Arm Holdings PLC Sponsored ADR $ARM Shares Sold by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. lessened its holdings in Arm Holdings PLC Sponsored ADR (NASDAQ:ARM) by 7.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,972 shares of the company’s stock after selling 2,305 shares during the quarter. Pinnacle Associates Ltd.’s holdings in ARM were worth $8,682,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. LCM Capital Management Inc boosted its position in shares of ARM by 10.2% in the 3rd quarter. LCM Capital Management Inc now owns 1,380 shares of the company’s stock worth $400,000 after purchasing an additional 128 shares in the last quarter. Hyperion Asset Management Ltd grew its stake in shares of ARM by 36.9% in the 3rd quarter. Hyperion Asset Management Ltd now owns 727,273 shares of the company’s stock worth $210,662,000 after buying an additional 195,942 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in ARM by 19.5% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,800 shares of the company’s stock valued at $2,549,000 after buying an additional 1,436 shares in the last quarter. SteelPeak Wealth LLC increased its position in ARM by 11.0% during the 3rd quarter. SteelPeak Wealth LLC now owns 931 shares of the company’s stock valued at $270,000 after buying an additional 92 shares in the last quarter. Finally, KRS Capital Management LLC increased its position in ARM by 8.4% during the 3rd quarter. KRS Capital Management LLC now owns 1,568 shares of the company’s stock valued at $454,000 after buying an additional 121 shares in the last quarter. Hedge funds and other institutional investors own 7.53% of the company’s stock.

Insider Buying and Selling

In other ARM news, CFO Jason Child sold 10,400 shares of ARM stock in a transaction on Monday, September 21st. The stock was sold at an average price of $300.00, for a total value of $3,120,000.00. Following the completion of the sale, the chief financial officer owned 153,442 shares of the company’s stock, valued at approximately $46,032,600. This trade represents a 6.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ARM Stock Performance

Shares of NASDAQ ARM opened at $226.59 on Thursday. The firm’s 50 day moving average price is $264.61 and its 200-day moving average price is $271.80. The company has a market cap of $242.02 billion, a PE ratio of 233.60, a P/E/G ratio of 6.56 and a beta of 3.78. Arm Holdings PLC Sponsored ADR has a 52-week low of $100.02 and a 52-week high of $452.70.

ARM (NASDAQ:ARM) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05. ARM had a net margin of 20.25% and a return on equity of 12.24%. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the prior year, the company posted $0.35 earnings per share. The business’s revenue for the quarter was up 22.4% on a year-over-year basis. On average, analysts forecast that Arm Holdings PLC Sponsored ADR will post 1.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on ARM. Needham & Company LLC reiterated a “buy” rating and set a $255.00 price objective on shares of ARM in a research note on Thursday, July 30th. Jefferies Financial Group reissued a “buy” rating and issued a $320.00 target price on shares of ARM in a research note on Monday, July 20th. Royal Bank Of Canada cut their target price on ARM from $475.00 to $340.00 and set an “outperform” rating on the stock in a research note on Thursday, July 30th. Morgan Stanley raised their price target on ARM from $202.00 to $212.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Finally, Susquehanna raised their price target on ARM from $300.00 to $320.00 and gave the company a “positive” rating in a report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, ARM presently has a consensus rating of “Moderate Buy” and an average price target of $303.32.

About ARM

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.