Insider Selling: ARM (NASDAQ:ARM) CFO Sells $2,655,432.00 in Stock

Arm Holdings PLC Sponsored ADR (NASDAQ:ARM) CFO Jason Child sold 10,400 shares of the stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $255.33, for a total value of $2,655,432.00. Following the transaction, the chief financial officer owned 163,832 shares in the company, valued at $41,831,224.56. This trade represents a 5.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ARM Price Performance

ARM opened at $234.86 on Thursday. The stock has a market capitalization of $250.85 billion, a price-to-earnings ratio of 242.13, a price-to-earnings-growth ratio of 6.96 and a beta of 3.89. The business has a 50-day moving average of $276.97 and a two-hundred day moving average of $237.19. Arm Holdings PLC Sponsored ADR has a 12 month low of $100.02 and a 12 month high of $452.70.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.05. ARM had a net margin of 20.25% and a return on equity of 12.24%. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the firm posted $0.35 EPS. The company’s revenue was up 22.4% on a year-over-year basis. Equities research analysts anticipate that Arm Holdings PLC Sponsored ADR will post 1.15 earnings per share for the current year.

Institutional Investors Weigh In On ARM

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARM. Syntax Research Inc. acquired a new stake in shares of ARM during the first quarter valued at about $30,000. Evelyn Partners Investment Management Services Ltd acquired a new position in shares of ARM in the first quarter worth about $30,000. Allied Private Wealth LLC purchased a new position in ARM in the second quarter valued at about $71,000. FWL Investment Management LLC acquired a new stake in ARM during the 2nd quarter valued at approximately $34,000. Finally, Cassaday & Co Wealth Management LLC acquired a new stake in ARM during the 1st quarter valued at approximately $40,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of ARM in a report on Thursday, May 7th. New Street Research raised shares of ARM from a “neutral” rating to a “buy” rating and set a $260.00 target price for the company in a research report on Thursday, July 30th. TD Cowen cut their price target on shares of ARM from $475.00 to $350.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ARM in a research report on Friday, July 17th. Finally, UBS Group decreased their price objective on shares of ARM from $360.00 to $320.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Eighteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $305.12.

About ARM

Arm Holdings (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.