9,103 Shares in ARM Holdings PLC Sponsored ADR $ARM Bought by Independent Financial Group LLC

Key Points

• Independent Financial Group LLC opened a new position in ARM Holdings during the first quarter, buying 9,103 shares valued at about $1.38 million.
• ARM shares were trading at $267.19, giving the company a market cap of about $285.4 billion; the stock has ranged from $100.02 to $452.70 over the past 52 weeks.
• Analyst sentiment remains mixed but positive overall, with 17 Buy, 8 Hold, and 1 Sell ratings; the average price target is $298.96, while some firms have raised targets as high as $500.

Independent Financial Group LLC acquired a new position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 9,103 shares of the company's stock, valued at approximately $1,377,000.

A number of other institutional investors have also recently bought and sold shares of ARM. Syntax Research Inc. purchased a new position in shares of ARM in the 1st quarter worth about $30,000. FWL Investment Management LLC bought a new position in shares of ARM during the 2nd quarter valued at approximately $34,000. Mcguire Capital Advisors Inc. purchased a new stake in shares of ARM during the 4th quarter worth approximately $30,000. Navalign LLC bought a new stake in shares of ARM in the 4th quarter worth approximately $33,000. Finally, WFA of San Diego LLC purchased a new position in ARM in the second quarter valued at approximately $49,000. Institutional investors own 7.53% of the company's stock.

ARM Stock Performance

Shares of ARM opened at $267.19 on Monday. ARM Holdings PLC Sponsored ADR has a 52-week low of $100.02 and a 52-week high of $452.70. The stock's 50-day simple moving average is $324.14 and its 200 day simple moving average is $203.22. The stock has a market capitalization of $285.38 billion, a price-to-earnings ratio of 318.08, a price-to-earnings-growth ratio of 9.70 and a beta of 3.76.

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

Insider Buying and Selling

In related news, 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 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 legal filing with the Securities & Exchange Commission, which is accessible 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 sale, the chief financial officer directly owned 174,232 shares in the company, valued at $39,470,517.28. This trade represents a 15.48% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 238,906 shares of company stock valued at $56,245,828 in the last three months.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of ARM in a report on Thursday, May 7th. Morgan Stanley reaffirmed an "equal weight" rating and set a $150.00 price target (up from $135.00) on shares of ARM in a research report on Tuesday, April 7th. Sanford C. Bernstein set a $500.00 price target on ARM in a research note on Wednesday, June 17th. TD Cowen increased their price target on ARM from $265.00 to $475.00 and gave the stock a "buy" rating in a research note on Wednesday, June 24th. Finally, New Street Research lowered ARM from a "buy" rating to a "neutral" rating in a report on Thursday, June 18th. 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 data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $298.96.

ARM Company 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.

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