ARM Holdings PLC Sponsored ADR $ARM Shares Sold by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management reduced its ARM stake by 20.2% in the fourth quarter, selling 5,451 shares and leaving it with 21,522 shares valued at about $2.47 million.
• Several analysts remain upbeat on ARM, with recent price-target hikes from TD Cowen, Wells Fargo, and Mizuho; the stock now has a consensus rating of Moderate Buy and an average target of $199.61.
• ARM reported strong quarterly results, including $0.60 EPS and $1.49 billion in revenue, while insiders also sold shares recently, including CEO Rene A. Haas and CFO Jason Child under pre-arranged trading plans.

Mitsubishi UFJ Asset Management Co. Ltd. cut its position in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 20.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,522 shares of the company's stock after selling 5,451 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.'s holdings in ARM were worth $2,469,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pacific Heights Asset Management LLC raised its holdings in ARM by 32.1% during the third quarter. Pacific Heights Asset Management LLC now owns 185,000 shares of the company's stock worth $26,176,000 after purchasing an additional 45,000 shares during the last quarter. Paragon Capital Management Inc. acquired a new position in ARM during the fourth quarter worth $826,000. Lansdowne Partners UK LLP acquired a new position in ARM during the third quarter worth $8,486,000. Hyperion Asset Management Ltd acquired a new position in ARM during the third quarter worth $202,980,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in ARM by 34.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,188 shares of the company's stock worth $2,644,000 after purchasing an additional 6,232 shares during the last quarter. 7.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ARM has been the subject of several research reports. TD Cowen lifted their price objective on ARM from $165.00 to $265.00 and gave the stock a "buy" rating in a report on Thursday. Morgan Stanley reissued 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. Wells Fargo & Company raised their price target on ARM from $220.00 to $255.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. Mizuho raised their price target on ARM from $230.00 to $255.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 6th. Finally, Benchmark reissued a "hold" rating on shares of ARM in a research report on Thursday, February 5th. Nineteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, ARM presently has an average rating of "Moderate Buy" and a consensus price target of $199.61.

ARM Stock Performance

ARM stock opened at $212.65 on Tuesday. The stock has a fifty day moving average of $157.53 and a two-hundred day moving average of $139.01. The company has a market capitalization of $224.67 billion, a price-to-earnings ratio of 253.15, a PEG ratio of 7.35 and a beta of 3.40. ARM Holdings PLC Sponsored ADR has a fifty-two week low of $100.02 and a fifty-two week high of $239.50.

ARM (NASDAQ:ARM - Get Free Report) 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 return on equity of 12.43% and a net margin of 18.37%. On average, analysts forecast that ARM Holdings PLC Sponsored ADR will post 1.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Rene A. Haas sold 9,299 shares of ARM stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $160.85, for a total value of $1,495,744.15. Following the completion of the sale, the chief executive officer owned 273,680 shares of the company's stock, valued at $44,021,428. The trade was a 3.29% decrease in their ownership of the stock. The sale was disclosed in a document filed 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, CFO Jason Child sold 21,280 shares of ARM stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $180.00, for a total value of $3,830,400.00. Following the completion of the sale, the chief financial officer directly owned 153,426 shares of the company's stock, valued at approximately $27,616,680. This represents a 12.18% 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. In the last ninety days, insiders sold 83,712 shares of company stock valued at $13,614,730.

About ARM

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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