ProShare Advisors LLC lifted its position in Arm Holdings PLC Sponsored ADR (NASDAQ:ARM – Free Report) by 2.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 421,817 shares of the company’s stock after purchasing an additional 9,242 shares during the quarter. ProShare Advisors LLC’s holdings in ARM were worth $122,184,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of the company. Focus Financial Network Inc. raised its holdings in ARM by 0.9% in the 3rd quarter. Focus Financial Network Inc. now owns 4,686 shares of the company’s stock worth $1,357,000 after purchasing an additional 40 shares during the period. GAMMA Investing LLC boosted its stake in ARM by 18.7% in the 2nd quarter. GAMMA Investing LLC now owns 406 shares of the company’s stock worth $144,000 after purchasing an additional 64 shares in the last quarter. Allworth Financial LP increased its stake in shares of ARM by 2.9% in the second quarter. Allworth Financial LP now owns 2,269 shares of the company’s stock worth $804,000 after acquiring an additional 65 shares during the period. MCF Advisors LLC raised its holdings in ARM by 11.7% in the 2nd quarter. MCF Advisors LLC now owns 764 shares of the company’s stock worth $271,000 after purchasing an additional 80 shares during the period. Finally, SteelPeak Wealth LLC lifted its holdings in ARM by 11.0% in the 3rd quarter. SteelPeak Wealth LLC now owns 931 shares of the company’s stock valued at $270,000 after purchasing an additional 92 shares in the last quarter. 7.53% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
ARM has been the subject of a number of research reports. Piper Sandler initiated coverage on ARM in a research note on Wednesday, September 9th. They issued an “overweight” rating and a $320.00 price objective for the company. KeyCorp lifted their target price on shares of ARM from $300.00 to $430.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $320.00 price objective on shares of ARM in a research note on Monday, July 20th. New Street Research raised shares of ARM from a “neutral” rating to a “buy” rating and set a $260.00 target price for the company in a research note on Thursday, July 30th. Finally, Susquehanna increased their target price on shares of ARM from $300.00 to $320.00 and gave the stock a “positive” rating in a research report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $303.32.
Read Our Latest Stock Analysis on ARM
ARM Price Performance
NASDAQ ARM opened at $205.97 on Friday. The firm has a market capitalization of $219.99 billion, a price-to-earnings ratio of 212.34, a price-to-earnings-growth ratio of 6.11 and a beta of 3.78. Arm Holdings PLC Sponsored ADR has a 52-week low of $100.02 and a 52-week high of $452.70. The company has a 50 day simple moving average of $258.73 and a 200-day simple moving average of $227.92.
ARM (NASDAQ:ARM – Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.05. ARM had a return on equity of 12.24% and a net margin of 20.25%. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the company earned $0.35 EPS. The company’s quarterly revenue was up 22.4% on a year-over-year basis. On average, analysts predict that Arm Holdings PLC Sponsored ADR will post 1.15 EPS for the current year.
Insider Activity at ARM
In related news, CFO Jason Child sold 10,400 shares of the stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $300.00, for a total transaction of $3,120,000.00. Following the completion of the sale, the chief financial officer directly owned 153,442 shares of the company’s stock, valued at approximately $46,032,600. This represents a 6.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
ARM Company Profile
Arm Holdings plc (NASDAQ: ARM) is a semiconductor and software design company that develops central processing unit (CPU) architectures and related intellectual property. Rather than manufacturing chips itself, Arm licenses its designs and instruction-set architectures to semiconductor companies and technology manufacturers, which incorporate them into their own products.
The company’s offerings include CPU processor cores, graphics processing units through its Mali product family, system IP, development tools and software.
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