Commonwealth Equity Services LLC Reduces Holdings in ARM Holdings PLC Sponsored ADR $ARM

Commonwealth Equity Services LLC trimmed its holdings in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 35.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,786 shares of the company’s stock after selling 14,408 shares during the period. Commonwealth Equity Services LLC’s holdings in ARM were worth $2,928,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Compound Planning Inc. increased its stake in shares of ARM by 4.6% during the 3rd quarter. Compound Planning Inc. now owns 1,569 shares of the company’s stock worth $222,000 after purchasing an additional 69 shares in the last quarter. Rathbones Group PLC increased its stake in shares of ARM by 0.7% during the 3rd quarter. Rathbones Group PLC now owns 10,552 shares of the company’s stock worth $1,493,000 after purchasing an additional 70 shares in the last quarter. Kovack Advisors Inc. increased its stake in shares of ARM by 2.0% during the 3rd quarter. Kovack Advisors Inc. now owns 3,602 shares of the company’s stock worth $510,000 after purchasing an additional 72 shares in the last quarter. Murphy & Mullick Capital Management Corp increased its stake in shares of ARM by 9.1% during the 3rd quarter. Murphy & Mullick Capital Management Corp now owns 926 shares of the company’s stock worth $135,000 after purchasing an additional 77 shares in the last quarter. Finally, Balboa Wealth Partners increased its stake in shares of ARM by 2.7% during the 3rd quarter. Balboa Wealth Partners now owns 3,108 shares of the company’s stock worth $440,000 after purchasing an additional 83 shares in the last quarter. 7.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ARM. Wells Fargo & Company raised their target price on shares of ARM from $255.00 to $410.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Guggenheim raised their target price on shares of ARM from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Royal Bank Of Canada raised their target price 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. Weiss Ratings restated a “hold (c)” rating on shares of ARM in a research report on Monday, April 20th. Finally, HSBC upgraded shares of ARM from a “reduce” rating to a “buy” rating and raised their target price for the stock from $90.00 to $205.00 in a research report on Friday, March 20th. Twenty equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $230.04.

Insider Buying and Selling

In other ARM news, insider Richard Roy Grisenthwaite sold 24,339 shares of ARM stock in a transaction on Monday, May 18th. The shares were sold at an average price of $209.15, for a total value of $5,090,501.85. Following the transaction, the insider owned 5,543 shares in the company, valued at $1,159,318.45. This trade represents a 81.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Laura Kathleen Bartels sold 11,306 shares of ARM stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $392.70, for a total transaction of $4,439,866.20. Following the completion of 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 301,338 shares of company stock worth $66,030,158 over the last 90 days.

ARM Stock Down 6.2%

Shares of ARM opened at $324.86 on Wednesday. The firm has a market cap of $346.98 billion, a PE ratio of 386.74, a price-to-earnings-growth ratio of 12.58 and a beta of 3.78. The company’s fifty day moving average is $232.08 and its two-hundred day moving average is $160.91. ARM Holdings PLC Sponsored ADR has a fifty-two week low of $100.02 and a fifty-two week high of $427.99.

ARM (NASDAQ:ARM) last announced its quarterly earnings results on Wednesday, April 1st. The company reported $0.60 earnings per share for the quarter. The company had revenue of $1.49 billion for the quarter. ARM had a net margin of 18.37% and a return on equity of 12.43%. As a group, equities research analysts anticipate that ARM Holdings PLC Sponsored ADR will post 1.12 earnings per share for the current year.

ARM 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.