CacheTech Inc. Buys 2,346 Shares of ARM Holdings PLC Sponsored ADR $ARM

CacheTech Inc. boosted its stake in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 9.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,011 shares of the company’s stock after purchasing an additional 2,346 shares during the quarter. CacheTech Inc.’s holdings in ARM were worth $4,238,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ARM. Morgan Stanley boosted its position in shares of ARM by 1.2% during 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 position 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 in the last quarter. Coatue Management LLC increased its position in ARM by 1.8% in the 4th quarter. Coatue Management LLC now owns 2,300,000 shares of the company’s stock valued at $251,413,000 after buying an additional 40,174 shares in the last quarter. Wellington Management Group LLP raised its stake in ARM by 41.6% during 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 period. Finally, Schroder Investment Management Group grew its stake in ARM by 11.0% in the fourth quarter. Schroder Investment Management Group now owns 1,891,310 shares of the company’s stock valued at $206,739,000 after acquiring an additional 187,035 shares during the period. 7.53% of the stock is owned by institutional investors.

ARM Stock Up 7.5%

Shares of ARM stock opened at $289.73 on Wednesday. ARM Holdings PLC Sponsored ADR has a 52 week low of $100.02 and a 52 week high of $452.70. The business has a 50 day moving average price of $326.92 and a 200-day moving average price of $205.61. The company has a market cap of $309.45 billion, a PE ratio of 344.92, a price-to-earnings-growth ratio of 9.84 and a beta of 3.76.

ARM (NASDAQ:ARM) last announced its 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 company had revenue of $1.49 billion for the quarter. As a group, research analysts anticipate that ARM Holdings PLC Sponsored ADR will post 1.12 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ARM shares. Mizuho boosted their price objective on ARM from $425.00 to $500.00 and gave the company an “outperform” rating in a report on Monday, June 8th. Morgan Stanley reissued an “equal weight” rating and issued a $150.00 price target (up from $135.00) on shares of ARM in a research report on Tuesday, April 7th. Raymond James Financial restated an “outperform” rating on shares of ARM in a research note on Thursday, May 7th. Wells Fargo & Company upped their price objective on shares of ARM from $255.00 to $410.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Finally, UBS Group lowered their price objective on shares of ARM from $470.00 to $360.00 and set a “buy” rating on the stock in a report on Monday. Seventeen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, ARM currently has a consensus rating of “Moderate Buy” and a consensus target price of $300.26.

Insider Activity

In related news, 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 transaction of $5,090,501.85. Following the transaction, the insider directly owned 5,543 shares of the company’s stock, valued at $1,159,318.45. This trade represents a 81.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jason Child sold 31,920 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $226.54, for a total transaction 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. The trade was a 15.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 217,626 shares of company stock worth $52,415,428.

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.