Oak Grove Capital LLC trimmed its holdings in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM – Free Report) by 42.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,500 shares of the company’s stock after selling 4,700 shares during the period. Oak Grove Capital LLC’s holdings in ARM were worth $711,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in ARM. FWL Investment Management LLC bought a new stake in shares of ARM during the 2nd quarter worth $34,000. Mcguire Capital Advisors Inc. acquired a new stake in shares of ARM during the fourth quarter worth $30,000. Strategic Investment Solutions Inc. IL raised its position in shares of ARM by 238.1% during the third quarter. Strategic Investment Solutions Inc. IL now owns 284 shares of the company’s stock worth $40,000 after purchasing an additional 200 shares during the period. WFA of San Diego LLC purchased a new stake in shares of ARM during the second quarter valued at $49,000. Finally, Navalign LLC purchased a new stake in shares of ARM during the fourth quarter valued at $33,000. Institutional investors and hedge funds own 7.53% of the company’s stock.
Analyst Upgrades and Downgrades
ARM has been the topic of a number of analyst reports. Morgan Stanley reissued an “equal weight” rating and issued a $150.00 price target (up from $135.00) on shares of ARM in a research note on Tuesday, April 7th. Rosenblatt Securities upped their price objective on shares of ARM from $175.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Wells Fargo & Company raised their target price on shares of ARM from $255.00 to $410.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. New Street Research reissued a “neutral” rating on shares of ARM in a research report on Thursday. Finally, Mizuho boosted their price target on shares of ARM from $425.00 to $500.00 and gave the company an “outperform” rating in a report on Monday, June 8th. Nineteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $253.38.
Insider Activity at ARM
In other news, CFO Jason Child sold 31,920 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $226.54, for a total value of $7,231,156.80. Following the transaction, the chief financial officer owned 174,232 shares in the company, valued at $39,470,517.28. This represents a 15.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Laura Kathleen Bartels sold 11,306 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $392.70, for a total transaction of $4,439,866.20. Following the completion of the sale, the chief accounting officer directly owned 12,135 shares of the company’s stock, valued at $4,765,414.50. This trade represents a 48.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 301,338 shares of company stock worth $66,030,158.
ARM Trading Up 4.9%
Shares of ARM stock opened at $439.46 on Friday. ARM Holdings PLC Sponsored ADR has a 1-year low of $100.02 and a 1-year high of $452.70. The company has a market capitalization of $469.38 billion, a price-to-earnings ratio of 523.17, a P/E/G ratio of 15.21 and a beta of 3.78. The stock’s fifty day simple moving average is $265.35 and its 200-day simple moving average is $173.35.
ARM (NASDAQ:ARM – Get Free Report) last announced its quarterly earnings data on Wednesday, April 1st. The company reported $0.60 earnings per share (EPS) for the quarter. ARM had a return on equity of 12.43% and a net margin of 18.37%.The firm had revenue of $1.49 billion during the quarter. On average, sell-side analysts predict that ARM Holdings PLC Sponsored ADR will post 1.12 EPS for the current year.
ARM Profile
Arm Limited (NASDAQ: ARM) is a global semiconductor IP company best known for designing energy-efficient processor architectures and related technologies that underpin a wide range of computing devices. Founded in 1990 as a joint venture between Acorn Computers, Apple and VLSI Technology and headquartered in Cambridge, England, Arm develops the ARM instruction set architectures and core processor designs that chipmakers license and integrate into custom system-on-chip (SoC) products. The company operates a licensing and royalty business model rather than manufacturing chips itself.
Arm’s product portfolio includes CPU core families (such as Cortex and Neoverse lines), GPU and multimedia IP (Mali), neural processing units (Ethos) and a suite of system and physical IP blocks.
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