Midwest Trust Co Acquires Shares of 29,541 ARM Holdings PLC Sponsored ADR $ARM

Midwest Trust Co bought a new position in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 29,541 shares of the company’s stock, valued at approximately $4,469,000.

Other hedge funds have also modified their holdings of the company. CreativeOne Wealth LLC grew its holdings in ARM by 5.0% during the fourth quarter. CreativeOne Wealth LLC now owns 1,830 shares of the company’s stock worth $200,000 after acquiring an additional 87 shares during the period. AdvisorNet Financial Inc boosted its position in shares of ARM by 6.2% during the 1st quarter. AdvisorNet Financial Inc now owns 1,681 shares of the company’s stock worth $254,000 after purchasing an additional 98 shares in the last quarter. Moors & Cabot Inc. grew its stake in shares of ARM by 5.3% during the 3rd quarter. Moors & Cabot Inc. now owns 2,050 shares of the company’s stock worth $290,000 after purchasing an additional 103 shares during the period. Heritage Trust Co increased its holdings in shares of ARM by 5.5% in the 4th quarter. Heritage Trust Co now owns 2,045 shares of the company’s stock valued at $224,000 after purchasing an additional 107 shares in the last quarter. Finally, TrueMark Investments LLC lifted its stake in shares of ARM by 1.4% in the first quarter. TrueMark Investments LLC now owns 7,592 shares of the company’s stock valued at $1,149,000 after purchasing an additional 107 shares during the period. 7.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ARM. Jefferies Financial Group set a $290.00 target price on shares of ARM in a research report on Thursday, May 21st. HSBC upgraded ARM from a “reduce” rating to a “buy” rating and upped their price target for the stock from $90.00 to $205.00 in a report on Friday, March 20th. Morgan Stanley reiterated an “equal weight” rating and set a $150.00 target price (up from $135.00) on shares of ARM in a research report on Tuesday, April 7th. UBS Group upped their target price on ARM from $260.00 to $470.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Finally, The Goldman Sachs Group lifted their price target on ARM from $125.00 to $150.00 and gave the stock a “sell” rating in a research note on Thursday, May 7th. Nineteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $279.83.

Insider Buying and Selling at ARM

In other ARM news, CAO Laura Kathleen Bartels sold 11,306 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $392.70, for a total value of $4,439,866.20. Following the transaction, the chief accounting officer directly owned 12,135 shares of the company’s stock, valued at $4,765,414.50. This trade represents a 48.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider William Abbey sold 6,566 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $402.72, for a total value of $2,644,259.52. Following the completion of the sale, the insider owned 20,563 shares of the company’s stock, valued at approximately $8,281,131.36. This trade represents a 24.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 248,205 shares of company stock valued at $57,741,572 in the last ninety days.

ARM Stock Performance

Shares of ARM stock opened at $323.39 on Monday. ARM Holdings PLC Sponsored ADR has a twelve month low of $100.02 and a twelve month high of $452.70. The company has a market capitalization of $345.41 billion, a price-to-earnings ratio of 384.99, a PEG ratio of 11.74 and a beta of 3.76. The firm has a 50-day moving average price of $318.07 and a 200 day moving average price of $197.37.

ARM (NASDAQ:ARM) last posted its quarterly earnings results on Wednesday, April 1st. The company reported $0.60 EPS for the quarter. ARM had a return on equity of 12.43% and a net margin of 18.37%.The company had revenue of $1.49 billion during the quarter. As a group, research analysts predict 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.