Kestra Advisory Services LLC Grows Position in ARM Holdings PLC Sponsored ADR $ARM

Kestra Advisory Services LLC raised its stake in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 19.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,840 shares of the company’s stock after acquiring an additional 2,697 shares during the period. Kestra Advisory Services LLC’s holdings in ARM were worth $2,548,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Morgan Stanley grew its position in ARM by 1.2% in the 4th quarter. Morgan Stanley now owns 3,783,006 shares of the company’s stock worth $413,521,000 after purchasing an additional 45,314 shares in the last quarter. Invesco Ltd. increased its stake in ARM by 36.9% in the 4th quarter. Invesco Ltd. now owns 2,426,850 shares of the company’s stock valued at $265,279,000 after buying an additional 654,727 shares during the last quarter. Coatue Management LLC lifted its position in shares of ARM by 1.8% during the 4th quarter. Coatue Management LLC now owns 2,300,000 shares of the company’s stock worth $251,413,000 after buying an additional 40,174 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of 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 buying an additional 631,576 shares during the last quarter. Finally, Schroder Investment Management Group boosted its stake in shares of 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 buying an additional 187,035 shares during the last quarter. Institutional investors own 7.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ARM shares. UBS Group upped their target price on ARM from $260.00 to $470.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Barclays boosted their price objective on ARM from $250.00 to $360.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 target price on shares of ARM in a research report on Tuesday, June 16th. TD Cowen lifted their target price on ARM from $265.00 to $475.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Finally, Wells Fargo & Company boosted their price target on shares of ARM from $255.00 to $410.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Seventeen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, ARM currently has an average rating of “Moderate Buy” and a consensus price target of $298.96.

Insider Activity

In related news, insider Spencer Collins sold 51,961 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $211.73, for a total transaction of $11,001,702.53. Following the sale, the insider directly owned 51,125 shares in the company, valued at approximately $10,824,696.25. This represents a 50.41% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Jason Child sold 31,920 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $226.54, for a total transaction of $7,231,156.80. Following the completion of the transaction, the chief financial officer directly owned 174,232 shares of the company’s stock, valued at approximately $39,470,517.28. This trade represents a 15.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 238,906 shares of company stock valued at $56,245,828.

ARM Price Performance

Shares of NASDAQ ARM opened at $267.19 on Friday. The stock has a market capitalization of $285.38 billion, a PE ratio of 318.08, a P/E/G ratio of 9.70 and a beta of 3.76. ARM Holdings PLC Sponsored ADR has a one year low of $100.02 and a one year high of $452.70. The business’s fifty day moving average price is $324.14 and its 200-day moving average price is $202.57.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, April 1st. The company reported $0.60 earnings per share for the quarter. ARM had a return on equity of 12.43% and a net margin of 18.37%.The company had revenue of $1.49 billion during the quarter. As a group, equities analysts expect that ARM Holdings PLC Sponsored ADR will post 1.12 EPS for the current fiscal year.

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.