Hyperion Asset Management Ltd lessened its position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM – Free Report) by 66.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 531,331 shares of the company’s stock after selling 1,067,206 shares during the quarter. ARM comprises 5.0% of Hyperion Asset Management Ltd’s holdings, making the stock its 10th largest position. Hyperion Asset Management Ltd’s holdings in ARM were worth $188,394,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in ARM. Morgan Stanley raised its stake in ARM by 1.2% in the 4th quarter. Morgan Stanley now owns 3,783,006 shares of the company’s stock valued at $413,521,000 after purchasing an additional 45,314 shares during the last quarter. Invesco Ltd. grew its holdings in shares of ARM by 36.9% during the fourth quarter. Invesco Ltd. now owns 2,426,850 shares of the company’s stock worth $265,279,000 after buying an additional 654,727 shares in the last quarter. Coatue Management LLC raised its position in shares of ARM by 1.8% in the fourth quarter. Coatue Management LLC now owns 2,300,000 shares of the company’s stock valued at $251,413,000 after buying an additional 40,174 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of ARM by 41.6% in the fourth quarter. Wellington Management Group LLP now owns 2,149,159 shares of the company’s stock worth $234,925,000 after buying an additional 631,576 shares in the last quarter. Finally, Schroder Investment Management Group boosted its position in ARM by 11.0% during the fourth quarter. Schroder Investment Management Group now owns 1,891,310 shares of the company’s stock worth $206,739,000 after acquiring an additional 187,035 shares during the last quarter. 7.53% of the stock is owned by institutional investors and hedge funds.
ARM Stock Up 0.4%
Shares of ARM stock opened at $268.93 on Wednesday. ARM Holdings PLC Sponsored ADR has a 52 week low of $100.02 and a 52 week high of $452.70. The business’s fifty day simple moving average is $318.03 and its 200-day simple moving average is $221.71. The firm has a market cap of $287.24 billion, a PE ratio of 277.25, a price-to-earnings-growth ratio of 7.94 and a beta of 3.90.
Insider Activity at ARM
In other ARM news, CFO Jason Child sold 31,920 shares of ARM stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $226.54, for a total transaction of $7,231,156.80. Following the completion of the sale, the chief financial officer directly owned 174,232 shares in the company, valued at $39,470,517.28. This trade represents a 15.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Laura Kathleen Bartels sold 11,306 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were 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 in the company, valued at $4,765,414.50. This trade represents a 48.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 164,088 shares of company stock valued at $41,099,903 over the last quarter.
Wall Street Analyst Weigh In
A number of analysts have commented on ARM shares. New Street Research upgraded shares of ARM from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a report on Thursday, July 30th. Needham & Company LLC restated a “buy” rating and set a $255.00 target price on shares of ARM in a report on Thursday, July 30th. Morgan Stanley increased their price target on ARM from $202.00 to $212.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Raymond James Financial reaffirmed an “outperform” rating on shares of ARM in a research note on Thursday, May 7th. Finally, Barclays lifted their price target on ARM from $250.00 to $360.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Eighteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $285.33.
Check Out Our Latest Analysis on ARM
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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