Arm Holdings PLC Sponsored ADR $ARM Stock Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA decreased its position in shares of Arm Holdings PLC Sponsored ADR (NASDAQ:ARM) by 16.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 48,782 shares of the company’s stock after selling 9,862 shares during the quarter. Pictet Asset Management Holding SA’s holdings in ARM were worth $14,130,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in ARM. Kings Path Partners LLC purchased a new position in ARM in the 3rd quarter worth about $29,000. Evelyn Partners Investment Management Services Ltd bought a new position in shares of ARM during the 1st quarter valued at $30,000. Allied Private Wealth LLC bought a new position in shares of ARM during the 2nd quarter valued at $71,000. CX Institutional purchased a new position in shares of ARM in the 3rd quarter worth $58,000. Finally, Cassaday & Co Wealth Management LLC bought a new stake in shares of ARM in the first quarter worth $40,000. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other ARM news, CFO Jason Child sold 10,400 shares of the firm’s stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $300.00, for a total transaction of $3,120,000.00. Following the completion of the transaction, the chief financial officer owned 153,442 shares in the company, valued at $46,032,600. This trade represents a 6.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ARM Price Performance

ARM stock opened at $199.78 on Friday. Arm Holdings PLC Sponsored ADR has a 1-year low of $100.02 and a 1-year high of $452.70. The business has a 50 day simple moving average of $249.19 and a two-hundred day simple moving average of $231.46. The company has a market capitalization of $213.38 billion, a price-to-earnings ratio of 229.63, a PEG ratio of 5.87 and a beta of 3.93.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, November 4th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.48 by $0.04. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.38 billion. ARM had a net margin of 17.13% and a return on equity of 11.57%. The company’s quarterly revenue was up 27.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.39 earnings per share. Sell-side analysts anticipate that Arm Holdings PLC Sponsored ADR will post 1.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ARM. Jefferies Financial Group reissued a “buy” rating and issued a $320.00 target price on shares of ARM in a report on Monday, July 20th. Barclays cut their target price on shares of ARM from $360.00 to $325.00 and set an “overweight” rating for the company in a research report on Thursday, November 5th. Bank of America reissued a “neutral” rating and set a $335.00 price objective (up from $245.00) on shares of ARM in a research report on Thursday, July 30th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $160.00 target price on shares of ARM in a report on Thursday, November 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $255.00 price objective on shares of ARM in a research note on Thursday, November 5th. Eighteen 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 company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $296.38.

ARM Company Profile

Arm Holdings plc designs and licenses semiconductor technology, including processor architectures and related intellectual property. Rather than manufacturing chips, the company licenses its designs and collects royalties on products that use them. Arm’s offerings include Cortex CPUs, Mali graphics processors, Neoverse infrastructure platforms and other technology for applications ranging from smartphones and consumer electronics to automotive systems, the Internet of Things and cloud computing.