1,725 Shares in ARM Holdings PLC Sponsored ADR $ARM Purchased by Wealth Effects LLC

Wealth Effects LLC acquired a new stake in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) during the first quarter, HoldingsChannel.com reports. The institutional investor acquired 1,725 shares of the company’s stock, valued at approximately $261,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Mcguire Capital Advisors Inc. acquired a new position in ARM during the fourth quarter worth about $30,000. Navalign LLC acquired a new stake in shares of ARM in the fourth quarter valued at approximately $33,000. FWL Investment Management LLC purchased a new position in shares of ARM during the 2nd quarter worth approximately $34,000. Motiv8 Investments LLC purchased a new position in shares of ARM during the 4th quarter worth approximately $38,000. Finally, Strategic Investment Solutions Inc. IL increased its stake in shares of ARM by 238.1% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 284 shares of the company’s stock worth $40,000 after purchasing an additional 200 shares in the last quarter. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

ARM Stock Performance

Shares of ARM opened at $334.27 on Friday. The company has a market capitalization of $357.03 billion, a price-to-earnings ratio of 397.94, a PEG ratio of 12.63 and a beta of 3.78. The company’s 50 day simple moving average is $291.90 and its 200 day simple moving average is $183.05. ARM Holdings PLC Sponsored ADR has a 1 year low of $100.02 and a 1 year high of $452.70.

ARM (NASDAQ:ARM) last announced its earnings results on Wednesday, April 1st. The company reported $0.60 earnings per share (EPS) for the quarter. The firm 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%. Equities analysts expect that ARM Holdings PLC Sponsored ADR will post 1.12 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on ARM. Sanford C. Bernstein set a $500.00 target price on ARM in a research note on Wednesday, June 17th. Jefferies Financial Group set a $290.00 price target on ARM in a research report on Thursday, May 21st. Guggenheim boosted their price target on ARM from $240.00 to $255.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Wells Fargo & Company upped their price objective on ARM from $255.00 to $410.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price objective on shares of ARM in a research note on Tuesday, June 16th. Nineteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, ARM presently has an average rating of “Moderate Buy” and an average target price of $279.83.

Insider Activity at ARM

In other news, insider Richard Roy Grisenthwaite sold 24,339 shares of ARM stock in a transaction on Monday, May 18th. The stock was sold at an average price of $209.15, for a total value of $5,090,501.85. Following the completion of the sale, the insider owned 5,543 shares of the company’s stock, valued at $1,159,318.45. The trade was a 81.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Spencer Collins sold 51,961 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $211.73, for a total value of $11,001,702.53. Following the completion of the transaction, the insider owned 51,125 shares of the company’s stock, valued at $10,824,696.25. The trade was a 50.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 248,205 shares of company stock worth $57,741,572.

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.