Pictet Asset Management Holding SA Invests $562,000 in ARM Holdings PLC Sponsored ADR $ARM

Pictet Asset Management Holding SA acquired a new position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,715 shares of the company’s stock, valued at approximately $562,000.

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

Wall Street Analyst Weigh In

ARM has been the subject of several recent analyst reports. HSBC raised ARM from a “reduce” rating to a “buy” rating and increased their price target for the stock from $90.00 to $205.00 in a research note on Friday, March 20th. TD Cowen upped their price objective on shares of ARM from $265.00 to $475.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Susquehanna increased their target price on shares of ARM from $170.00 to $210.00 and gave the company a “positive” rating in a research report on Thursday, April 16th. Rosenblatt Securities boosted their price target on shares of ARM from $175.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of ARM in a research note on Thursday, May 7th. Nineteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $279.83.

ARM Price Performance

Shares of ARM opened at $327.87 on Friday. The firm’s 50 day moving average is $315.64 and its 200-day moving average is $195.89. The stock has a market capitalization of $350.19 billion, a P/E ratio of 390.32, a P/E/G ratio of 10.90 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.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, April 1st. The company reported $0.60 EPS for the quarter. The business 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, equities research analysts forecast that ARM Holdings PLC Sponsored ADR will post 1.12 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Jason Child sold 31,920 shares of ARM stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $226.54, for a total value of $7,231,156.80. Following the transaction, the chief financial officer directly owned 174,232 shares in the company, valued at $39,470,517.28. The trade was a 15.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Laura Kathleen Bartels sold 11,306 shares of the company’s stock in a transaction on 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 sale, the chief accounting officer directly owned 12,135 shares of the company’s stock, valued at approximately $4,765,414.50. This represents a 48.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 248,205 shares of company stock worth $57,741,572 over the last quarter.

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.