Diversify Wealth Management LLC Purchases New Shares in ARM Holdings PLC Sponsored ADR $ARM

Key Points

• Diversify Wealth Management opened a new position in ARM Holdings during the first quarter, buying 67,852 shares valued at about $10.3 million.
• Institutional interest in ARM remains active, with several funds adding shares and 7.53% of the stock now owned by hedge funds and other institutional investors.
• ARM shares traded lower on Friday despite its large market cap and high valuation, while analysts still largely remain bullish with a Moderate Buy consensus and a target price of $279.83.

Diversify Wealth Management LLC acquired a new position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 67,852 shares of the company's stock, valued at approximately $10,265,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ARM. Amundi increased its holdings in ARM by 24.8% during the 1st quarter. Amundi now owns 11,804 shares of the company's stock worth $1,153,000 after purchasing an additional 2,345 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of ARM by 28.8% during the 1st quarter. Empowered Funds LLC now owns 4,887 shares of the company's stock valued at $522,000 after buying an additional 1,094 shares during the last quarter. Schnieders Capital Management LLC. boosted its stake in shares of ARM by 9.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 2,430 shares of the company's stock valued at $393,000 after buying an additional 200 shares during the last quarter. Bank of Nova Scotia acquired a new stake in shares of ARM during the second quarter worth approximately $556,000. Finally, State Street Corp grew its position in shares of ARM by 14.7% during the second quarter. State Street Corp now owns 441,445 shares of the company's stock worth $71,399,000 after buying an additional 56,656 shares in the last quarter. 7.53% of the stock is owned by hedge funds and other institutional investors.

ARM Stock Performance

Shares of NASDAQ ARM traded down $4.48 during trading on Friday, hitting $323.39. The company had a trading volume of 2,761,571 shares, compared to its average volume of 9,361,516. The company has a market cap of $345.41 billion, a P/E ratio of 384.99, a PEG ratio of 11.74 and a beta of 3.76. The business's 50-day moving average is $318.07 and its 200 day moving average is $196.78. ARM Holdings PLC Sponsored ADR has a 52 week low of $100.02 and a 52 week 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 business 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, research analysts expect that ARM Holdings PLC Sponsored ADR will post 1.12 EPS for the current year.

Insider Activity

In related news, insider William Abbey sold 6,566 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $402.72, for a total transaction of $2,644,259.52. Following the completion of the sale, the insider directly owned 20,563 shares in the company, valued at approximately $8,281,131.36. This trade represents a 24.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Charlotte Claire Eaton sold 4,000 shares of ARM stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $282.77, for a total transaction of $1,131,080.00. Following the sale, the insider directly owned 7,805 shares of the company's stock, valued at $2,207,019.85. This trade represents a 33.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 248,205 shares of company stock valued at $57,741,572 in the last 90 days.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Guggenheim lifted their price target on shares of ARM from $240.00 to $255.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Weiss Ratings reissued a "hold (c)" rating on shares of ARM in a report on Monday, April 20th. Barclays lifted their target price on ARM from $250.00 to $360.00 and gave the company an "overweight" rating in a research note on Monday, June 1st. Sanford C. Bernstein set a $500.00 price target on ARM in a report on Wednesday, June 17th. Finally, Rosenblatt Securities upped their price objective on shares of ARM from $175.00 to $270.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Nineteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, ARM has a consensus rating of "Moderate Buy" and a consensus target price of $279.83.

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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