3,500 Shares in ARM Holdings PLC Sponsored ADR $ARM Purchased by Monetta Financial Services Inc.

Monetta Financial Services Inc. purchased a new stake in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARMFree Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 3,500 shares of the company’s stock, valued at approximately $1,241,000.

Several other large investors also recently bought and sold shares of the business. GAMMA Investing LLC increased its position in shares of ARM by 18.7% during the 2nd quarter. GAMMA Investing LLC now owns 406 shares of the company’s stock valued at $144,000 after purchasing an additional 64 shares during the last quarter. CreativeOne Wealth LLC raised its holdings 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 during the period. AdvisorNet Financial Inc lifted its holdings in ARM by 6.2% in the 1st quarter. AdvisorNet Financial Inc now owns 1,681 shares of the company’s stock worth $254,000 after purchasing an additional 98 shares in the last quarter. Moors & Cabot Inc. lifted its holdings in shares of ARM by 5.3% in the third quarter. Moors & Cabot Inc. now owns 2,050 shares of the company’s stock worth $290,000 after buying an additional 103 shares in the last quarter. Finally, Heritage Trust Co lifted its stake in ARM by 5.5% in the 4th quarter. Heritage Trust Co now owns 2,045 shares of the company’s stock worth $224,000 after purchasing an additional 107 shares in the last quarter. 7.53% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Laura Kathleen Bartels sold 11,306 shares of the firm’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 value of $4,439,866.20. Following the transaction, the chief accounting officer owned 12,135 shares in the company, valued at approximately $4,765,414.50. This trade represents a 48.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider William Abbey sold 6,566 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $402.72, for a total value of $2,644,259.52. Following the transaction, the insider directly owned 20,563 shares in the company, valued at $8,281,131.36. This trade represents a 24.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 24,372 shares of company stock valued at $9,231,514 over the last 90 days.

ARM Price Performance

Shares of NASDAQ:ARM opened at $249.34 on Thursday. ARM Holdings PLC Sponsored ADR has a 1 year low of $100.02 and a 1 year high of $452.70. The firm’s 50-day moving average is $307.58 and its two-hundred day moving average is $228.20. The firm has a market capitalization of $266.32 billion, a PE ratio of 257.05, a price-to-earnings-growth ratio of 7.51 and a beta of 3.90.

ARM (NASDAQ:ARMGet Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.05. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.26 billion. ARM had a net margin of 20.25% and a return on equity of 12.24%. The company’s revenue was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.35 EPS. Analysts expect that ARM Holdings PLC Sponsored ADR will post 1.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ARM has been the subject of several analyst reports. Bank of America reaffirmed a “neutral” rating on shares of ARM in a research note on Thursday, July 30th. Raymond James Financial restated an “outperform” rating on shares of ARM in a research note on Thursday, May 7th. Wells Fargo & Company cut their price target on ARM from $350.00 to $280.00 and set an “overweight” rating on the stock in a research note on Thursday, July 30th. TD Cowen cut their price objective on shares of ARM from $475.00 to $350.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Finally, Barclays boosted their target price on shares of ARM from $250.00 to $360.00 and gave the stock an “overweight” rating in a 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 given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $285.33.

Read Our Latest Report on ARM

ARM Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for ARM (NASDAQ:ARM)

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