9,200 Shares in ARM Holdings PLC Sponsored ADR $ARM Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new stake in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 9,200 shares of the company’s stock, valued at approximately $1,392,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Mcguire Capital Advisors Inc. acquired a new stake in ARM during the fourth quarter worth approximately $30,000. Navalign LLC acquired a new position in shares of ARM in the 4th quarter valued at $33,000. FWL Investment Management LLC purchased a new position in shares of ARM in the 2nd quarter valued at $34,000. Motiv8 Investments LLC purchased a new position in shares of ARM in the 4th quarter valued at $38,000. Finally, 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 acquiring an additional 200 shares in the last quarter. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

ARM Stock Down 6.6%

Shares of NASDAQ:ARM opened at $315.28 on Friday. The company has a market cap of $336.74 billion, a P/E ratio of 375.33, a PEG ratio of 12.26 and a beta of 3.76. ARM Holdings PLC Sponsored ADR has a 52 week low of $100.02 and a 52 week high of $452.70. The company has a 50-day moving average price of $305.33 and a 200 day moving average price of $189.00.

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 company 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%. Analysts expect that ARM Holdings PLC Sponsored ADR will post 1.12 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ARM shares. Rosenblatt Securities boosted their price target on shares of ARM from $175.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Mizuho raised their price target on ARM from $425.00 to $500.00 and gave the stock an “outperform” rating in a research note on Monday, June 8th. TD Cowen upped their target price on shares of ARM from $265.00 to $475.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Susquehanna boosted their price target on ARM from $170.00 to $210.00 and gave the company a “positive” rating in a research report on Thursday, April 16th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of ARM in a research note on Thursday, May 7th. Nineteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $279.83.

Insiders Place Their Bets

In other ARM 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 sale, the chief financial officer owned 174,232 shares of the company’s stock, valued at approximately $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 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 the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $8,281,131.36. This trade represents a 24.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 248,205 shares of company stock valued at $57,741,572 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.