Handelsbanken Fonder AB Sells 7,115 Shares of ARM Holdings PLC Sponsored ADR $ARM

Handelsbanken Fonder AB reduced its position in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 8.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 74,374 shares of the company’s stock after selling 7,115 shares during the period. Handelsbanken Fonder AB’s holdings in ARM were worth $26,371,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rathbones Group PLC boosted its stake in ARM by 4,638.8% in the 4th quarter. Rathbones Group PLC now owns 500,043 shares of the company’s stock worth $54,660,000 after purchasing an additional 489,491 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in ARM by 34.7% during 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 period. Partners Group Holding AG purchased a new stake in shares of ARM in the fourth quarter valued at $798,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of ARM by 13.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 417,775 shares of the company’s stock worth $45,667,000 after buying an additional 49,811 shares during the period. Finally, Farther Finance Advisors LLC boosted its position in shares of ARM by 98.2% in the fourth quarter. Farther Finance Advisors LLC now owns 17,604 shares of the company’s stock worth $1,924,000 after buying an additional 8,724 shares during the period. 7.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. New Street Research raised ARM from a “neutral” rating to a “buy” rating and set a $260.00 price target on the stock in a research report on Thursday, July 30th. Barclays raised their price objective on ARM from $250.00 to $360.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. UBS Group dropped their target price on ARM from $360.00 to $320.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. The Goldman Sachs Group increased their price target on shares of ARM from $125.00 to $150.00 and gave the stock a “sell” rating in a research report on Thursday, May 7th. Finally, Benchmark assumed coverage on shares of ARM in a report on Thursday, July 16th. They set a “hold” rating for the company. Eighteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, ARM presently has a consensus rating of “Moderate Buy” and a consensus target price of $285.33.

ARM Trading Up 1.1%

Shares of NASDAQ:ARM opened at $271.87 on Thursday. The firm has a market cap of $290.38 billion, a price-to-earnings ratio of 280.28, a P/E/G ratio of 7.97 and a beta of 3.90. ARM Holdings PLC Sponsored ADR has a 1 year low of $100.02 and a 1 year high of $452.70. The business has a fifty day simple moving average of $315.23 and a 200 day simple moving average of $222.79.

ARM (NASDAQ:ARM) last issued its earnings results on Thursday, July 30th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05. ARM had a return on equity of 12.24% and a net margin of 20.25%.The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the company posted $0.35 earnings per share. The business’s quarterly revenue was up 22.4% compared to the same quarter last year. On average, sell-side analysts forecast that ARM Holdings PLC Sponsored ADR will post 1.15 EPS for the current year.

Insider Transactions at ARM

In related news, insider William Abbey sold 6,566 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $402.72, for a total value of $2,644,259.52. Following the completion of the sale, the insider owned 20,563 shares of the company’s stock, valued at approximately $8,281,131.36. The trade was a 24.20% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Jason Child sold 31,920 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $226.54, for a total value of $7,231,156.80. Following the completion of the sale, the chief financial officer directly owned 174,232 shares of the company’s stock, valued at approximately $39,470,517.28. The trade was a 15.48% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 164,088 shares of company stock valued at $41,099,903 in the last quarter.

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.