Sei Investments Co. Purchases 183,045 Shares of ARM Holdings PLC Sponsored ADR $ARM

Sei Investments Co. lifted its holdings in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 67.5% in the 1st quarter, HoldingsChannel.com reports. The fund owned 454,220 shares of the company’s stock after buying an additional 183,045 shares during the period. Sei Investments Co.’s holdings in ARM were worth $68,714,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Morgan Stanley increased its holdings 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 in the last quarter. Invesco Ltd. boosted its holdings in shares of ARM by 36.9% during the 4th quarter. Invesco Ltd. now owns 2,426,850 shares of the company’s stock worth $265,279,000 after buying an additional 654,727 shares in the last quarter. Coatue Management LLC grew 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 worth $251,413,000 after buying an additional 40,174 shares during the period. Wellington Management Group LLP increased its stake in shares of ARM by 41.6% in the 4th quarter. Wellington Management Group LLP now owns 2,149,159 shares of the company’s stock valued at $234,925,000 after acquiring an additional 631,576 shares in the last quarter. Finally, Schroder Investment Management Group increased its stake in shares of ARM by 11.0% in the 4th quarter. Schroder Investment Management Group now owns 1,891,310 shares of the company’s stock valued at $206,739,000 after acquiring an additional 187,035 shares in the last quarter. 7.53% of the stock is owned by institutional investors and hedge funds.

ARM Price Performance

NASDAQ:ARM opened at $260.01 on Friday. The firm has a 50-day moving average of $330.27 and a 200-day moving average of $208.38. The company has a market cap of $277.71 billion, a PE ratio of 309.54, a PEG ratio of 8.80 and a beta of 3.76. ARM Holdings PLC Sponsored ADR has a one year low of $100.02 and a one year high of $452.70.

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

Insider Buying and Selling

In related news, CAO Laura Kathleen Bartels sold 11,306 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $392.70, for a total value of $4,439,866.20. Following the completion of the sale, the chief accounting officer directly owned 12,135 shares of the company’s stock, valued at approximately $4,765,414.50. This represents a 48.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Jason Child sold 31,920 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were 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 in the company, valued at approximately $39,470,517.28. This trade represents a 15.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 216,049 shares of company stock valued at $52,101,605.

Wall Street Analysts Forecast Growth

ARM has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of ARM in a research note on Thursday, May 7th. Needham & Company LLC reissued a “buy” rating and set a $400.00 price objective on shares of ARM in a research report on Tuesday, June 16th. New Street Research downgraded ARM from a “buy” rating to a “neutral” rating in a research note on Thursday, June 18th. Barclays boosted their target price on ARM from $250.00 to $360.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Finally, Bank of America increased their price target on ARM from $335.00 to $460.00 and gave the stock a “neutral” rating in a report on Tuesday, June 23rd. Seventeen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $297.65.

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.