Arrowstreet Capital Limited Partnership Acquires 872,644 Shares of ARM Holdings PLC Sponsored ADR $ARM

Key Points

• Arrowstreet Capital dramatically increased its ARM stake in Q1, buying 872,644 additional shares and raising its holdings by 1,203.5% to 945,152 shares worth about $143 million.
• Several other institutional investors also boosted or initiated positions, while institutions and hedge funds now hold 7.53% of ARM’s shares.
• Insider selling has been notable, with executives including Spencer Collins and William Abbey selling shares, even as analysts remain broadly constructive with a Moderate Buy rating and an average price target of $297.65.

Arrowstreet Capital Limited Partnership lifted its stake in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 1,203.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 945,152 shares of the company's stock after acquiring an additional 872,644 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.09% of ARM worth $142,983,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Rathbones Group PLC raised its stake in ARM by 4,638.8% in the fourth quarter. Rathbones Group PLC now owns 500,043 shares of the company's stock valued at $54,660,000 after buying an additional 489,491 shares during the period. Paragon Capital Management Inc. acquired a new position in shares of ARM in the fourth quarter valued at about $826,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of ARM by 34.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,188 shares of the company's stock valued at $2,644,000 after buying an additional 6,232 shares during the period. Partners Group Holding AG acquired a new position in ARM in the 4th quarter valued at $798,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in ARM by 13.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 417,775 shares of the company's stock worth $45,667,000 after purchasing an additional 49,811 shares during the period. Institutional investors and hedge funds own 7.53% of the company's stock.

Insider Activity

In other news, insider Spencer Collins sold 51,961 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $211.73, for a total transaction of $11,001,702.53. Following the completion of the transaction, the insider owned 51,125 shares in the company, valued at approximately $10,824,696.25. This represents a 50.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider William Abbey sold 10,887 shares of the company's stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $224.14, for a total transaction of $2,440,212.18. Following the sale, the insider owned 43,353 shares in the company, valued at $9,717,141.42. The trade was a 20.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 216,049 shares of company stock worth $52,101,605.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Weiss Ratings reissued a "hold (c)" rating on shares of ARM in a report on Friday, July 17th. Susquehanna increased their price objective on ARM from $300.00 to $320.00 and gave the company a "positive" rating in a report on Tuesday. Jefferies Financial Group reiterated a "buy" rating and issued a $320.00 target price on shares of ARM in a report on Monday, July 20th. Guggenheim boosted their price target on shares of ARM from $240.00 to $255.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Finally, Royal Bank Of Canada upped their price objective on shares of ARM from $175.00 to $260.00 and gave the company an "outperform" rating in a research note on Thursday, May 7th. Seventeen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $297.65.

ARM Price Performance

Shares of NASDAQ ARM opened at $260.01 on Friday. The company has a 50-day moving average price of $330.27 and a 200-day moving average price of $208.38. The stock has a market capitalization of $277.71 billion, a P/E ratio of 309.54, a P/E/G ratio of 8.08 and a beta of 3.76. ARM Holdings PLC Sponsored ADR has a 1 year low of $100.02 and a 1 year high of $452.70.

ARM (NASDAQ:ARM - Get Free Report) last announced its earnings results on Wednesday, April 1st. The company reported $0.60 EPS 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%. As a group, equities research analysts anticipate that ARM Holdings PLC Sponsored ADR will post 1.12 earnings per share for the current fiscal year.

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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