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

Whittier Trust Co. bought a new position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 58,793 shares of the company’s stock, valued at approximately $8,747,000.

Several other large investors have also recently bought and sold shares of the business. Rathbones Group PLC grew its stake in 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 during the last quarter. Paragon Capital Management Inc. acquired a new position in shares of ARM in the 4th quarter worth approximately $826,000. Lansdowne Partners UK LLP bought a new stake in ARM during the 3rd quarter worth approximately $8,486,000. Hyperion Asset Management Ltd bought a new stake in ARM during the 3rd quarter worth approximately $202,980,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in ARM by 34.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,188 shares of the company’s stock valued at $2,644,000 after purchasing an additional 6,232 shares in the last quarter. 7.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Wells Fargo & Company increased their price target on shares of ARM from $255.00 to $410.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. Morgan Stanley reiterated an “equal weight” rating and issued a $150.00 target price (up from $135.00) on shares of ARM in a research note on Tuesday, April 7th. Royal Bank Of Canada lifted their price target on ARM from $175.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. HSBC raised ARM from a “reduce” rating to a “buy” rating and boosted their price target for the stock from $90.00 to $205.00 in a research report on Friday, March 20th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of ARM in a research report on Thursday, May 7th. Nineteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $279.83.

Insider Activity at ARM

In related news, insider William Abbey sold 6,566 shares of the business’s 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 completion of the transaction, the insider owned 20,563 shares in the company, valued at approximately $8,281,131.36. The trade was a 24.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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 shares were sold at an average price of $282.77, for a total value of $1,131,080.00. Following the completion of the sale, the insider owned 7,805 shares in the company, valued at approximately $2,207,019.85. This represents a 33.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 248,205 shares of company stock worth $57,741,572 in the last quarter.

ARM Stock Down 7.0%

Shares of NASDAQ ARM traded down $22.45 during trading on Tuesday, reaching $299.79. 2,429,855 shares of the company traded hands, compared to its average volume of 8,880,647. The firm has a 50 day simple moving average of $307.70 and a 200-day simple moving average of $190.34. ARM Holdings PLC Sponsored ADR has a 52-week low of $100.02 and a 52-week high of $452.70. The stock has a market capitalization of $320.20 billion, a PE ratio of 357.24, a P/E/G ratio of 11.45 and a beta of 3.76.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, April 1st. The company reported $0.60 earnings per share for the quarter. The company 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%. As a group, research analysts predict that ARM Holdings PLC Sponsored ADR will post 1.12 EPS 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.