Banque Cantonale Vaudoise Purchases 1,847 Shares of ARM Holdings PLC Sponsored ADR $ARM

Banque Cantonale Vaudoise boosted its position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 24.9% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 9,254 shares of the company’s stock after purchasing an additional 1,847 shares during the period. Banque Cantonale Vaudoise’s holdings in ARM were worth $1,400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Amundi lifted its holdings in ARM by 24.8% during the first quarter. Amundi now owns 11,804 shares of the company’s stock valued at $1,153,000 after purchasing an additional 2,345 shares during the last quarter. Empowered Funds LLC increased 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 worth $522,000 after purchasing an additional 1,094 shares in the last quarter. Schnieders Capital Management LLC. raised its position 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 purchasing an additional 200 shares during the period. Bank of Nova Scotia purchased a new stake in shares of ARM during the 2nd quarter valued at approximately $556,000. Finally, State Street Corp lifted its stake in shares of ARM by 14.7% during the 2nd quarter. State Street Corp now owns 441,445 shares of the company’s stock valued at $71,399,000 after buying an additional 56,656 shares in the last quarter. 7.53% of the stock is currently owned by institutional investors.

ARM Stock Performance

Shares of ARM opened at $334.27 on Friday. ARM Holdings PLC Sponsored ADR has a fifty-two week low of $100.02 and a fifty-two week high of $452.70. The firm has a market cap 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 firm has a 50 day moving average price of $291.90 and a 200-day moving average price of $183.05.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, April 1st. The company reported $0.60 EPS 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 predict that ARM Holdings PLC Sponsored ADR will post 1.12 earnings per share for the current year.

Insider Activity

In other news, insider Richard Roy Grisenthwaite sold 24,339 shares of the business’s stock in a transaction dated 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 approximately $1,159,318.45. The trade was a 81.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 the stock in a transaction dated 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 sale, the chief accounting officer owned 12,135 shares of the company’s stock, valued at $4,765,414.50. This represents a 48.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 248,205 shares of company stock valued at $57,741,572.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group lifted their price objective on shares of ARM from $125.00 to $150.00 and gave the company a “sell” rating in a research note on Thursday, May 7th. Needham & Company LLC restated a “buy” rating and set a $400.00 target price on shares of ARM in a research report on Tuesday, June 16th. Guggenheim lifted their price target on ARM from $240.00 to $255.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. HSBC upgraded ARM from a “reduce” rating to a “buy” rating and boosted their price objective for the company from $90.00 to $205.00 in a research note on Friday, March 20th. Finally, UBS Group lifted their target price on ARM from $260.00 to $470.00 and gave the company a “buy” rating in a report on Wednesday. Nineteen research 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 MarketBeat.com, ARM currently has an average rating of “Moderate Buy” and a consensus price target of $279.83.

ARM Company 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.