Sumitomo Mitsui Trust Group Inc. Buys 53,914 Shares of ARM Holdings PLC Sponsored ADR $ARM

Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 146.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,773 shares of the company’s stock after acquiring an additional 53,914 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in ARM were worth $13,732,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. grew its holdings in shares of ARM by 2,623.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,671,787 shares of the company’s stock worth $182,743,000 after purchasing an additional 1,610,403 shares during the last quarter. Employees Provident Fund Board bought a new position in ARM during the 4th quarter valued at about $120,241,000. SG Americas Securities LLC lifted its holdings in ARM by 265.6% during the 1st quarter. SG Americas Securities LLC now owns 971,067 shares of the company’s stock valued at $146,903,000 after purchasing an additional 705,459 shares during the last quarter. Invesco Ltd. boosted its position in ARM by 36.9% in the fourth quarter. Invesco Ltd. now owns 2,426,850 shares of the company’s stock valued at $265,279,000 after buying an additional 654,727 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in ARM by 41.6% in the fourth quarter. Wellington Management Group LLP now owns 2,149,159 shares of the company’s stock valued at $234,925,000 after buying an additional 631,576 shares in the last quarter. 7.53% of the stock is owned by institutional investors.

ARM Stock Down 6.0%

Shares of NASDAQ:ARM opened at $281.17 on Wednesday. The firm has a market cap of $300.31 billion, a P/E ratio of 334.73, a P/E/G ratio of 10.86 and a beta of 3.76. ARM Holdings PLC Sponsored ADR has a 12 month low of $100.02 and a 12 month high of $452.70. The company’s 50-day moving average price is $321.30 and its two-hundred day moving average price is $199.88.

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 company had revenue of $1.49 billion during the quarter. As a group, equities analysts predict that ARM Holdings PLC Sponsored ADR will post 1.12 earnings per share for the current fiscal year.

Insider Activity at ARM

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 value 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 document filed with the SEC, which is available at the SEC website. Also, CFO Jason Child sold 31,920 shares of the business’s stock in a transaction that occurred on 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 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. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 238,906 shares of company stock worth $56,245,828.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Rosenblatt Securities raised their price objective on shares of ARM from $175.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Susquehanna boosted their target price on ARM from $170.00 to $210.00 and gave the stock a “positive” rating in a report on Thursday, April 16th. Sanford C. Bernstein set a $500.00 price target on ARM in a research report on Wednesday, June 17th. Jefferies Financial Group set a $290.00 price target on ARM in a report on Thursday, May 21st. Finally, TD Cowen raised their price target on ARM from $265.00 to $475.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Eighteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $295.25.

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.