NewEdge Advisors LLC Sells 7,489 Shares of ARM Holdings PLC Sponsored ADR $ARM

Key Points

• NewEdge Advisors reduced its ARM position by 31%, selling 7,489 shares and retaining 16,633 shares valued at approximately $2.52 million. Institutional investors collectively own 7.53% of ARM.
• ARM reported quarterly EPS of $0.45, exceeding estimates by $0.05, while revenue reached $1.29 billion, up 22.4% year over year. Shares opened at $278.65, with a market capitalization of about $297.6 billion.
• Analysts maintain a generally positive outlook, with 18 Buy, seven Hold and one Sell rating, producing a “Moderate Buy” consensus and an average price target of $285.33; however, insiders have sold 157,088 shares worth roughly $39.6 million over the past three months.

NewEdge Advisors LLC cut its holdings in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 31.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,633 shares of the company's stock after selling 7,489 shares during the period. NewEdge Advisors LLC's holdings in ARM were worth $2,516,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Syntax Research Inc. bought a new stake in ARM in the first quarter valued at approximately $30,000. Evelyn Partners Investment Management Services Ltd bought a new position in ARM during the 1st quarter worth approximately $30,000. Mcguire Capital Advisors Inc. bought a new position in ARM during the 4th quarter worth approximately $30,000. Navalign LLC bought a new position in ARM during the 4th quarter worth approximately $33,000. Finally, FWL Investment Management LLC acquired a new position in shares of ARM in the 2nd quarter worth approximately $34,000. 7.53% of the stock is owned by institutional investors.

ARM Stock Performance

Shares of ARM opened at $278.65 on Friday. The firm has a market capitalization of $297.62 billion, a P/E ratio of 287.27, a P/E/G ratio of 8.06 and a beta of 3.90. ARM Holdings PLC Sponsored ADR has a 52 week low of $100.02 and a 52 week high of $452.70. The stock has a 50 day moving average price of $312.94 and a two-hundred day moving average price of $223.93.

ARM (NASDAQ:ARM - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.40 by $0.05. The company had revenue of $1.29 billion during 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 firm's revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.35 earnings per share. On average, equities analysts forecast that ARM Holdings PLC Sponsored ADR will post 1.15 earnings per share for the current year.

Wall Street Analyst Weigh In

ARM has been the topic of several recent analyst reports. TD Cowen dropped their target price on shares of ARM from $475.00 to $350.00 and set a "buy" rating on the stock in a report on Thursday, July 30th. The Goldman Sachs Group lifted their price objective on ARM from $125.00 to $150.00 and gave the stock a "sell" rating in a research report on Thursday, May 7th. Guggenheim reissued a "buy" rating and issued a $255.00 price objective on shares of ARM in a research note on Thursday, July 30th. Mizuho upped their target price on ARM from $425.00 to $500.00 and gave the company an "outperform" rating in a research report on Monday, June 8th. Finally, Sanford C. Bernstein set a $500.00 target price on ARM in a research note on Wednesday, June 17th. Eighteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, ARM has an average rating of "Moderate Buy" and a consensus price target of $285.33.

Insider Activity at ARM

In other news, CFO Jason Child sold 31,920 shares of the firm's stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $226.54, for a total value of $7,231,156.80. Following the completion of the transaction, the chief financial officer directly owned 174,232 shares of the company's stock, valued at $39,470,517.28. This trade represents a 15.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider William Abbey sold 10,887 shares of the firm's stock in a transaction dated 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 completion of the transaction, the insider owned 43,353 shares of the company's stock, valued at approximately $9,717,141.42. This represents a 20.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 157,088 shares of company stock worth $39,612,053 in the last three months.

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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