EverSource Wealth Advisors LLC Lowers Position in ARM Holdings PLC Sponsored ADR $ARM

Key Points

• EverSource Wealth Advisors cut its ARM Holdings stake by 59.5% in the fourth quarter, selling 5,658 shares and leaving it with 3,851 shares worth about $421,000.
• ARM stock fell 5.8% and was trading around $302.71, near its 52-week high of $325.00, while the company’s market cap stood at about $319.82 billion.
• Despite some mixed analyst moves, ARM still has a Moderate Buy consensus rating, with 20 Buy ratings and a consensus price target of $208.79; insiders have also sold shares recently, including major sales by William Abbey and Richard Roy Grisenthwaite.

EverSource Wealth Advisors LLC cut its holdings in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 59.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,851 shares of the company's stock after selling 5,658 shares during the quarter. EverSource Wealth Advisors LLC's holdings in ARM were worth $421,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of ARM. Amundi grew its holdings in shares of 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 period. Empowered Funds LLC grew its holdings in shares of 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 purchasing an additional 1,094 shares during the period. Schnieders Capital Management LLC. grew its holdings 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 worth $393,000 after purchasing an additional 200 shares during the period. Bank of Nova Scotia purchased a new position in shares of ARM during the 2nd quarter worth $556,000. Finally, State Street Corp grew its holdings in shares of ARM by 14.7% during the 2nd quarter. State Street Corp now owns 441,445 shares of the company's stock worth $71,399,000 after purchasing an additional 56,656 shares during the period. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

ARM Stock Down 5.8%

ARM opened at $302.71 on Thursday. The business's 50 day moving average is $190.61 and its two-hundred day moving average is $146.68. ARM Holdings PLC Sponsored ADR has a 52 week low of $100.02 and a 52 week high of $325.00. The firm has a market cap of $319.82 billion, a price-to-earnings ratio of 360.37, a price-to-earnings-growth ratio of 11.67 and a beta of 3.40.

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

Insider Buying and Selling

In other ARM news, insider William Abbey sold 10,887 shares of ARM stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $224.14, for a total value of $2,440,212.18. Following the transaction, the insider directly owned 43,353 shares in the company, valued at approximately $9,717,141.42. This trade represents a 20.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Richard Roy Grisenthwaite sold 24,339 shares of ARM stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $209.15, for a total value of $5,090,501.85. Following the completion of the transaction, the insider owned 5,543 shares in the company, valued at $1,159,318.45. This trade represents a 81.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 279,266 shares of company stock worth $57,502,031.

Analyst Ratings Changes

ARM has been the subject of a number of research analyst reports. UBS Group lowered their price target on ARM from $175.00 to $170.00 and set a "buy" rating for the company in a report on Thursday, February 5th. Royal Bank Of Canada increased their price target on ARM from $175.00 to $260.00 and gave the stock an "outperform" rating in a report on Thursday, May 7th. Rosenblatt Securities raised their target price on ARM from $175.00 to $270.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Evercore lowered their target price on ARM from $215.00 to $170.00 and set an "outperform" rating for the company in a report on Thursday, February 5th. Finally, Needham & Company LLC lifted their price objective on ARM from $200.00 to $255.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Twenty equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $208.79.

ARM Company 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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