CacheTech Inc. Raises Stock Holdings in ARM Holdings PLC Sponsored ADR $ARM

CacheTech Inc. lifted its holdings in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 9.1% in the first quarter, HoldingsChannel.com reports. The fund owned 28,011 shares of the company’s stock after acquiring an additional 2,346 shares during the period. CacheTech Inc.’s holdings in ARM were worth $4,238,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Morgan Stanley boosted its position in ARM by 1.2% in the fourth quarter. Morgan Stanley now owns 3,783,006 shares of the company’s stock worth $413,521,000 after purchasing an additional 45,314 shares during the last quarter. Invesco Ltd. increased its position in shares of ARM by 36.9% during the 4th quarter. Invesco Ltd. now owns 2,426,850 shares of the company’s stock valued at $265,279,000 after purchasing an additional 654,727 shares during the last quarter. Coatue Management LLC increased its position in shares of ARM by 1.8% during the 4th quarter. Coatue Management LLC now owns 2,300,000 shares of the company’s stock valued at $251,413,000 after purchasing an additional 40,174 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of ARM by 41.6% during the 4th quarter. Wellington Management Group LLP now owns 2,149,159 shares of the company’s stock worth $234,925,000 after purchasing an additional 631,576 shares during the period. Finally, Schroder Investment Management Group raised its stake in shares of ARM by 11.0% during the 4th quarter. Schroder Investment Management Group now owns 1,891,310 shares of the company’s stock worth $206,739,000 after purchasing an additional 187,035 shares during the period. 7.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ARM

In other ARM news, CFO Jason Child sold 31,920 shares of the stock in a transaction dated Wednesday, May 20th. The shares were 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 $39,470,517.28. This trade represents a 15.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Laura Kathleen Bartels sold 11,306 shares of ARM stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $392.70, for a total transaction of $4,439,866.20. Following the completion of the transaction, the chief accounting officer owned 12,135 shares of the company’s stock, valued at $4,765,414.50. The trade was a 48.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 217,626 shares of company stock valued at $52,415,428 in the last three months.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ARM shares. KeyCorp increased their price target on shares of ARM from $300.00 to $430.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Bank of America lifted their price objective on shares of ARM from $335.00 to $460.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 23rd. Royal Bank Of Canada boosted their target price on shares of ARM from $175.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. The Goldman Sachs Group increased their target price on shares of ARM from $125.00 to $150.00 and gave the company a “sell” rating in a research report on Thursday, May 7th. Finally, Barclays increased their target price on shares of ARM from $250.00 to $360.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Seventeen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, ARM has an average rating of “Moderate Buy” and a consensus target price of $300.26.

ARM Price Performance

Shares of NASDAQ ARM opened at $289.73 on Wednesday. ARM Holdings PLC Sponsored ADR has a one year low of $100.02 and a one year high of $452.70. The business’s fifty day moving average price is $326.92 and its 200-day moving average price is $205.61. The stock has a market capitalization of $309.45 billion, a PE ratio of 344.92, a P/E/G ratio of 9.84 and a beta of 3.76.

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

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.