IKE Capital LLC increased its holdings in shares of Arm Holdings PLC Sponsored ADR (NASDAQ:ARM – Free Report) by 88.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,331 shares of the company’s stock after purchasing an additional 2,506 shares during the quarter. IKE Capital LLC’s holdings in ARM were worth $1,890,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently modified their holdings of ARM. Hyperion Asset Management Ltd raised its position in ARM by 28.0% in the 4th quarter. Hyperion Asset Management Ltd now owns 1,836,185 shares of the company’s stock worth $200,713,000 after buying an additional 401,594 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of ARM by 5.1% during the 4th quarter. Capital Research Global Investors now owns 1,805,110 shares of the company’s stock valued at $197,332,000 after acquiring an additional 86,978 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of ARM by 0.7% during the 4th quarter. Franklin Resources Inc. now owns 1,461,410 shares of the company’s stock valued at $159,747,000 after acquiring an additional 10,385 shares during the last quarter. Employees Provident Fund Board bought a new stake in shares of ARM in the fourth quarter worth approximately $120,241,000. Finally, SG Americas Securities LLC grew its stake in shares of ARM by 265.6% in the first quarter. SG Americas Securities LLC now owns 971,067 shares of the company’s stock worth $146,903,000 after acquiring an additional 705,459 shares during the period. 7.53% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other news, CFO Jason Child sold 10,400 shares of the company’s stock in a transaction 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. This represents a 5.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
ARM Price Performance
ARM (NASDAQ:ARM – Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.05. ARM had a net margin of 20.25% and a return on equity of 12.24%. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the business posted $0.35 earnings per share. The firm’s quarterly revenue was up 22.4% compared to the same quarter last year. Analysts expect that Arm Holdings PLC Sponsored ADR will post 1.15 earnings per share for the current year.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on ARM shares. KeyCorp boosted their price objective on shares of ARM from $300.00 to $430.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Barclays raised 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. Jefferies Financial Group reaffirmed a “buy” rating and issued a $320.00 target price on shares of ARM in a research report on Monday, July 20th. Bank of America reiterated a “neutral” rating on shares of ARM in a research note on Thursday, July 30th. Finally, Piper Sandler started coverage on ARM in a report on Wednesday, September 9th. They set an “overweight” rating and a $320.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $305.72.
Check Out Our Latest Report on ARM
About ARM
Arm Holdings plc is a semiconductor and software intellectual property company headquartered in Cambridge, England. Rather than manufacturing chips, Arm develops processor architectures and technology designs that it licenses to semiconductor companies, device manufacturers and other technology businesses for use in their own products.
Arm’s portfolio includes central processing unit (CPU) architectures and processor cores, graphics processing units (GPUs), systems IP, interconnect technology, security solutions and related software and development tools.
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