Patriot Financial Group Insurance Agency LLC Makes New Investment in ARM Holdings PLC Sponsored ADR $ARM

Patriot Financial Group Insurance Agency LLC purchased a new stake in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) during the first quarter, Holdings Channel.com reports. The institutional investor purchased 3,354 shares of the company’s stock, valued at approximately $507,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ARM. Amundi lifted its stake in shares of ARM by 24.8% in the first quarter. Amundi now owns 11,804 shares of the company’s stock worth $1,153,000 after acquiring an additional 2,345 shares during the period. Empowered Funds LLC increased its position in ARM by 28.8% during the 1st quarter. Empowered Funds LLC now owns 4,887 shares of the company’s stock valued at $522,000 after purchasing an additional 1,094 shares during the period. Schnieders Capital Management LLC. raised its holdings in ARM by 9.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 2,430 shares of the company’s stock worth $393,000 after purchasing an additional 200 shares during the last quarter. Bank of Nova Scotia bought a new position in ARM during the 2nd quarter worth approximately $556,000. Finally, State Street Corp lifted its position in shares of ARM by 14.7% in the 2nd quarter. State Street Corp now owns 441,445 shares of the company’s stock worth $71,399,000 after purchasing an additional 56,656 shares during the period. Institutional investors and hedge funds own 7.53% of the company’s stock.

ARM Stock Down 4.8%

NASDAQ:ARM opened at $337.47 on Thursday. ARM Holdings PLC Sponsored ADR has a twelve month low of $100.02 and a twelve month high of $452.70. The company has a fifty day moving average of $302.53 and a 200-day moving average of $187.70. The firm has a market capitalization of $360.44 billion, a P/E ratio of 401.75, a P/E/G ratio of 12.88 and a beta of 3.76.

ARM (NASDAQ:ARM) last issued its earnings results on Wednesday, April 1st. The company reported $0.60 earnings per share (EPS) for the quarter. The business had revenue of $1.49 billion for the quarter. ARM had a net margin of 18.37% and a return on equity of 12.43%. On average, analysts anticipate that ARM Holdings PLC Sponsored ADR will post 1.12 EPS for the current fiscal year.

Insider Activity

In other news, CAO Laura Kathleen Bartels sold 11,306 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $392.70, for a total transaction of $4,439,866.20. Following the transaction, the chief accounting officer owned 12,135 shares of the company’s stock, valued at $4,765,414.50. This represents a 48.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Richard Roy Grisenthwaite sold 24,339 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $209.15, for a total value of $5,090,501.85. Following the completion of the sale, the insider owned 5,543 shares of the company’s stock, valued at approximately $1,159,318.45. This represents a 81.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 248,205 shares of company stock valued at $57,741,572.

Wall Street Analysts Forecast Growth

ARM has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 price objective on shares of ARM in a research note on Tuesday, June 16th. Bank of America boosted their target price on shares of ARM from $335.00 to $460.00 and gave the company a “neutral” rating in a report on Tuesday, June 23rd. Susquehanna increased their price target on ARM from $170.00 to $210.00 and gave the stock a “positive” rating in a report on Thursday, April 16th. TD Cowen increased their price target on ARM from $265.00 to $475.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Finally, HSBC raised ARM from a “reduce” rating to a “buy” rating and boosted their price objective for the company from $90.00 to $205.00 in a research note on Friday, March 20th. Nineteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $279.83.

About ARM

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.