Bank of Marin Invests $512,000 in ARM Holdings PLC Sponsored ADR $ARM

Bank of Marin purchased a new position in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) in the fourth quarter, HoldingsChannel reports. The fund purchased 4,685 shares of the company’s stock, valued at approximately $512,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ARM. Capital Research Global Investors purchased a new stake in shares of ARM during the third quarter worth about $243,098,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of ARM by 2,623.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,671,787 shares of the company’s stock worth $182,743,000 after buying an additional 1,610,403 shares in the last quarter. Hyperion Asset Management Ltd purchased a new stake in shares of ARM during the third quarter worth about $202,980,000. Rathbones Group PLC grew its holdings 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 worth $54,660,000 after buying an additional 489,491 shares in the last quarter. Finally, Nuveen LLC grew its holdings in shares of ARM by 49.7% during the fourth quarter. Nuveen LLC now owns 1,364,101 shares of the company’s stock worth $149,110,000 after buying an additional 452,725 shares in the last quarter. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Susquehanna lifted their price target on shares of ARM from $170.00 to $210.00 and gave the stock a “positive” rating in a report on Thursday, April 16th. Barclays boosted their target price on shares of ARM from $250.00 to $360.00 and gave the company an “overweight” rating in a report on Monday, June 1st. Jefferies Financial Group set a $290.00 target price on shares of ARM in a report on Thursday, May 21st. Sanford C. Bernstein assumed coverage on shares of ARM in a report on Monday, May 18th. They issued an “outperform” rating and a $300.00 target price for the company. Finally, Needham & Company LLC restated a “buy” rating and issued a $400.00 target price on shares of ARM in a report on Tuesday. Twenty research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $245.04.

ARM Stock Performance

ARM stock opened at $396.34 on Wednesday. ARM Holdings PLC Sponsored ADR has a 1 year low of $100.02 and a 1 year high of $428.60. The firm has a 50 day moving average price of $254.04 and a 200 day moving average price of $169.20. The company has a market cap of $423.32 billion, a price-to-earnings ratio of 471.83, a PEG ratio of 14.98 and a beta of 3.78.

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

Insider Activity

In other ARM news, CFO Jason Child sold 31,920 shares of ARM 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 transaction, the chief financial officer directly owned 174,232 shares of the company’s stock, valued at $39,470,517.28. The trade was a 15.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Rene A. Haas sold 23,867 shares of ARM stock in a transaction that occurred on Wednesday, March 25th. The shares were sold at an average price of $161.17, for a total transaction of $3,846,644.39. Following the transaction, the chief executive officer directly owned 290,965 shares in the company, valued at approximately $46,894,829.05. This trade represents a 7.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 301,338 shares of company stock valued at $66,030,158 over the last quarter.

ARM Profile

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.