NEOS Investment Management LLC boosted its holdings in Arm Holdings PLC Sponsored ADR (NASDAQ:ARM – Free Report) by 21.6% in the second quarter, HoldingsChannel reports. The institutional investor owned 87,397 shares of the company’s stock after purchasing an additional 15,554 shares during the quarter. NEOS Investment Management LLC’s holdings in ARM were worth $30,988,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in shares of ARM by 18.7% during the second quarter. GAMMA Investing LLC now owns 406 shares of the company’s stock valued at $144,000 after buying an additional 64 shares during the last quarter. CreativeOne Wealth LLC grew its stake in ARM by 5.0% during the fourth quarter. CreativeOne Wealth LLC now owns 1,830 shares of the company’s stock valued at $200,000 after acquiring an additional 87 shares in the last quarter. AdvisorNet Financial Inc increased its holdings in shares of ARM by 6.2% in the first quarter. AdvisorNet Financial Inc now owns 1,681 shares of the company’s stock worth $254,000 after purchasing an additional 98 shares during the last quarter. Moors & Cabot Inc. raised its holdings in shares of ARM by 5.3% during the 3rd quarter. Moors & Cabot Inc. now owns 2,050 shares of the company’s stock worth $290,000 after acquiring an additional 103 shares in the last quarter. Finally, Heritage Trust Co raised its stake in ARM by 5.5% during the fourth quarter. Heritage Trust Co now owns 2,045 shares of the company’s stock valued at $224,000 after purchasing an additional 107 shares in the last quarter. Institutional investors own 7.53% of the company’s stock.
Analyst Ratings Changes
ARM has been the topic of a number of analyst reports. Rosenblatt Securities cut their price objective on shares of ARM from $270.00 to $250.00 and set a “buy” rating on the stock in a research report on Friday, July 31st. Benchmark initiated coverage on shares of ARM in a research note on Thursday, July 16th. They issued a “hold” rating for the company. New Street Research raised ARM from a “neutral” rating to a “buy” rating and set a $260.00 target price on the stock in a research report on Thursday, July 30th. TD Cowen reduced their target price on shares of ARM from $475.00 to $350.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Finally, Susquehanna increased their price target on shares of ARM from $300.00 to $320.00 and gave the company a “positive” rating in a research report on Tuesday, July 21st. Eighteen 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 an average target price of $305.12.
Insiders Place Their Bets
In other news, CFO Jason Child sold 10,400 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $255.33, for a total value of $2,655,432.00. Following the completion of the sale, the chief financial officer directly owned 163,832 shares in the company, valued at $41,831,224.56. The trade was a 5.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
ARM Trading Up 3.9%
NASDAQ:ARM opened at $252.09 on Friday. The company has a market capitalization of $269.25 billion, a P/E ratio of 259.89, a PEG ratio of 7.19 and a beta of 3.89. Arm Holdings PLC Sponsored ADR has a 12 month low of $100.02 and a 12 month high of $452.70. The firm has a fifty day simple moving average of $273.23 and a 200-day simple moving average of $238.12.
ARM (NASDAQ:ARM – Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.05. The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.26 billion. ARM had a return on equity of 12.24% and a net margin of 20.25%.The company’s revenue was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 earnings per share. Equities analysts forecast that Arm Holdings PLC Sponsored ADR will post 1.15 EPS for the current year.
ARM Company Profile
Arm Holdings (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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