Sona Asset Management US LLC Acquires New Holdings in ARM Holdings PLC Sponsored ADR $ARM

Key Points

• Sona Asset Management acquired 10,000 ARM shares worth approximately $1.5 million during the first quarter. Several other institutional investors also increased their positions, though institutional ownership remains relatively low at 7.53%.
• ARM insiders sold 216,049 shares valued at about $52.1 million over the past quarter, including substantial sales by William Abbey and Charlotte Claire Eaton.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $297.65, despite recent target-price reductions and ARM’s high valuation and volatility.

Sona Asset Management US LLC bought a new stake in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 10,000 shares of the company's stock, valued at approximately $1,513,000.

Other large investors have also added to or reduced their stakes in the company. Morgan Stanley boosted its holdings in shares of ARM by 1.2% in the 4th quarter. Morgan Stanley now owns 3,783,006 shares of the company's stock valued at $413,521,000 after buying an additional 45,314 shares in the last quarter. Invesco Ltd. grew its position in shares of ARM by 36.9% in the 4th quarter. Invesco Ltd. now owns 2,426,850 shares of the company's stock worth $265,279,000 after buying an additional 654,727 shares during the last quarter. Coatue Management LLC raised its stake in shares of ARM by 1.8% during the 4th quarter. Coatue Management LLC now owns 2,300,000 shares of the company's stock worth $251,413,000 after acquiring an additional 40,174 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of ARM by 41.6% during the 4th quarter. Wellington Management Group LLP now owns 2,149,159 shares of the company's stock worth $234,925,000 after acquiring an additional 631,576 shares in the last quarter. Finally, Schroder Investment Management Group lifted its position in ARM by 11.0% during the fourth quarter. Schroder Investment Management Group now owns 1,891,310 shares of the company's stock valued at $206,739,000 after acquiring an additional 187,035 shares during the last quarter. 7.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider William Abbey sold 6,566 shares of the business's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $402.72, for a total value of $2,644,259.52. Following the completion of the transaction, the insider owned 20,563 shares of the company's stock, valued at $8,281,131.36. The trade was a 24.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Charlotte Claire Eaton sold 7,805 shares of the company's stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $290.01, for a total value of $2,263,528.05. Following the completion of the sale, the insider owned 5,000 shares in the company, valued at $1,450,050. The trade was a 60.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 216,049 shares of company stock valued at $52,101,605 over the last quarter.

Wall Street Analyst Weigh In

ARM has been the subject of several recent analyst reports. Wells Fargo & Company lowered their target price on shares of ARM from $410.00 to $350.00 and set an "overweight" rating for the company in a research note on Wednesday, July 22nd. Benchmark began coverage on ARM in a research report on Thursday, July 16th. They set a "hold" rating on the stock. The Goldman Sachs Group increased their price objective on ARM from $125.00 to $150.00 and gave the company a "sell" rating in a report on Thursday, May 7th. Raymond James Financial reissued an "outperform" rating on shares of ARM in a research report on Thursday, May 7th. Finally, Morgan Stanley restated an "equal weight" rating and set a $150.00 target price (up from $135.00) on shares of ARM in a research note on Tuesday, April 7th. Seventeen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, ARM presently has a consensus rating of "Moderate Buy" and a consensus target price of $297.65.

ARM Stock Performance

ARM opened at $260.01 on Monday. ARM Holdings PLC Sponsored ADR has a 12-month low of $100.02 and a 12-month high of $452.70. The firm has a 50 day moving average of $330.27 and a two-hundred day moving average of $209.03. The firm has a market capitalization of $277.71 billion, a PE ratio of 309.54, a P/E/G ratio of 8.08 and a beta of 3.76.

ARM (NASDAQ:ARM - Get Free Report) last released its quarterly earnings data on Wednesday, April 1st. The company reported $0.60 EPS for the quarter. ARM had a net margin of 18.37% and a return on equity of 12.43%. The business had revenue of $1.49 billion for the quarter. As a group, analysts predict 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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