Whittier Trust Co. Makes New $8.75 Million Investment in ARM Holdings PLC Sponsored ADR $ARM

Whittier Trust Co. purchased a new stake in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) in the 1st quarter, HoldingsChannel reports. The institutional investor purchased 58,793 shares of the company’s stock, valued at approximately $8,747,000.

Several other institutional investors have also modified their holdings of ARM. Syntax Research Inc. bought a new stake in ARM in the first quarter worth approximately $30,000. Mcguire Capital Advisors Inc. acquired a new stake in shares of ARM in the 4th quarter valued at $30,000. Navalign LLC acquired a new stake in shares of ARM in the 4th quarter valued at $33,000. FWL Investment Management LLC bought a new stake in ARM in the second quarter worth $34,000. Finally, Motiv8 Investments LLC acquired a new position in ARM during the fourth quarter worth $38,000. Institutional investors own 7.53% of the company’s stock.

ARM Stock Performance

Shares of NASDAQ ARM traded down $22.45 during trading hours on Tuesday, reaching $299.79. 2,429,855 shares of the stock were exchanged, compared to its average volume of 8,880,647. The firm has a market capitalization of $320.20 billion, a price-to-earnings ratio of 357.24, a P/E/G ratio of 11.45 and a beta of 3.76. The stock’s fifty day simple moving average is $307.70 and its 200 day simple moving average is $190.34. 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 issued its earnings results on Wednesday, April 1st. The company reported $0.60 earnings per share for the quarter. The business had revenue of $1.49 billion during the quarter. ARM had a return on equity of 12.43% and a net margin of 18.37%. Research analysts predict that ARM Holdings PLC Sponsored ADR will post 1.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ARM shares. HSBC upgraded ARM from a “reduce” rating to a “buy” rating and raised their price target for the company from $90.00 to $205.00 in a report on Friday, March 20th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of ARM in a research report on Thursday, May 7th. Rosenblatt Securities raised their target price on shares of ARM from $175.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Needham & Company LLC reiterated a “buy” rating and set a $400.00 price target on shares of ARM in a research report on Tuesday, June 16th. Finally, Wells Fargo & Company boosted their price target on shares of ARM from $255.00 to $410.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Nineteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $279.83.

Insider Activity at ARM

In related news, insider William Abbey sold 6,566 shares of the stock in a transaction 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 transaction, the insider directly owned 20,563 shares of the company’s stock, valued at $8,281,131.36. This 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 can be accessed through the SEC website. Also, insider Charlotte Claire Eaton sold 4,000 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $282.77, for a total transaction of $1,131,080.00. Following the completion of the sale, the insider owned 7,805 shares of the company’s stock, valued at $2,207,019.85. The trade was a 33.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 248,205 shares of company stock worth $57,741,572.

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.