Wesbanco Bank Inc. Makes New $320,000 Investment in ARM Holdings PLC Sponsored ADR $ARM

Wesbanco Bank Inc. bought a new position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,112 shares of the company’s stock, valued at approximately $320,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Morgan Stanley boosted its holdings in shares of ARM by 1.2% during the 4th quarter. Morgan Stanley now owns 3,783,006 shares of the company’s stock valued at $413,521,000 after acquiring an additional 45,314 shares during the last quarter. Invesco Ltd. lifted its position in ARM by 36.9% during the fourth quarter. Invesco Ltd. now owns 2,426,850 shares of the company’s stock valued at $265,279,000 after purchasing an additional 654,727 shares during the period. Coatue Management LLC boosted its holdings in ARM by 1.8% in the fourth quarter. Coatue Management LLC now owns 2,300,000 shares of the company’s stock worth $251,413,000 after purchasing an additional 40,174 shares during the last quarter. Wellington Management Group LLP grew its position in ARM by 41.6% in the 4th quarter. Wellington Management Group LLP now owns 2,149,159 shares of the company’s stock worth $234,925,000 after purchasing an additional 631,576 shares during the period. Finally, Schroder Investment Management Group grew its position in ARM by 11.0% in the 4th quarter. Schroder Investment Management Group now owns 1,891,310 shares of the company’s stock worth $206,739,000 after purchasing an additional 187,035 shares during the period. Institutional investors own 7.53% of the company’s stock.

ARM Trading Up 2.8%

Shares of ARM stock opened at $343.58 on Tuesday. ARM Holdings PLC Sponsored ADR has a 12-month low of $100.02 and a 12-month high of $452.70. The stock’s 50-day moving average price is $295.53 and its 200-day moving average price is $184.78. The stock has a market capitalization of $366.97 billion, a price-to-earnings ratio of 409.02, a price-to-earnings-growth ratio of 12.14 and a beta of 3.77.

ARM (NASDAQ:ARM) last released 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 for the quarter. As a group, research analysts predict that ARM Holdings PLC Sponsored ADR will post 1.12 EPS for the current fiscal year.

Insider Buying and Selling at ARM

In other ARM news, insider Charlotte Claire Eaton sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $282.77, for a total transaction of $1,131,080.00. Following the sale, the insider directly owned 7,805 shares in the company, valued at $2,207,019.85. This represents a 33.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider William Abbey sold 6,566 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $402.72, for a total value of $2,644,259.52. Following the sale, the insider owned 20,563 shares in the company, valued at $8,281,131.36. The trade was a 24.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 248,205 shares of company stock valued at $57,741,572 over the last quarter.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Barclays lifted their price objective on ARM from $250.00 to $360.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. New Street Research cut ARM from a “buy” rating to a “neutral” rating in a research report on Thursday, June 18th. TD Cowen boosted their price target on ARM from $265.00 to $475.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. Royal Bank Of Canada increased their price objective on shares of ARM from $175.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Finally, Raymond James Financial reissued an “outperform” rating on shares of ARM in a report on Thursday, May 7th. Nineteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, ARM presently has an average rating of “Moderate Buy” and a consensus price target of $279.83.

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.