TD Asset Management Inc Has $13.53 Million Holdings in ARM Holdings PLC Sponsored ADR $ARM

TD Asset Management Inc lessened its holdings in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 11.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 123,764 shares of the company’s stock after selling 16,280 shares during the quarter. TD Asset Management Inc’s holdings in ARM were worth $13,529,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ARM. Navalign LLC acquired a new stake in ARM during the 4th quarter worth $33,000. FWL Investment Management LLC acquired a new stake in ARM during the 2nd quarter worth $34,000. Strategic Investment Solutions Inc. IL raised its stake in ARM by 238.1% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 284 shares of the company’s stock worth $40,000 after buying an additional 200 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in ARM during the 4th quarter worth $43,000. Finally, WFA of San Diego LLC acquired a new stake in ARM during the 2nd quarter worth $49,000. Institutional investors and hedge funds own 7.53% of the company’s stock.

ARM Price Performance

ARM opened at $346.39 on Tuesday. The business’s 50-day moving average price is $228.47 and its two-hundred day moving average price is $159.59. ARM Holdings PLC Sponsored ADR has a 1 year low of $100.02 and a 1 year high of $427.99. The company has a market capitalization of $369.97 billion, a price-to-earnings ratio of 412.37, a P/E/G ratio of 12.45 and a beta of 3.77.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, April 1st. The company reported $0.60 earnings per share (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%. Sell-side analysts anticipate that ARM Holdings PLC Sponsored ADR will post 1.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Jefferies Financial Group set a $290.00 price objective on ARM in a research note on Thursday, May 21st. Rosenblatt Securities raised their price objective on ARM from $175.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ARM in a research note on Monday, April 20th. Raymond James Financial reaffirmed an “outperform” rating on shares of ARM in a research note on Thursday, May 7th. Finally, Barclays lifted their price target on ARM from $250.00 to $360.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. Twenty analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, ARM presently has an average rating of “Moderate Buy” and an average target price of $230.04.

Insider Buying and Selling

In related news, CFO Jason Child sold 31,920 shares of ARM stock in a transaction dated 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 sale, the chief financial officer owned 174,232 shares of the company’s stock, valued at approximately $39,470,517.28. The trade was a 15.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider William Abbey sold 6,566 shares of ARM stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $402.72, for a total value of $2,644,259.52. Following the completion of the sale, the insider directly owned 20,563 shares in the company, valued at approximately $8,281,131.36. This represents a 24.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 301,338 shares of company stock worth $66,030,158 in the last three months.

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.