Employees Provident Fund Board Buys Shares of 1,100,000 ARM Holdings PLC Sponsored ADR $ARM

Key Points

• Employees Provident Fund Board initiated a new position in ARM Holdings during the fourth quarter, buying 1.1 million shares valued at about $120.2 million. The stake represented roughly 0.10% of ARM at quarter-end.
• ARM’s stock has been highly volatile but strong, recently opening at $439.46 with a 12-month range of $100.02 to $452.70. The company now has a market cap of about $469.4 billion.
• Analyst sentiment remains constructive overall, with 19 Buy ratings, seven Hold ratings, and one Sell rating. Wall Street’s average target price for ARM is $253.38, even as several firms recently raised their price targets.

Employees Provident Fund Board bought a new stake in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,100,000 shares of the company's stock, valued at approximately $120,241,000. Employees Provident Fund Board owned 0.10% of ARM at the end of the most recent quarter.

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

ARM Stock Performance

Shares of ARM stock opened at $439.46 on Friday. ARM Holdings PLC Sponsored ADR has a 12-month low of $100.02 and a 12-month high of $452.70. The stock has a market cap of $469.38 billion, a PE ratio of 523.17, a price-to-earnings-growth ratio of 15.96 and a beta of 3.78. The company has a 50-day moving average of $271.16 and a two-hundred day moving average of $175.21.

ARM (NASDAQ:ARM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 1st. The company reported $0.60 EPS for the quarter. The business had revenue of $1.49 billion for the quarter. ARM had a return on equity of 12.43% and a net margin of 18.37%. On average, sell-side analysts forecast that ARM Holdings PLC Sponsored ADR will post 1.12 EPS for the current fiscal year.

Insider Activity

In other ARM news, insider Richard Roy Grisenthwaite sold 24,339 shares of the business's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $209.15, for a total transaction of $5,090,501.85. Following the sale, the insider directly owned 5,543 shares in the company, valued at approximately $1,159,318.45. The trade was a 81.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Laura Kathleen Bartels sold 11,306 shares of the company's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $392.70, for a total value 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. This trade represents a 48.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 301,338 shares of company stock valued at $66,030,158 in the last 90 days.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group boosted their price target on shares of ARM from $125.00 to $150.00 and gave the stock a "sell" rating in a research note on Thursday, May 7th. Guggenheim lifted their price objective on ARM from $240.00 to $255.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Morgan Stanley reiterated an "equal weight" rating and set a $150.00 target price (up from $135.00) on shares of ARM in a research report on Tuesday, April 7th. Bank of America boosted their target price on ARM from $245.00 to $335.00 and gave the stock a "neutral" rating in a research report on Thursday, June 11th. Finally, Susquehanna increased their target price on ARM from $170.00 to $210.00 and gave the stock a "positive" rating in a research note on Thursday, April 16th. Nineteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $253.38.

ARM Profile

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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