Arm Holdings PLC Sponsored ADR $ARM Stock Holdings Reduced by Hoey Investments Inc.

Hoey Investments Inc. decreased its position in shares of Arm Holdings PLC Sponsored ADR (NASDAQ:ARM) by 30.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,002 shares of the company’s stock after selling 4,842 shares during the period. ARM accounts for about 0.4% of Hoey Investments Inc.’s investment portfolio, making the stock its 21st largest position. Hoey Investments Inc.’s holdings in ARM were worth $3,187,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership grew its stake in ARM by 1,203.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 945,152 shares of the company’s stock valued at $142,983,000 after acquiring an additional 872,644 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in shares of ARM during the 1st quarter valued at about $116,112,000. Hyperion Asset Management Ltd raised its position in shares of ARM by 36.9% during the 3rd quarter. Hyperion Asset Management Ltd now owns 727,273 shares of the company’s stock valued at $210,662,000 after buying an additional 195,942 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of ARM during the 3rd quarter valued at about $179,998,000. Finally, Altshuler Shaham Ltd lifted its holdings in shares of ARM by 202.6% in the 1st quarter. Altshuler Shaham Ltd now owns 478,289 shares of the company’s stock valued at $72,356,000 after acquiring an additional 320,236 shares during the last quarter. Institutional investors own 7.53% of the company’s stock.

ARM Stock Down 10.0%

ARM stock opened at $205.97 on Friday. The stock has a market capitalization of $219.99 billion, a P/E ratio of 212.34, a P/E/G ratio of 6.11 and a beta of 3.78. The firm has a 50-day simple moving average of $258.73 and a 200-day simple moving average of $227.92. Arm Holdings PLC Sponsored ADR has a 52 week low of $100.02 and a 52 week high of $452.70.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05. ARM had a net margin of 20.25% and a return on equity of 12.24%. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the company posted $0.35 EPS. ARM’s quarterly revenue was up 22.4% compared to the same quarter last year. On average, analysts expect that Arm Holdings PLC Sponsored ADR will post 1.15 earnings per share for the current year.

Insider Buying and Selling

In other ARM news, CFO Jason Child sold 10,400 shares of the business’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 sale, the chief financial officer directly owned 153,442 shares in the company, valued at approximately $46,032,600. The trade was a 6.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ARM. Jefferies Financial Group restated a “buy” rating and set a $320.00 price target on shares of ARM in a report on Monday, July 20th. Morgan Stanley lifted their price objective on ARM from $202.00 to $212.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Wells Fargo & Company decreased their price target on shares of ARM from $350.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th. Needham & Company LLC reissued a “buy” rating and set a $255.00 target price on shares of ARM in a research report on Thursday, July 30th. Finally, Piper Sandler assumed coverage on shares of ARM in a research report on Wednesday, September 9th. They set an “overweight” rating and a $320.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $303.32.

ARM Company Profile

Arm Holdings plc (NASDAQ: ARM) is a semiconductor and software design company that develops central processing unit (CPU) architectures and related intellectual property. Rather than manufacturing chips itself, Arm licenses its designs and instruction-set architectures to semiconductor companies and technology manufacturers, which incorporate them into their own products.

The company’s offerings include CPU processor cores, graphics processing units through its Mali product family, system IP, development tools and software.