Arrowstreet Capital Limited Partnership Raises Stake in ARM Holdings PLC Sponsored ADR $ARM

Arrowstreet Capital Limited Partnership lifted its holdings in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 1,203.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 945,152 shares of the company’s stock after buying an additional 872,644 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in ARM were worth $142,983,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ARM. Syntax Research Inc. bought a new stake in ARM in the first quarter valued at approximately $30,000. Mcguire Capital Advisors Inc. bought a new position in shares of ARM in the fourth quarter worth approximately $30,000. Navalign LLC bought a new position in shares of ARM in the fourth quarter worth approximately $33,000. FWL Investment Management LLC purchased a new position in shares of ARM in the second quarter worth $34,000. Finally, Motiv8 Investments LLC purchased a new position in shares of ARM in the fourth quarter worth $38,000. 7.53% of the stock is currently owned by institutional investors.

ARM Trading Down 8.1%

Shares of ARM stock opened at $260.01 on Friday. The company’s fifty day moving average price is $330.27 and its 200-day moving average price is $208.38. The stock has a market cap of $277.71 billion, a PE ratio of 309.54, a price-to-earnings-growth ratio of 8.08 and a beta of 3.76. 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 issued its quarterly earnings results on Wednesday, April 1st. The company reported $0.60 earnings per share (EPS) for the quarter. ARM had a net margin of 18.37% and a return on equity of 12.43%. The company had revenue of $1.49 billion during the quarter. On average, sell-side analysts forecast that ARM Holdings PLC Sponsored ADR will post 1.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group reissued a “buy” rating and issued a $320.00 price target on shares of ARM in a report on Monday, July 20th. Wells Fargo & Company lowered their price objective on shares of ARM from $410.00 to $350.00 and set an “overweight” rating for the company in a research note on Wednesday. Sanford C. Bernstein set a $500.00 target price on shares of ARM in a report on Wednesday, June 17th. KeyCorp raised their target price on ARM from $300.00 to $430.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Finally, Bank of America boosted their price target on ARM from $335.00 to $460.00 and gave the company a “neutral” rating in a report on Tuesday, June 23rd. Seventeen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $297.65.

Insider Buying and Selling at ARM

In other news, insider Richard Roy Grisenthwaite sold 24,339 shares of ARM stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $209.15, for a total value of $5,090,501.85. Following the completion of the transaction, the insider owned 5,543 shares of the company’s stock, valued at $1,159,318.45. The trade was a 81.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Spencer Collins sold 51,961 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $211.73, for a total transaction of $11,001,702.53. Following the completion of the transaction, the insider owned 51,125 shares in the company, valued at approximately $10,824,696.25. The trade was a 50.41% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 216,049 shares of company stock valued at $52,101,605.

ARM Company 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.