TD Asset Management Inc Sells 16,280 Shares of ARM Holdings PLC Sponsored ADR $ARM

TD Asset Management Inc cut its holdings in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 11.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 123,764 shares of the company’s stock after selling 16,280 shares during the period. TD Asset Management Inc’s holdings in ARM were worth $13,529,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. FWL Investment Management LLC bought a new stake in ARM during the 2nd quarter worth approximately $34,000. Strategic Investment Solutions Inc. IL grew its position in ARM by 238.1% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 284 shares of the company’s stock worth $40,000 after acquiring an additional 200 shares during the last quarter. Navalign LLC bought a new stake in ARM during the 4th quarter worth approximately $33,000. WFA of San Diego LLC bought a new stake in ARM during the 2nd quarter worth approximately $49,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in ARM during the 4th quarter worth approximately $43,000. 7.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Jason Child sold 31,920 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $226.54, for a total value of $7,231,156.80. Following the transaction, the chief financial officer directly owned 174,232 shares in the company, valued at $39,470,517.28. This trade represents a 15.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Spencer Collins sold 51,961 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $211.73, for a total value of $11,001,702.53. Following the completion of the transaction, the insider owned 51,125 shares in the company, valued at $10,824,696.25. This represents a 50.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 301,338 shares of company stock worth $66,030,158 over the last three months.

ARM Stock Performance

Shares of ARM opened at $346.39 on Tuesday. The firm has a market capitalization of $369.97 billion, a price-to-earnings ratio of 412.37, a PEG ratio of 12.45 and a beta of 3.77. The business’s fifty day moving average price is $228.47 and its two-hundred day moving average price is $159.59. ARM Holdings PLC Sponsored ADR has a 52 week low of $100.02 and a 52 week high of $427.99.

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Needham & Company LLC increased their price objective on ARM from $200.00 to $255.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. HSBC upgraded ARM from a “reduce” rating to a “buy” rating and increased their price objective for the company from $90.00 to $205.00 in a research report on Friday, March 20th. TD Cowen increased their price objective on ARM from $165.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Morgan Stanley reiterated an “equal weight” rating and issued a $150.00 price objective (up from $135.00) on shares of ARM in a research report on Tuesday, April 7th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of ARM in a research report on Thursday, May 7th. Twenty research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $230.04.

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.