William Abbey Sells 2,300 Shares of ARM (NASDAQ:ARM) Stock

ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) insider William Abbey sold 2,300 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $305.82, for a total value of $703,386.00. Following the transaction, the insider owned 31,329 shares of the company’s stock, valued at approximately $9,581,034.78. The trade was a 6.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

William Abbey also recently made the following trade(s):

• On Thursday, May 21st, William Abbey sold 4,655 shares of ARM stock. The stock was sold at an average price of $287.03, for a total value of $1,336,124.65.
• On Wednesday, May 20th, William Abbey sold 5,069 shares of ARM stock. The shares were sold at an average price of $257.18, for a total value of $1,303,645.42.
• On Tuesday, May 19th, William Abbey sold 10,887 shares of ARM stock. The shares were sold at an average price of $224.14, for a total transaction of $2,440,212.18.
• On Friday, May 15th, William Abbey sold 7,000 shares of ARM stock. The shares were sold at an average price of $212.55, for a total transaction of $1,487,850.00.
• On Thursday, April 23rd, William Abbey sold 1,577 shares of ARM stock. The shares were sold at an average price of $199.00, for a total transaction of $313,823.00.

ARM Stock Down 5.8%

Shares of NASDAQ:ARM opened at $302.71 on Thursday. ARM Holdings PLC Sponsored ADR has a 52 week low of $100.02 and a 52 week high of $325.00. The stock has a market capitalization of $319.82 billion, a P/E ratio of 360.37, a PEG ratio of 11.67 and a beta of 3.40. The firm has a fifty day simple moving average of $190.61 and a two-hundred day simple moving average of $146.68.

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

Analyst Upgrades and Downgrades

ARM has been the topic of several recent research reports. Barclays increased their price target on ARM from $200.00 to $250.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of ARM in a research note on Thursday, May 7th. The Goldman Sachs Group increased their target price 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. Sanford C. Bernstein began coverage on shares of ARM in a research note on Monday, May 18th. They set an “outperform” rating and a $300.00 price target for the company. Finally, Rosenblatt Securities upped their price target on shares of ARM from $175.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Twenty analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $208.79.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ARM. GKV Capital Management Co. Inc. bought a new stake in shares of ARM during the first quarter worth $106,000. CTC Alternative Strategies Ltd. bought a new position in shares of ARM in the first quarter worth about $2,322,000. BankChampaign National Association purchased a new position in ARM in the 1st quarter worth about $510,000. Groupe la Francaise increased its stake in ARM by 62.9% in the 1st quarter. Groupe la Francaise now owns 41,953 shares of the company’s stock worth $6,309,000 after buying an additional 16,201 shares during the period. Finally, Liontrust Investment Partners LLP lifted its holdings in ARM by 139.7% during the 1st quarter. Liontrust Investment Partners LLP now owns 347,339 shares of the company’s stock valued at $52,545,000 after buying an additional 202,410 shares in the last quarter. Hedge funds and other institutional investors own 7.53% of the company’s stock.

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.