NewEdge Advisors LLC Cuts Stake in ARM Holdings PLC Sponsored ADR $ARM

NewEdge Advisors LLC lowered its holdings in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 31.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 16,633 shares of the company’s stock after selling 7,489 shares during the period. NewEdge Advisors LLC’s holdings in ARM were worth $2,516,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Syntax Research Inc. bought a new position in shares of ARM during the first quarter valued at about $30,000. Evelyn Partners Investment Management Services Ltd bought a new stake in shares of ARM in the 1st quarter valued at about $30,000. Mcguire Capital Advisors Inc. bought a new stake in shares of ARM in the 4th quarter valued at about $30,000. Navalign LLC purchased a new stake in ARM during the 4th quarter valued at about $33,000. Finally, FWL Investment Management LLC purchased a new stake in ARM during the 2nd quarter valued at about $34,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ARM shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ARM in a research note on Friday, July 17th. Morgan Stanley increased their price target on shares of ARM from $202.00 to $212.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Sanford C. Bernstein set a $500.00 price target on shares of ARM in a report on Wednesday, June 17th. TD Cowen decreased their price objective on shares of ARM from $475.00 to $350.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Finally, Bank of America reaffirmed a “neutral” rating on shares of ARM in a research note on Thursday, July 30th. Eighteen 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, the company has an average rating of “Moderate Buy” and an average price target of $285.33.

Insider Activity

In other news, CAO Laura Kathleen Bartels sold 11,306 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $392.70, for a total transaction of $4,439,866.20. Following the transaction, the chief accounting officer directly 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 filing with the Securities & Exchange Commission, which is available through this link. Also, insider Charlotte Claire Eaton sold 7,805 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $290.01, for a total value of $2,263,528.05. Following the completion of the transaction, the insider directly owned 5,000 shares in the company, valued at $1,450,050. The trade was a 60.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 157,088 shares of company stock worth $39,612,053.

ARM Trading Up 2.5%

ARM opened at $278.65 on Friday. The stock has a fifty day simple moving average of $312.94 and a two-hundred day simple moving average of $223.93. The company has a market cap of $297.62 billion, a price-to-earnings ratio of 287.27, a price-to-earnings-growth ratio of 8.06 and a beta of 3.90. 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 posted its quarterly earnings data on Thursday, July 30th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.40 by $0.05. ARM had a net margin of 20.25% and a return on equity of 12.24%. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the firm posted $0.35 earnings per share. ARM’s quarterly revenue was up 22.4% on a year-over-year basis. On average, analysts predict that ARM Holdings PLC Sponsored ADR will post 1.15 EPS for the current 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.