Azimuth Capital Investment Management LLC Makes New Investment in Arm Holdings PLC Sponsored ADR $ARM

Key Points

• Azimuth Capital Investment Management acquired 24,806 ARM shares in the second quarter, valued at approximately $8.8 million. Other institutional investors also increased or initiated positions, though institutions own 7.53% of the stock.
• ARM’s latest quarterly results exceeded expectations, with EPS of $0.45 versus the $0.40 estimate and revenue of $1.29 billion, up 22.4% year over year.
• Analysts maintain a broadly positive view, with a consensus “Moderate Buy” rating and average price target of $305.12, while CFO Jason Child sold 10,400 shares under a pre-arranged Rule 10b5-1 plan.

Azimuth Capital Investment Management LLC bought a new stake in Arm Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 24,806 shares of the company's stock, valued at approximately $8,795,000.

A number of other large investors also recently made changes to their positions in ARM. William John Sempolinski purchased a new stake in ARM in the 2nd quarter valued at about $639,000. Raiffeisen Bank International AG purchased a new position in shares of ARM in the 2nd quarter worth approximately $610,000. Knollwood Investment Advisory LLC bought a new position in shares of ARM in the second quarter valued at approximately $232,000. TD Waterhouse Canada Inc. increased its position in shares of ARM by 0.5% during the second quarter. TD Waterhouse Canada Inc. now owns 18,674 shares of the company's stock valued at $6,309,000 after acquiring an additional 102 shares during the last quarter. Finally, Concurrent Investment Advisors LLC increased its position in shares of ARM by 239.3% during the second quarter. Concurrent Investment Advisors LLC now owns 30,570 shares of the company's stock valued at $10,839,000 after acquiring an additional 21,559 shares during the last quarter. 7.53% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Jason Child sold 10,400 shares of ARM stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $255.33, for a total transaction of $2,655,432.00. Following the completion of the sale, the chief financial officer owned 163,832 shares in the company, valued at approximately $41,831,224.56. This trade represents a 5.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ARM Stock Up 3.9%

ARM stock opened at $252.09 on Friday. The stock has a 50-day simple moving average of $273.23 and a two-hundred day simple moving average of $238.12. Arm Holdings PLC Sponsored ADR has a twelve month low of $100.02 and a twelve month high of $452.70. The firm has a market capitalization of $269.25 billion, a PE ratio of 259.89, a PEG ratio of 7.47 and a beta of 3.89.

ARM (NASDAQ:ARM - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.05. The firm 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 for the quarter was up 22.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.35 earnings per share. On average, equities research analysts anticipate that Arm Holdings PLC Sponsored ADR will post 1.15 EPS for the current fiscal year.

Analysts Set New Price Targets

ARM has been the topic of several research analyst reports. UBS Group cut their price objective on ARM from $360.00 to $320.00 and set a "buy" rating on the stock in a research report on Thursday, July 30th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of ARM in a research report on Friday, July 17th. Sanford C. Bernstein set a $500.00 price target on shares of ARM in a report on Wednesday, June 17th. Bank of America restated a "neutral" rating on shares of ARM in a research report on Thursday, July 30th. Finally, Rosenblatt Securities decreased their price objective on shares of ARM from $270.00 to $250.00 and set a "buy" rating for the company in a report on Friday, July 31st. Eighteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, ARM currently has a consensus rating of "Moderate Buy" and an average target price of $305.12.

ARM Profile

Arm Holdings 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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