM Price Performance

Shares of NASDAQ ARM opened at 101.95 on Friday. Arm Holdings plc has a 52-week low of 46.50 and a 52-week high of 164.00. The firm has a fifty day moving average of 125.07 and a 200-day moving average of 88.13.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, February 7th. The company reported 0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of 0.25 by 0.04. The company had revenue of 824.00 million for the quarter, compared to analysts’ expectations of 762.50 million. ARM’s revenue was up 13.8% on a year-over-year basis. As a group, analysts anticipate that Arm Holdings plc will post 0.36 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on ARM. Susquehanna restated a “neutral” rating and set a $85.00 price objective on shares of ARM in a research report on Thursday, April 4th. JPMorgan Chase & Co. lifted their price objective on ARM from $70.00 to $100.00 and gave the stock 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 lifted their price objective for the stock from $63.00 to $130.00 in a research report on Friday, February 16th. BNP Paribas downgraded ARM from an “outperform” rating to a “neutral” rating and set a $100.00 price objective for the company. in a research report on Friday, April 19th. Finally, TD Cowen lifted their price objective on ARM from $80.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, ARM has a consensus 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.