QRG Capital Management Inc. increased its position in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM – Free Report) by 37.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,261 shares of the company’s stock after acquiring an additional 1,974 shares during the quarter. QRG Capital Management Inc.’s holdings in ARM were worth $1,098,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the company. HB Wealth Management LLC acquired a new stake in ARM in the first quarter worth $215,000. Elevation Point Wealth Partners LLC increased its position in shares of ARM by 8.3% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 13,443 shares of the company’s stock valued at $2,034,000 after buying an additional 1,029 shares in the last quarter. Sound Income Strategies LLC raised its stake in ARM by 2,600.0% during the 1st quarter. Sound Income Strategies LLC now owns 459 shares of the company’s stock worth $71,000 after buying an additional 442 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. lifted its holdings in ARM by 96.0% during the first quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 45,270 shares of the company’s stock worth $6,848,000 after acquiring an additional 22,170 shares in the last quarter. Finally, Syntax Research Inc. acquired a new position in ARM in the first quarter valued at about $30,000. Institutional investors and hedge funds own 7.53% of the company’s stock.
ARM Stock Down 0.1%
ARM stock opened at $300.24 on Thursday. The business has a 50 day moving average price of $313.06 and a two-hundred day moving average price of $194.38. The company has a market cap of $320.68 billion, a price-to-earnings ratio of 357.43, a P/E/G ratio of 10.91 and a beta of 3.76. ARM Holdings PLC Sponsored ADR has a twelve month low of $100.02 and a twelve month high of $452.70.
Insider Activity
In related news, insider William Abbey sold 6,566 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $402.72, for a total value of $2,644,259.52. Following the completion of the sale, the insider directly owned 20,563 shares in the company, valued at approximately $8,281,131.36. This trade represents a 24.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Jason Child sold 31,920 shares of ARM 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 of the company’s stock, valued at $39,470,517.28. The trade was a 15.48% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 248,205 shares of company stock valued at $57,741,572.
Wall Street Analyst Weigh In
ARM has been the topic of a number of research analyst reports. UBS Group raised their price target on ARM from $260.00 to $470.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Barclays increased their target price on ARM from $250.00 to $360.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Jefferies Financial Group set a $290.00 price target on shares of ARM in a research note on Thursday, May 21st. Royal Bank Of Canada increased their price objective on shares of ARM from $175.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Finally, Bank of America raised their price objective on shares of ARM from $335.00 to $460.00 and gave the stock a “neutral” rating in a report on Tuesday, June 23rd. Nineteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, ARM has a consensus rating of “Moderate Buy” and an average price target of $279.83.
Get Our Latest Stock Analysis on ARM
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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