M & L Capital Management Ltd Acquires New Shares in Arm Holdings PLC Sponsored ADR $ARM

M & L Capital Management Ltd acquired a new position in shares of Arm Holdings PLC Sponsored ADR (NASDAQ:ARM) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 92,300 shares of the company’s stock, valued at approximately $26,736,000. ARM comprises approximately 5.6% of M & L Capital Management Ltd’s holdings, making the stock its 12th biggest position.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership raised its holdings in shares of ARM by 1,203.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 945,152 shares of the company’s stock valued at $142,983,000 after purchasing an additional 872,644 shares in the last quarter. Janus Henderson Group PLC bought a new position in ARM during the first quarter valued at about $116,112,000. Hyperion Asset Management Ltd raised its holdings in ARM by 36.9% during the third quarter. Hyperion Asset Management Ltd now owns 727,273 shares of the company’s stock valued at $210,662,000 after buying an additional 195,942 shares in the last quarter. Altshuler Shaham Ltd lifted its position in shares of ARM by 202.6% in the first quarter. Altshuler Shaham Ltd now owns 478,289 shares of the company’s stock worth $72,356,000 after buying an additional 320,236 shares during the last quarter. Finally, Sei Investments Co. lifted its position in shares of ARM by 67.5% in the first quarter. Sei Investments Co. now owns 454,220 shares of the company’s stock worth $68,714,000 after buying an additional 183,045 shares during the last quarter. Institutional investors own 7.53% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on ARM shares. TD Cowen decreased their price target on ARM from $475.00 to $350.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. KeyCorp increased their price objective on ARM from $300.00 to $430.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Royal Bank Of Canada cut their price objective on ARM from $475.00 to $340.00 and set an “outperform” rating on the stock in a research note on Thursday, July 30th. Weiss Ratings reissued a “hold (c)” rating on shares of ARM in a research note on Thursday, October 15th. Finally, Bank of America restated a “neutral” rating and issued a $335.00 target price (up from $245.00) on shares of ARM in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $303.32.

ARM Stock Up 1.5%

Shares of NASDAQ:ARM opened at $226.60 on Wednesday. The business has a 50 day moving average price of $260.38 and a 200 day moving average price of $226.25. Arm Holdings PLC Sponsored ADR has a twelve month low of $100.02 and a twelve month high of $452.70. The company has a market cap of $242.03 billion, a price-to-earnings ratio of 233.61 and a beta of 3.78.

ARM (NASDAQ:ARM) last released its earnings results on Thursday, July 30th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.26 billion. The business’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same period last year, the business earned $0.35 EPS. Analysts anticipate that Arm Holdings PLC Sponsored ADR will post 1.15 EPS for the current year.

Insider Activity at ARM

In other news, CFO Jason Child sold 10,400 shares of the company’s stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $300.00, for a total transaction of $3,120,000.00. Following the completion of the transaction, the chief financial officer directly owned 153,442 shares in the company, valued at $46,032,600. The trade was a 6.35% decrease in their ownership of the stock. The sale was disclosed in a 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.

ARM Company Profile

Arm Holdings plc (NASDAQ: ARM) is a semiconductor and software design company that develops central processing unit (CPU) architectures and related intellectual property. Rather than manufacturing chips itself, Arm licenses its designs and instruction-set architectures to semiconductor companies and technology manufacturers, which incorporate them into their own products.

The company’s offerings include CPU processor cores, graphics processing units through its Mali product family, system IP, development tools and software.