Arm Holdings PLC Sponsored ADR $ARM Stock Acquired by Oppenheimer & Co. Inc.

Key Points

• Oppenheimer & Co. increased its ARM position by 28.6% in the third quarter, purchasing 10,151 additional shares and bringing its holdings to 45,623 shares valued at approximately $13.2 million.
• ARM reported quarterly revenue of $1.29 billion and EPS of $0.45, exceeding analyst expectations, while revenue grew 22.4% year over year. The stock opened at $226.60, with a market capitalization of about $242 billion.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $303.32, although ARM’s CFO sold 10,400 shares for $3.12 million under a pre-arranged Rule 10b5-1 trading plan.

Oppenheimer & Co. Inc. grew its position in Arm Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 28.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,623 shares of the company's stock after buying an additional 10,151 shares during the period. Oppenheimer & Co. Inc.'s holdings in ARM were worth $13,215,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Arrowstreet Capital Limited Partnership lifted its holdings in ARM by 1,203.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 945,152 shares of the company's stock valued at $142,983,000 after acquiring an additional 872,644 shares during the last quarter. Janus Henderson Group PLC purchased a new position in ARM in the first quarter worth approximately $116,112,000. Hyperion Asset Management Ltd grew its position in ARM by 36.9% in the third quarter. Hyperion Asset Management Ltd now owns 727,273 shares of the company's stock worth $210,662,000 after acquiring an additional 195,942 shares during the period. Altshuler Shaham Ltd grew its position in ARM by 202.6% in the first quarter. Altshuler Shaham Ltd now owns 478,289 shares of the company's stock worth $72,356,000 after acquiring an additional 320,236 shares during the period. Finally, Sei Investments Co. increased its stake in ARM by 67.5% during the first quarter. Sei Investments Co. now owns 454,220 shares of the company's stock worth $68,714,000 after acquiring an additional 183,045 shares during the last quarter. Institutional investors and hedge funds own 7.53% of the company's stock.

ARM Stock Performance

NASDAQ:ARM opened at $226.60 on Wednesday. Arm Holdings PLC Sponsored ADR has a fifty-two week low of $100.02 and a fifty-two week high of $452.70. The company has a 50 day moving average price of $260.38 and a 200 day moving average price of $226.25. The stock has a market capitalization of $242.03 billion, a P/E ratio of 233.61 and a beta of 3.78.

ARM (NASDAQ:ARM - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.05. The firm had revenue of $1.29 billion during the quarter, compared to analysts' expectations of $1.26 billion. During the same period in the previous year, the firm earned $0.35 EPS. The firm's revenue for the quarter was up 22.4% compared to the same quarter last year. Research analysts forecast that Arm Holdings PLC Sponsored ADR will post 1.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

ARM has been the topic of a number of research analyst reports. Morgan Stanley lifted their target price on ARM from $202.00 to $212.00 and gave the company an "equal weight" rating in a research report on Thursday, July 30th. Jefferies Financial Group reiterated a "buy" rating and set a $320.00 price target on shares of ARM in a report on Monday, July 20th. KeyCorp raised their price objective on ARM from $300.00 to $430.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 14th. Benchmark initiated coverage on shares of ARM in a report on Thursday, July 16th. They issued a "hold" rating on the stock. Finally, New Street Research upgraded shares of ARM from a "neutral" rating to a "buy" rating and set a $260.00 price objective on the stock in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $303.32.

Insider Activity at ARM

In other news, CFO Jason Child sold 10,400 shares of ARM stock in a transaction on Monday, September 21st. The stock was sold at an average price of $300.00, for a total value of $3,120,000.00. Following the completion of the sale, the chief financial officer directly owned 153,442 shares of the company's stock, valued at approximately $46,032,600. The trade was a 6.35% decrease in their ownership of the stock. 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.

ARM Profile

Arm Holdings plc NASDAQ: ARM is a semiconductor and software design company that develops central processing unit (CPU) architectures and related intellectual property. Rather than manufacturing chips itself, Arm licenses its designs and instruction-set architectures to semiconductor companies and technology manufacturers, which incorporate them into their own products.

The company's offerings include CPU processor cores, graphics processing units through its Mali product family, system IP, development tools and software.

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