Oak Grove Capital LLC Reduces Position in ARM Holdings PLC Sponsored ADR $ARM

Oak Grove Capital LLC decreased its holdings in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 42.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,500 shares of the company’s stock after selling 4,700 shares during the quarter. Oak Grove Capital LLC’s holdings in ARM were worth $711,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Rathbones Group PLC boosted its holdings in shares of ARM by 4,638.8% during the fourth quarter. Rathbones Group PLC now owns 500,043 shares of the company’s stock valued at $54,660,000 after acquiring an additional 489,491 shares during the period. Paragon Capital Management Inc. acquired a new stake in shares of ARM in the 4th quarter worth about $826,000. Lansdowne Partners UK LLP acquired a new stake in shares of ARM in the 3rd quarter worth about $8,486,000. Hyperion Asset Management Ltd bought a new stake in ARM in the 3rd quarter valued at about $202,980,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in ARM by 34.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,188 shares of the company’s stock valued at $2,644,000 after purchasing an additional 6,232 shares during the last quarter. Hedge funds and other institutional investors own 7.53% of the company’s stock.

Insider Activity at ARM

In related news, insider Spencer Collins sold 51,961 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $211.73, for a total transaction of $11,001,702.53. Following the completion of the transaction, the insider owned 51,125 shares of the company’s stock, valued at $10,824,696.25. This trade represents a 50.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Rene A. Haas sold 23,867 shares of the firm’s stock in a transaction dated Wednesday, March 25th. The shares were sold at an average price of $161.17, for a total value of $3,846,644.39. Following the transaction, the chief executive officer directly owned 290,965 shares of the company’s stock, valued at $46,894,829.05. This represents a 7.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 301,338 shares of company stock worth $66,030,158 in the last quarter.

ARM Price Performance

ARM stock opened at $439.46 on Friday. ARM Holdings PLC Sponsored ADR has a 12-month low of $100.02 and a 12-month high of $452.70. The stock has a market capitalization of $469.38 billion, a PE ratio of 523.17, a price-to-earnings-growth ratio of 15.21 and a beta of 3.78. The firm has a 50 day simple moving average of $265.35 and a 200-day simple moving average of $173.35.

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on ARM shares. Needham & Company LLC restated a “buy” rating and issued a $400.00 price target on shares of ARM in a research note on Tuesday. Wells Fargo & Company boosted their price objective on ARM from $255.00 to $410.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Raymond James Financial reissued an “outperform” rating on shares of ARM in a report on Thursday, May 7th. Jefferies Financial Group set a $290.00 target price on ARM in a research report on Thursday, May 21st. Finally, Sanford C. Bernstein set a $500.00 target price on ARM in a research note on Wednesday. Nineteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $253.38.

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.