Royal Fund Management LLC Cuts Stake in ARM Holdings PLC Sponsored ADR $ARM

Royal Fund Management LLC cut its holdings in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 65.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,850 shares of the company’s stock after selling 28,448 shares during the quarter. Royal Fund Management LLC’s holdings in ARM were worth $1,623,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Amundi grew its stake in shares of ARM by 24.8% in the first quarter. Amundi now owns 11,804 shares of the company’s stock worth $1,153,000 after acquiring an additional 2,345 shares in the last quarter. Empowered Funds LLC raised its stake in shares of ARM by 28.8% in the first quarter. Empowered Funds LLC now owns 4,887 shares of the company’s stock valued at $522,000 after acquiring an additional 1,094 shares in the last quarter. Schnieders Capital Management LLC. raised its stake in shares of ARM by 9.0% in the second quarter. Schnieders Capital Management LLC. now owns 2,430 shares of the company’s stock valued at $393,000 after acquiring an additional 200 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in ARM by 11.4% in the second quarter. Advisors Asset Management Inc. now owns 5,037 shares of the company’s stock valued at $815,000 after purchasing an additional 516 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in ARM by 202.3% in the second quarter. Russell Investments Group Ltd. now owns 23,480 shares of the company’s stock valued at $3,798,000 after purchasing an additional 15,712 shares during the period. Hedge funds and other institutional investors own 7.53% of the company’s stock.

Insider Activity

In related news, CEO Rene A. Haas sold 7,986 shares of the company’s stock in a transaction that occurred on Thursday, March 26th. The stock was sold at an average price of $160.86, for a total value of $1,284,627.96. Following the completion of the transaction, the chief executive officer directly owned 282,979 shares of the company’s stock, valued at $45,520,001.94. This represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Jason Child sold 21,280 shares of the stock in a transaction that occurred on Wednesday, March 25th. The shares were sold at an average price of $148.37, for a total transaction of $3,157,313.60. Following the completion of the transaction, the chief financial officer owned 174,706 shares in the company, valued at $25,921,129.22. This represents a 10.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 53,133 shares of company stock worth $8,288,586 in the last three months.

ARM Price Performance

NASDAQ:ARM opened at $151.28 on Wednesday. ARM Holdings PLC Sponsored ADR has a 12 month low of $80.00 and a 12 month high of $183.16. The firm has a market capitalization of $159.83 billion, a PE ratio of 201.71, a price-to-earnings-growth ratio of 8.65 and a beta of 4.11. The business’s fifty day moving average price is $123.98 and its 200 day moving average price is $134.04.

ARM (NASDAQ:ARM) last announced its quarterly earnings results on Thursday, February 5th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.23 billion. ARM had a return on equity of 14.01% and a net margin of 17.15%.ARM’s revenue for the quarter was up 26.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.39 EPS. As a group, equities analysts anticipate that ARM Holdings PLC Sponsored ADR will post 0.9 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. KeyCorp restated an “overweight” rating on shares of ARM in a report on Thursday, February 5th. Jefferies Financial Group set a $170.00 price objective on ARM in a research note on Thursday, February 5th. Royal Bank Of Canada boosted their price objective on ARM from $130.00 to $175.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 25th. Raymond James Financial upgraded shares of ARM from a “market perform” rating to an “outperform” rating and set a $166.00 target price on the stock in a research note on Wednesday, March 25th. Finally, Citigroup cut shares of ARM from a “buy” rating to a “hold” rating in a report on Tuesday, January 13th. Nineteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $168.17.

About ARM

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.