Handelsbanken Fonder AB Decreases Stock Position in ARM Holdings PLC Sponsored ADR $ARM

Handelsbanken Fonder AB lessened its stake in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 8.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 74,374 shares of the company’s stock after selling 7,115 shares during the period. Handelsbanken Fonder AB’s holdings in ARM were worth $26,371,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Amundi raised its stake in ARM by 24.8% during the first quarter. Amundi now owns 11,804 shares of the company’s stock valued at $1,153,000 after purchasing an additional 2,345 shares in the last quarter. Empowered Funds LLC grew its stake in shares of ARM by 28.8% in the 1st quarter. Empowered Funds LLC now owns 4,887 shares of the company’s stock worth $522,000 after buying an additional 1,094 shares in the last quarter. Schnieders Capital Management LLC. increased its holdings in shares of ARM by 9.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 2,430 shares of the company’s stock worth $393,000 after buying an additional 200 shares during the last quarter. Bank of Nova Scotia purchased a new stake in shares of ARM during the 2nd quarter valued at about $556,000. Finally, State Street Corp lifted its holdings in shares of ARM by 14.7% in the 2nd quarter. State Street Corp now owns 441,445 shares of the company’s stock valued at $71,399,000 after acquiring an additional 56,656 shares during the last quarter. 7.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of ARM in a research note on Friday, July 17th. Wells Fargo & Company cut their target price on ARM from $350.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday, July 30th. TD Cowen lowered their price target on ARM from $475.00 to $350.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Royal Bank Of Canada reduced their target price on shares of ARM from $475.00 to $340.00 and set an “outperform” rating on the stock in a research note on Thursday, July 30th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of ARM in a report on Thursday, May 7th. Eighteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $285.33.

Insiders Place Their Bets

In other news, CAO Laura Kathleen Bartels sold 11,306 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $392.70, for a total value of $4,439,866.20. Following the transaction, the chief accounting officer directly owned 12,135 shares in the company, valued at approximately $4,765,414.50. This represents a 48.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Jason Child sold 31,920 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was 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 directly owned 174,232 shares in the company, valued at $39,470,517.28. This represents a 15.48% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 164,088 shares of company stock valued at $41,099,903 in the last three months.

ARM Stock Performance

Shares of NASDAQ ARM opened at $271.87 on Thursday. The business’s 50 day moving average price is $315.23 and its 200-day moving average price is $222.79. ARM Holdings PLC Sponsored ADR has a fifty-two week low of $100.02 and a fifty-two week high of $452.70. The company has a market cap of $290.38 billion, a price-to-earnings ratio of 280.28, a PEG ratio of 7.97 and a beta of 3.90.

ARM (NASDAQ:ARM) last posted its quarterly earnings data 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 company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.26 billion. ARM had a return on equity of 12.24% and a net margin of 20.25%.ARM’s revenue was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.35 EPS. Sell-side analysts predict that ARM Holdings PLC Sponsored ADR will post 1.15 earnings per share for the current year.

ARM Company 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.