Wesbanco Bank Inc. Buys New Stake in ARM Holdings PLC Sponsored ADR $ARM

Wesbanco Bank Inc. bought a new stake in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,112 shares of the company’s stock, valued at approximately $320,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. FWL Investment Management LLC purchased a new stake in ARM during the 2nd quarter worth approximately $34,000. Mcguire Capital Advisors Inc. purchased a new position in shares of ARM in the fourth quarter worth $30,000. Strategic Investment Solutions Inc. IL lifted its stake in shares of ARM by 238.1% during the third 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. Navalign LLC acquired a new stake in shares of ARM during the fourth quarter worth $33,000. Finally, WFA of San Diego LLC purchased a new stake in shares of ARM during the second quarter valued at $49,000. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ARM. Guggenheim increased their price target on shares of ARM from $240.00 to $255.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Sanford C. Bernstein set a $500.00 price objective on shares of ARM in a report on Wednesday, June 17th. Wells Fargo & Company increased their price objective on shares of ARM from $255.00 to $410.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Raymond James Financial restated an “outperform” rating on shares of ARM in a research report on Thursday, May 7th. Finally, Rosenblatt Securities lifted their price objective on ARM from $175.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Nineteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $279.83.

ARM Stock Performance

NASDAQ:ARM opened at $343.58 on Tuesday. The stock has a market capitalization of $366.97 billion, a PE ratio of 409.02, a P/E/G ratio of 12.14 and a beta of 3.77. ARM Holdings PLC Sponsored ADR has a fifty-two week low of $100.02 and a fifty-two week high of $452.70. The company has a fifty day moving average of $295.53 and a two-hundred day moving average of $184.78.

ARM (NASDAQ:ARM) last posted its quarterly earnings data on Wednesday, April 1st. The company reported $0.60 EPS for the quarter. The company had revenue of $1.49 billion during the quarter. ARM had a return on equity of 12.43% and a net margin of 18.37%. Research analysts forecast that ARM Holdings PLC Sponsored ADR will post 1.12 earnings per share for the current year.

Insider Activity

In other news, CFO Jason Child sold 31,920 shares of the company’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 transaction, the chief financial officer owned 174,232 shares of the company’s stock, valued at $39,470,517.28. This represents a 15.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Richard Roy Grisenthwaite sold 24,339 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $209.15, for a total transaction of $5,090,501.85. Following the transaction, the insider directly owned 5,543 shares of the company’s stock, valued at approximately $1,159,318.45. This trade represents a 81.45% decrease in their position. 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 90 days, insiders have sold 248,205 shares of company stock worth $57,741,572.

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.