Monetta Financial Services Inc. Acquires New Position in ARM Holdings PLC Sponsored ADR $ARM

Monetta Financial Services Inc. acquired a new position in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 3,500 shares of the company’s stock, valued at approximately $1,241,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ARM. Syntax Research Inc. purchased a new position in ARM in the 1st quarter worth about $30,000. Evelyn Partners Investment Management Services Ltd acquired a new stake in shares of ARM during the 1st quarter valued at $30,000. Mcguire Capital Advisors Inc. acquired a new stake in ARM during the fourth quarter valued at $30,000. Navalign LLC bought a new stake in shares of ARM in the 4th quarter valued at approximately $33,000. Finally, FWL Investment Management LLC bought a new stake in ARM in the second quarter worth approximately $34,000. Institutional investors own 7.53% of the company’s stock.

ARM Stock Performance

ARM stock opened at $249.34 on Thursday. ARM Holdings PLC Sponsored ADR has a 52 week low of $100.02 and a 52 week high of $452.70. The company’s 50-day simple moving average is $307.58 and its 200 day simple moving average is $228.20. The company has a market capitalization of $266.32 billion, a PE ratio of 257.05, a price-to-earnings-growth ratio of 7.51 and a beta of 3.90.

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

Insider Buying and Selling at ARM

In other ARM news, CAO Laura Kathleen Bartels sold 11,306 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $392.70, for a total transaction of $4,439,866.20. Following the sale, the chief accounting officer directly owned 12,135 shares of the company’s stock, valued at $4,765,414.50. This represents a 48.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider William Abbey sold 6,566 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $402.72, for a total transaction of $2,644,259.52. Following the completion of the sale, the insider directly owned 20,563 shares in the company, valued at approximately $8,281,131.36. The trade was a 24.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 24,372 shares of company stock worth $9,231,514.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. UBS Group cut their price objective on shares of ARM from $360.00 to $320.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Wells Fargo & Company cut their price objective on ARM from $350.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, July 30th. Benchmark started coverage on ARM in a report on Thursday, July 16th. They issued a “hold” rating on the stock. HSBC downgraded shares of ARM from a “buy” rating to a “hold” rating and upped their price target for the stock from $255.00 to $315.00 in a research report on Tuesday, July 14th. Finally, Sanford C. Bernstein set a $500.00 price objective on ARM in a research report on Wednesday, June 17th. Eighteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $285.33.

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.