Franklin Resources Inc. Purchases 10,385 Shares of ARM Holdings PLC Sponsored ADR $ARM

Franklin Resources Inc. grew its position in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 0.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,461,410 shares of the company’s stock after acquiring an additional 10,385 shares during the period. Franklin Resources Inc.’s holdings in ARM were worth $159,747,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rathbones Group PLC raised its stake in shares of ARM by 4,638.8% during the fourth quarter. Rathbones Group PLC now owns 500,043 shares of the company’s stock valued at $54,660,000 after acquiring an additional 489,491 shares during the last quarter. Paragon Capital Management Inc. bought a new position in shares of ARM during the fourth quarter valued at about $826,000. Lansdowne Partners UK LLP bought a new position in shares of ARM during the third quarter valued at about $8,486,000. Hyperion Asset Management Ltd bought a new position in shares of ARM during the third quarter valued at about $202,980,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of ARM by 34.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,188 shares of the company’s stock valued at $2,644,000 after acquiring an additional 6,232 shares during the last quarter. 7.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on ARM. Mizuho raised their price objective on shares of ARM from $425.00 to $500.00 and gave the stock an “outperform” rating in a report on Monday. Guggenheim raised their price objective on shares of ARM from $240.00 to $255.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Weiss Ratings restated a “hold (c)” rating on shares of ARM in a report on Monday, April 20th. Rosenblatt Securities raised their target price on ARM from $175.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, Susquehanna raised their target price on ARM from $170.00 to $210.00 and gave the company a “positive” rating in a research note on Thursday, April 16th. Twenty analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $230.04.

ARM Stock Performance

Shares of NASDAQ ARM opened at $307.43 on Thursday. ARM Holdings PLC Sponsored ADR has a fifty-two week low of $100.02 and a fifty-two week high of $427.99. The company has a 50 day simple moving average of $235.49 and a two-hundred day simple moving average of $162.14. The company has a market capitalization of $328.36 billion, a price-to-earnings ratio of 365.99, a P/E/G ratio of 11.80 and a beta of 3.78.

ARM (NASDAQ:ARM) last announced its earnings results on Wednesday, April 1st. The company reported $0.60 earnings per share for the quarter. ARM had a net margin of 18.37% and a return on equity of 12.43%. 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 earnings per share for the current fiscal year.

Insider Activity

In related news, insider William Abbey sold 6,566 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $402.72, for a total transaction of $2,644,259.52. Following the completion of the sale, the insider owned 20,563 shares of the company’s stock, valued at $8,281,131.36. This trade represents a 24.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jason Child sold 31,920 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer directly owned 174,232 shares of the company’s stock, valued at $39,470,517.28. This trade represents a 15.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 301,338 shares of company stock worth $66,030,158 over the last three months.

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.