GQG Partners LLC recently announced the acquisition of new stake in Arm Holdings plc. ADR (NASDAQ:ARM). This fresh investment now brings its stake to 1.60% valued currently at $1.01 billion. In addition, Jennison Associates LLC raised its holdings by 6.35 million to 6.35 million shares.
With over 4.02 million Arm Holdings plc. ADR (ARM) shares trading Tuesday and a closing price of $73.41 on the day, the dollar volume was approximately $295.3 million. Currently, there are 1.03B common shares owned by the public and among those 1.02B shares have been available to trade.
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The top 3 mutual fund holders in Arm Holdings plc. ADR are Robeco Capital Gr. Fds. – RobecoS, Fidelity Contrafund, and BlackRock Global Funds – World Te. Robeco Capital Gr. Fds. – RobecoS owns 1.46 million shares of the company’s stock, all valued at over $89.79 million. The company bought an additional 0.91 million shares recently to bring their total holdings to about 0.14% of the shares outstanding. Fidelity Contrafund bought 0.21 million shares to see its total holdings expand to 1.19 million shares valued at over $73.04 million and representing 0.12% of the shares outstanding. BlackRock Global Funds – World Te now owns shares totaling to 0.10% of the shares outstanding.
Shares of Arm Holdings plc. ADR (NASDAQ: ARM) opened at $73.27, up $0.98 from a prior closing price of $72.29. However, the script later moved the day high at 74.00, up 1.55%. The company’s stock has a 5-day price change of 6.59% and 37.16% over the past three months. It has a 12-month low price of $46.50 and touched a high of $73.44 over the same period. ARM has an average intraday trading volume of 6.03 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 11.74%, 26.43%, and 28.77% respectively.
Institutional ownership of Arm Holdings plc. ADR (NASDAQ: ARM) shares accounts for 7.05% of the company’s 1.03B shares outstanding. Mutual fund holders own 2.17%, while other institutional holders and individual stakeholders account for 4.88% and — respectively.
It has a market capitalization of $75.26B. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.79% over the week and 4.70% over the month.
The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 32 brokerage firm advisors rate Arm Holdings plc. ADR (ARM) as a “Strong Buy” at a consensus score of 1.94. Specifically, 18 Wall Street analysts polled rate the stock as a buy, while 11 of the 32 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the ARM, a number of firms have released research notes about the stock. Rosenblatt stated their Buy rating for the stock in a research note on December 26, 2023, with the firm’s price target at $85-$110.
