Independent Financial Group LLC Purchases Shares of 9,103 ARM Holdings PLC Sponsored ADR $ARM

Independent Financial Group LLC purchased a new stake in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 9,103 shares of the company’s stock, valued at approximately $1,377,000.

Other institutional investors also recently modified their holdings of the company. Syntax Research Inc. purchased a new stake in ARM in the first quarter valued at approximately $30,000. Mcguire Capital Advisors Inc. purchased a new position in ARM in the 4th quarter worth approximately $30,000. Navalign LLC purchased a new position in ARM in the 4th quarter worth approximately $33,000. FWL Investment Management LLC bought a new position in shares of ARM in the 2nd quarter worth $34,000. Finally, Motiv8 Investments LLC bought a new position in shares of ARM in the 4th quarter worth $38,000. 7.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ARM

In other news, CAO Laura Kathleen Bartels sold 11,306 shares of ARM stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $392.70, for a total value of $4,439,866.20. Following the sale, the chief accounting officer directly owned 12,135 shares in the company, valued at approximately $4,765,414.50. This trade represents a 48.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Richard Roy Grisenthwaite sold 24,339 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $209.15, for a total value of $5,090,501.85. Following the transaction, the insider directly owned 5,543 shares in the company, valued at $1,159,318.45. This trade represents a 81.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 238,906 shares of company stock worth $56,245,828 over the last three months.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Sanford C. Bernstein set a $500.00 price objective on shares of ARM in a report on Wednesday, June 17th. Morgan Stanley reissued an “equal weight” rating and issued a $150.00 target price (up from $135.00) on shares of ARM in a research note on Tuesday, April 7th. New Street Research downgraded ARM from a “buy” rating to a “neutral” rating in a research report on Thursday, June 18th. Rosenblatt Securities lifted their price target on ARM from $175.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, Mizuho upped their price objective on ARM from $425.00 to $500.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Seventeen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $298.96.

ARM Price Performance

Shares of ARM opened at $267.19 on Monday. The stock has a market capitalization of $285.38 billion, a P/E ratio of 318.08, a PEG ratio of 9.70 and a beta of 3.76. The firm has a fifty day simple moving average of $324.14 and a two-hundred day simple moving average of $203.22. ARM Holdings PLC Sponsored ADR has a twelve month low of $100.02 and a twelve month high of $452.70.

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

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.