Insider Selling: ARM (NASDAQ:ARM) CEO Sells 7,986 Shares of Stock

ARM Holdings PLC Sponsored ADR (NASDAQ:ARMGet Free Report) CEO Rene Haas sold 7,986 shares of the business’s stock in a transaction dated Thursday, March 26th. The stock was sold at an average price of $160.86, for a total transaction of $1,284,627.96. Following the transaction, the chief executive officer owned 282,979 shares in the company, valued at approximately $45,520,001.94. This trade represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

ARM Stock Down 6.9%

NASDAQ ARM opened at $144.13 on Friday. The stock has a market capitalization of $152.27 billion, a P/E ratio of 192.17, a P/E/G ratio of 9.78 and a beta of 4.11. ARM Holdings PLC Sponsored ADR has a 52-week low of $80.00 and a 52-week high of $183.16. The firm has a 50-day moving average price of $122.48 and a 200 day moving average price of $134.35.

ARM (NASDAQ:ARMGet Free Report) last announced its quarterly earnings data on Thursday, February 5th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. ARM had a return on equity of 14.01% and a net margin of 17.15%.The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the previous year, the company earned $0.39 EPS. The firm’s revenue for the quarter was up 26.3% compared to the same quarter last year. On average, equities research analysts expect that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ARM

Several hedge funds have recently bought and sold shares of the company. Rockefeller Capital Management L.P. increased its stake in ARM by 0.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 26,745 shares of the company’s stock valued at $2,923,000 after purchasing an additional 173 shares in the last quarter. Fund Advisors of America Inc FL purchased a new stake in ARM during the fourth quarter worth $663,000. Hsbc Holdings PLC boosted its position in ARM by 25.2% during the fourth quarter. Hsbc Holdings PLC now owns 92,992 shares of the company’s stock worth $10,281,000 after purchasing an additional 18,717 shares in the last quarter. SHP Wealth Management acquired a new stake in ARM in the fourth quarter valued at $69,000. Finally, Employees Provident Fund Board acquired a new stake in ARM in the fourth quarter valued at $120,241,000. 7.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ARM shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $175.00 price objective on shares of ARM in a report on Wednesday. New Street Research raised ARM from a “neutral” rating to a “buy” rating in a report on Thursday, February 5th. Citigroup lowered shares of ARM from a “buy” rating to a “hold” rating in a research report on Tuesday, January 13th. Deutsche Bank Aktiengesellschaft upped their price target on shares of ARM from $125.00 to $140.00 and gave the stock a “hold” rating in a research note on Wednesday. Finally, Needham & Company LLC upgraded shares of ARM from a “hold” rating to a “buy” rating and set a $200.00 price target for the company in a report on Thursday. Nineteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $168.17.

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About ARM

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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.

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