NFSG Corp Sells 67,207 Shares of ARM Holdings PLC Sponsored ADR $ARM

NFSG Corp lessened its position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 74.6% in the 1st quarter, Holdings Channel reports. The firm owned 22,938 shares of the company’s stock after selling 67,207 shares during the period. NFSG Corp’s holdings in ARM were worth $3,470,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mandatum Life Insurance Co Ltd acquired a new position in shares of ARM in the 1st quarter valued at $2,894,000. Sigma Planning Corp raised its stake in ARM by 6.5% during the 1st quarter. Sigma Planning Corp now owns 2,301 shares of the company’s stock worth $348,000 after buying an additional 140 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in ARM by 81.1% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 5,608 shares of the company’s stock worth $848,000 after acquiring an additional 2,512 shares in the last quarter. Chicago Partners Investment Group LLC bought a new position in ARM during the first quarter worth about $277,000. Finally, Global Assets Advisory LLC acquired a new position in ARM in the first quarter valued at about $61,000. 7.53% of the stock is owned by institutional investors.

Insider Buying and Selling at ARM

In other news, insider Charlotte Claire Eaton sold 4,000 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $282.77, for a total value of $1,131,080.00. Following the sale, the insider owned 7,805 shares of the company’s stock, valued at $2,207,019.85. The trade was a 33.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider William Abbey sold 6,566 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $402.72, for a total transaction of $2,644,259.52. Following the completion of the transaction, the insider directly 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. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 238,906 shares of company stock worth $56,245,828.

Wall Street Analyst Weigh In

ARM has been the topic of a number of research analyst reports. Guggenheim raised their price target on ARM from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. UBS Group increased their target price on ARM from $260.00 to $470.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ARM in a research note on Monday, April 20th. Bank of America upped their price target on shares of ARM from $335.00 to $460.00 and gave the company a “neutral” rating in a report on Tuesday, June 23rd. Finally, The Goldman Sachs Group increased their price objective on shares of ARM from $125.00 to $150.00 and gave the stock a “sell” rating in a research report on Thursday, May 7th. Eighteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $295.25.

ARM Stock Performance

NASDAQ:ARM opened at $281.17 on Wednesday. The stock has a 50-day simple moving average of $321.30 and a 200 day simple moving average of $199.88. ARM Holdings PLC Sponsored ADR has a 52-week low of $100.02 and a 52-week high of $452.70. The company has a market cap of $300.31 billion, a PE ratio of 334.73, a PEG ratio of 10.86 and a beta of 3.76.

ARM (NASDAQ:ARM) last released its 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 firm had revenue of $1.49 billion for the quarter. On average, research analysts predict that ARM Holdings PLC Sponsored ADR will post 1.12 earnings per share for the current fiscal 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.