24,126 Shares in ARM Holdings PLC Sponsored ADR $ARM Bought by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. purchased a new stake in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) during the 1st quarter, Holdings Channel reports. The firm purchased 24,126 shares of the company’s stock, valued at approximately $3,589,000.

Several other hedge funds also recently modified their holdings of the stock. Capital Research Global Investors bought a new stake in ARM during the third quarter worth about $243,098,000. Northwestern Mutual Wealth Management Co. increased its holdings in ARM by 2,623.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,671,787 shares of the company’s stock worth $182,743,000 after buying an additional 1,610,403 shares during the last quarter. Hyperion Asset Management Ltd bought a new stake in ARM during the third quarter worth $202,980,000. Employees Provident Fund Board acquired a new stake in ARM in the fourth quarter valued at $120,241,000. Finally, SG Americas Securities LLC lifted its stake in ARM by 265.6% in the first quarter. SG Americas Securities LLC now owns 971,067 shares of the company’s stock valued at $146,903,000 after acquiring an additional 705,459 shares during the last quarter. Institutional investors own 7.53% of the company’s stock.

ARM Trading Down 7.0%

Shares of NASDAQ:ARM traded down $22.45 during trading on Tuesday, reaching $299.79. 2,429,855 shares of the stock were exchanged, compared to its average volume of 8,880,647. 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 50-day moving average price of $307.70 and a 200-day moving average price of $190.34. The firm has a market cap of $320.20 billion, a PE ratio of 356.89, a PEG ratio of 11.45 and a beta of 3.76.

ARM (NASDAQ:ARM) last released its quarterly 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%. On average, sell-side analysts expect that ARM Holdings PLC Sponsored ADR will post 1.12 earnings per share for the current fiscal year.

Insider Transactions at ARM

In other ARM news, CFO Jason Child sold 31,920 shares of ARM stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $226.54, for a total value of $7,231,156.80. Following the completion of the transaction, the chief financial officer directly owned 174,232 shares of the company’s stock, valued at $39,470,517.28. The trade was a 15.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Richard Roy Grisenthwaite sold 24,339 shares of the company’s stock in a transaction 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 sale, 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 SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 248,205 shares of company stock worth $57,741,572.

Analysts Set New Price Targets

ARM has been the topic of several recent analyst reports. The Goldman Sachs Group boosted their price objective on shares of ARM from $125.00 to $150.00 and gave the stock a “sell” rating in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of ARM in a research note on Thursday, May 7th. Morgan Stanley reiterated an “equal weight” rating and set a $150.00 price target (up from $135.00) on shares of ARM in a report on Tuesday, April 7th. UBS Group boosted their price target on ARM from $260.00 to $470.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Finally, Bank of America raised their price objective on ARM from $335.00 to $460.00 and gave the company a “neutral” rating in a research report on Tuesday, June 23rd. Nineteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $279.83.

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.