Bank of Marin Acquires New Position in ARM Holdings PLC Sponsored ADR $ARM

Key Points

• Bank of Marin opened a new position in Arm Holdings during the fourth quarter, buying 4,685 shares worth about $512,000.
• Several other institutional investors also increased their ARM stakes, while hedge funds and institutions now own about 7.53% of the company.
• Analyst sentiment remains upbeat: ARM has a Moderate Buy consensus with an average target price of $245.04, even as recent insider sales have totaled more than 301,000 shares in the last quarter.

Bank of Marin acquired a new stake in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,685 shares of the company's stock, valued at approximately $512,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Morgan Stanley lifted its stake in shares of ARM by 1.2% in the fourth quarter. Morgan Stanley now owns 3,783,006 shares of the company's stock valued at $413,521,000 after purchasing an additional 45,314 shares during the period. Schroder Investment Management Group lifted its stake in shares of ARM by 11.0% in the fourth quarter. Schroder Investment Management Group now owns 1,891,310 shares of the company's stock valued at $206,739,000 after purchasing an additional 187,035 shares during the period. Capital Research Global Investors lifted its stake in shares of ARM by 5.1% in the fourth quarter. Capital Research Global Investors now owns 1,805,110 shares of the company's stock valued at $197,332,000 after purchasing an additional 86,978 shares during the period. Bank of America Corp DE lifted its stake in shares of ARM by 22.1% in the third quarter. Bank of America Corp DE now owns 1,802,973 shares of the company's stock valued at $255,103,000 after purchasing an additional 326,230 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of ARM by 28.2% in the third quarter. Invesco Ltd. now owns 1,772,123 shares of the company's stock valued at $250,738,000 after purchasing an additional 390,217 shares during the period. Institutional investors and hedge funds own 7.53% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. HSBC upgraded shares of ARM from a "reduce" rating to a "buy" rating and raised their price objective for the company from $90.00 to $205.00 in a research note on Friday, March 20th. Morgan Stanley reiterated an "equal weight" rating and issued a $150.00 price objective (up from $135.00) on shares of ARM in a research note on Tuesday, April 7th. Jefferies Financial Group set a $290.00 price objective on shares of ARM in a research note on Thursday, May 21st. Mizuho raised their price objective on shares of ARM from $425.00 to $500.00 and gave the company an "outperform" rating in a research note on Monday, June 8th. Finally, Bank of America raised their price objective on shares of ARM from $245.00 to $335.00 and gave the company a "neutral" rating in a research note on Thursday, June 11th. Twenty investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, ARM currently has an average rating of "Moderate Buy" and an average target price of $245.04.

Insider Activity at ARM

In other news, CAO Laura Kathleen Bartels sold 11,306 shares of ARM stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $392.70, for a total transaction of $4,439,866.20. Following the completion of the sale, the chief accounting officer directly owned 12,135 shares in the company, valued at $4,765,414.50. The trade was a 48.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Jason Child sold 31,920 shares of ARM stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $226.54, for a total transaction of $7,231,156.80. Following the sale, the chief financial officer owned 174,232 shares of the company's stock, valued at approximately $39,470,517.28. This trade represents a 15.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 301,338 shares of company stock valued at $66,030,158 in the last quarter.

ARM Trading Down 3.9%

Shares of ARM opened at $396.34 on Wednesday. The stock has a market cap of $423.32 billion, a P/E ratio of 471.83, a PEG ratio of 14.98 and a beta of 3.78. The company has a 50-day moving average of $254.04 and a two-hundred day moving average of $169.20. ARM Holdings PLC Sponsored ADR has a 12-month low of $100.02 and a 12-month high of $428.60.

ARM (NASDAQ:ARM - Get Free Report) last announced its earnings results on Wednesday, April 1st. The company reported $0.60 earnings per share (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, analysts forecast that ARM Holdings PLC Sponsored ADR will post 1.12 EPS 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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