Arm Holdings PLC Sponsored ADR $ARM Shares Newly Purchased by Fig Financial Advisory Services Inc. ADV

Key Points

• Fig Financial Advisory Services acquired 3,694 Arm shares worth approximately $1.07 million during the third quarter. Several other investment firms also initiated positions, while institutional investors collectively own 7.53% of ARM.
• Arm CFO Jason Child sold 10,400 shares at an average price of $300 for total proceeds of $3.12 million under a pre-arranged Rule 10b5-1 trading plan.
• Analysts maintain a generally positive view, with ARM carrying a “Moderate Buy” consensus rating and an average price target of $303.32. The company recently beat quarterly earnings and revenue estimates, with revenue rising 22.4% year over year.

Fig Financial Advisory Services Inc. ADV acquired a new stake in Arm Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,694 shares of the company's stock, valued at approximately $1,070,000.

Several other hedge funds have also recently modified their holdings of the company. Syntax Research Inc. bought a new position in shares of ARM in the first quarter valued at approximately $30,000. Evelyn Partners Investment Management Services Ltd purchased a new stake in shares of ARM during the first quarter valued at approximately $30,000. Allied Private Wealth LLC bought a new stake in ARM during the second quarter worth $71,000. CX Institutional bought a new stake in ARM during the third quarter worth $58,000. Finally, Cassaday & Co Wealth Management LLC bought a new stake in ARM during the first quarter worth $40,000. Institutional investors own 7.53% of the company's stock.

Insider Activity

In related news, CFO Jason Child sold 10,400 shares of the company's stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $300.00, for a total transaction of $3,120,000.00. Following the sale, the chief financial officer directly owned 153,442 shares in the company, valued at approximately $46,032,600. This represents a 6.35% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Upgrades and Downgrades

ARM has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered their target price on ARM from $350.00 to $280.00 and set an "overweight" rating on the stock in a research note on Thursday, July 30th. Weiss Ratings restated a "hold (c)" rating on shares of ARM in a research report on Friday, July 17th. Raymond James Financial restated an "outperform" rating and set a $166.00 price objective on shares of ARM in a report on Tuesday, August 25th. Bank of America reaffirmed a "neutral" rating and issued a $335.00 price objective (up from $245.00) on shares of ARM in a research report on Thursday, July 30th. Finally, Rosenblatt Securities dropped their target price on shares of ARM from $270.00 to $250.00 and set a "buy" rating on the stock in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, ARM presently has an average rating of "Moderate Buy" and an average price target of $303.32.

ARM Stock Performance

Shares of ARM opened at $294.37 on Thursday. Arm Holdings PLC Sponsored ADR has a fifty-two week low of $100.02 and a fifty-two week high of $452.70. The business has a 50-day moving average of $268.93 and a 200 day moving average of $264.86. The firm has a market cap of $314.41 billion, a P/E ratio of 303.48, a price-to-earnings-growth ratio of 8.97 and a beta of 3.78.

ARM (NASDAQ:ARM - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.40 by $0.05. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.26 billion. ARM had a net margin of 20.25% and a return on equity of 12.24%. The company's revenue was up 22.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.35 earnings per share. As a group, research analysts predict that Arm Holdings PLC Sponsored ADR will post 1.15 earnings per share for the current fiscal year.

ARM Profile

Arm Holdings plc NASDAQ: ARM is a semiconductor and software design company that develops intellectual property used to create energy-efficient computing products. Arm does not generally manufacture chips; instead, it licenses processor architectures, CPU cores, graphics technologies and related system IP to semiconductor companies and original equipment manufacturers, which incorporate them into their own products.

The company's offerings include the Cortex family of CPUs for mobile, consumer, automotive and embedded applications; Neoverse platforms for cloud and data-center infrastructure; Mali graphics processing units; and Ethos neural processing units designed for artificial intelligence and machine-learning workloads.

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