Fortem Financial Group LLC Reduces Stock Position in ARM Holdings PLC Sponsored ADR $ARM

Fortem Financial Group LLC cut its holdings in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 13.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,843 shares of the company’s stock after selling 1,210 shares during the period. Fortem Financial Group LLC’s holdings in ARM were worth $1,186,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of ARM. Mcguire Capital Advisors Inc. bought a new stake in ARM during the 4th quarter valued at $30,000. Navalign LLC bought a new position in shares of ARM in the fourth quarter worth $33,000. FWL Investment Management LLC bought a new position in shares of ARM in the second quarter worth $34,000. Motiv8 Investments LLC purchased a new position in shares of ARM in the fourth quarter valued at $38,000. Finally, Strategic Investment Solutions Inc. IL grew its position in shares of ARM by 238.1% in the third quarter. Strategic Investment Solutions Inc. IL now owns 284 shares of the company’s stock valued at $40,000 after purchasing an additional 200 shares in the last quarter. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on ARM shares. Wells Fargo & Company increased their price objective on ARM from $255.00 to $410.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Morgan Stanley reaffirmed an “equal weight” rating and set a $150.00 target price (up from $135.00) on shares of ARM in a report on Tuesday, April 7th. Bank of America upped their price target on ARM from $245.00 to $335.00 and gave the company a “neutral” rating in a research report on Thursday, June 11th. Sanford C. Bernstein set a $500.00 price target on shares of ARM in a report on Wednesday. Finally, Mizuho increased their price target on shares of ARM from $425.00 to $500.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. 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’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $253.38.

Insiders Place Their Bets

In other news, insider Richard Roy Grisenthwaite sold 24,339 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $209.15, for a total transaction of $5,090,501.85. Following the completion of the transaction, the insider owned 5,543 shares of the company’s stock, valued at approximately $1,159,318.45. The trade was a 81.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $226.54, for a total transaction of $7,231,156.80. Following the completion of the transaction, the chief financial officer owned 174,232 shares in the company, valued at approximately $39,470,517.28. This trade represents 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 three months, insiders sold 301,338 shares of company stock worth $66,030,158.

ARM Stock Performance

ARM stock opened at $439.46 on Friday. The stock has a market cap of $469.38 billion, a P/E ratio of 523.17, a PEG ratio of 15.96 and a beta of 3.78. ARM Holdings PLC Sponsored ADR has a fifty-two week low of $100.02 and a fifty-two week high of $452.70. The firm’s fifty day moving average price is $271.16 and its 200-day moving average price is $175.21.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, April 1st. The company reported $0.60 earnings per share (EPS) for the quarter. The company 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%. Sell-side analysts predict that ARM Holdings PLC Sponsored ADR will post 1.12 earnings per share for the current year.

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.