Whittier Trust Co. of Nevada Inc. Acquires New Position in ARM Holdings PLC Sponsored ADR $ARM

Key Points

• Whittier Trust Co. of Nevada opened a new position in ARM Holdings during the first quarter, buying 24,126 shares valued at about $3.59 million.
• ARM continues to attract significant institutional interest, with several other firms adding to or initiating stakes; overall, 7.53% of the stock is owned by institutional investors and hedge funds.
• Analysts remain broadly positive on ARM despite recent insider selling and a sharp share-price move; the stock has a Moderate Buy consensus, with recent price targets raised as high as $475.

Whittier Trust Co. of Nevada Inc. purchased a new stake in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 24,126 shares of the company's stock, valued at approximately $3,589,000.

A number of other institutional investors have also made changes to their positions in ARM. Rathbones Group PLC boosted its holdings in ARM by 4,638.8% during the fourth quarter. Rathbones Group PLC now owns 500,043 shares of the company's stock worth $54,660,000 after buying an additional 489,491 shares during the last quarter. Paragon Capital Management Inc. bought a new stake in shares of ARM in the 4th quarter valued at about $826,000. Lansdowne Partners UK LLP acquired a new stake in shares of ARM in the 3rd quarter valued at approximately $8,486,000. Hyperion Asset Management Ltd acquired a new stake in shares of ARM in the 3rd quarter valued at approximately $202,980,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in ARM by 34.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,188 shares of the company's stock worth $2,644,000 after acquiring an additional 6,232 shares during the last quarter. 7.53% of the stock is owned by institutional investors and hedge funds.

ARM Price Performance

ARM traded down $22.45 during trading on Tuesday, reaching $299.79. The company had a trading volume of 2,429,855 shares, compared to its average volume of 8,880,647. ARM Holdings PLC Sponsored ADR has a 12 month low of $100.02 and a 12 month high of $452.70. The business's fifty day moving average price is $307.70 and its 200 day moving average price is $190.34. The company has a market cap of $320.20 billion, a P/E ratio of 356.89, a PEG ratio of 11.45 and a beta of 3.76.

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. The firm had revenue of $1.49 billion during the quarter. ARM had a net margin of 18.37% and a return on equity of 12.43%. As a group, sell-side analysts predict that ARM Holdings PLC Sponsored ADR will post 1.12 EPS for the current fiscal year.

Insider Activity at ARM

In related 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 sale, the insider owned 43,353 shares of the company's stock, valued at approximately $9,717,141.42. This trade represents a 20.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jason Child sold 31,920 shares of the business's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $226.54, for a total value of $7,231,156.80. Following the completion of the sale, the chief financial officer owned 174,232 shares in the company, valued at $39,470,517.28. The trade was a 15.48% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 248,205 shares of company stock valued at $57,741,572 over the last ninety days.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ARM. TD Cowen boosted their price objective on shares of ARM from $265.00 to $475.00 and gave the company a "buy" rating in a report on Wednesday, June 24th. Needham & Company LLC reissued a "buy" rating and set a $400.00 price target on shares of ARM in a research report on Tuesday, June 16th. Barclays boosted their price target on shares of ARM from $250.00 to $360.00 and gave the company an "overweight" rating in a report on Monday, June 1st. Weiss Ratings restated a "hold (c)" rating on shares of ARM in a research report on Monday, April 20th. Finally, UBS Group raised their price objective on ARM from $260.00 to $470.00 and gave the stock a "buy" rating in a research note on Wednesday, June 24th. Nineteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, ARM currently has a consensus rating of "Moderate Buy" and an average target price of $279.83.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.