Kestra Advisory Services LLC Buys 2,697 Shares of ARM Holdings PLC Sponsored ADR $ARM

Kestra Advisory Services LLC increased its stake in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 19.1% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 16,840 shares of the company’s stock after purchasing an additional 2,697 shares during the period. Kestra Advisory Services LLC’s holdings in ARM were worth $2,548,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. increased its position in shares of ARM by 146.3% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 90,773 shares of the company’s stock valued at $13,732,000 after buying an additional 53,914 shares during the period. DSM Capital Partners LLC grew its stake in ARM by 5.2% during the first quarter. DSM Capital Partners LLC now owns 2,730 shares of the company’s stock valued at $413,000 after acquiring an additional 134 shares in the last quarter. Greenwood Capital Associates LLC bought a new stake in ARM during the 1st quarter worth approximately $2,081,000. Swedbank AB increased its holdings in ARM by 15.7% during the 1st quarter. Swedbank AB now owns 421,000 shares of the company’s stock worth $63,689,000 after acquiring an additional 57,000 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in ARM in the 1st quarter worth approximately $3,589,000. Institutional investors own 7.53% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on ARM. Needham & Company LLC reissued a “buy” rating and issued a $400.00 price target on shares of ARM in a report on Tuesday, June 16th. Bank of America upped their price target on shares of ARM from $335.00 to $460.00 and gave the stock a “neutral” rating in a report on Tuesday, June 23rd. Wells Fargo & Company increased their price objective on ARM from $255.00 to $410.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Morgan Stanley reissued an “equal weight” rating and set a $150.00 price objective (up from $135.00) on shares of ARM in a research note on Tuesday, April 7th. Finally, Rosenblatt Securities upped their target price on ARM from $175.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Seventeen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $298.96.

ARM Trading Up 2.0%

Shares of NASDAQ ARM opened at $267.19 on Friday. The stock’s 50-day moving average is $324.14 and its 200 day moving average is $202.57. The stock has a market cap of $285.38 billion, a price-to-earnings ratio of 318.08, a P/E/G ratio of 9.70 and a beta of 3.76. ARM Holdings PLC Sponsored ADR has a 1-year low of $100.02 and a 1-year high of $452.70.

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

Insider Buying and Selling at ARM

In related news, insider William Abbey sold 6,566 shares of ARM 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 transaction, the insider owned 20,563 shares in the company, valued at $8,281,131.36. This trade represents a 24.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jason Child sold 31,920 shares of ARM stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $226.54, for a total transaction of $7,231,156.80. Following the completion of the transaction, the chief financial officer owned 174,232 shares in the company, valued at approximately $39,470,517.28. The trade was a 15.48% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 238,906 shares of company stock valued at $56,245,828.

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.