Pacer Advisors Inc. boosted its position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM – Free Report) by 19.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 139,386 shares of the company’s stock after purchasing an additional 22,765 shares during the period. Pacer Advisors Inc.’s holdings in ARM were worth $21,086,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in ARM. Syntax Research Inc. acquired a new position in ARM during the 1st quarter worth approximately $30,000. Evelyn Partners Investment Management Services Ltd purchased a new stake in shares of ARM in the first quarter valued at approximately $30,000. Mcguire Capital Advisors Inc. purchased a new stake in shares of ARM in the fourth quarter valued at approximately $30,000. Navalign LLC acquired a new position in ARM during the fourth quarter worth $33,000. Finally, FWL Investment Management LLC acquired a new position in ARM during the second quarter worth $34,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.
ARM Stock Performance
ARM stock opened at $239.06 on Tuesday. The firm has a market capitalization of $255.34 billion, a price-to-earnings ratio of 246.46, a price-to-earnings-growth ratio of 7.12 and a beta of 3.91. ARM Holdings PLC Sponsored ADR has a fifty-two week low of $100.02 and a fifty-two week high of $452.70. The stock’s fifty day moving average is $327.29 and its two-hundred day moving average is $214.54.
Analysts Set New Price Targets
Several research firms have issued reports on ARM. Raymond James Financial reiterated an “outperform” rating on shares of ARM in a research report on Thursday, May 7th. Rosenblatt Securities lowered their price target on shares of ARM from $270.00 to $250.00 and set a “buy” rating on the stock in a research note on Friday. Morgan Stanley increased their price target on shares of ARM from $202.00 to $212.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Benchmark began coverage on shares of ARM in a research note on Thursday, July 16th. They issued a “hold” rating for the company. Finally, Barclays upped their target price on shares of ARM from $250.00 to $360.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Eighteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, ARM has a consensus rating of “Moderate Buy” and a consensus price target of $285.33.
Read Our Latest Stock Report on ARM
Insider Buying and Selling
In other news, CAO Laura Kathleen Bartels sold 11,306 shares of ARM stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $392.70, for a total value of $4,439,866.20. Following the completion of the sale, the chief accounting officer owned 12,135 shares of the company’s stock, valued at $4,765,414.50. The trade was a 48.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charlotte Claire Eaton sold 7,805 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $290.01, for a total value of $2,263,528.05. Following the completion of the transaction, the insider owned 5,000 shares of the company’s stock, valued at $1,450,050. The trade was a 60.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 216,049 shares of company stock worth $52,101,605.
ARM Company 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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