Mandatum Life Insurance Co Ltd Makes New $2.89 Million Investment in ARM Holdings PLC Sponsored ADR $ARM

Mandatum Life Insurance Co Ltd purchased a new stake in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) in the 1st quarter, Holdings Channel reports. The fund purchased 19,128 shares of the company’s stock, valued at approximately $2,894,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Morgan Stanley lifted its stake in ARM by 1.2% in the 4th quarter. Morgan Stanley now owns 3,783,006 shares of the company’s stock valued at $413,521,000 after purchasing an additional 45,314 shares during the last quarter. Invesco Ltd. boosted its stake in ARM by 36.9% in the 4th quarter. Invesco Ltd. now owns 2,426,850 shares of the company’s stock valued at $265,279,000 after purchasing an additional 654,727 shares during the period. Coatue Management LLC boosted its position in shares of ARM by 1.8% in the fourth quarter. Coatue Management LLC now owns 2,300,000 shares of the company’s stock valued at $251,413,000 after acquiring an additional 40,174 shares during the period. Wellington Management Group LLP grew its position in shares of ARM by 41.6% during the 4th quarter. Wellington Management Group LLP now owns 2,149,159 shares of the company’s stock worth $234,925,000 after purchasing an additional 631,576 shares in the last quarter. Finally, Schroder Investment Management Group grew its position in ARM by 11.0% during the fourth quarter. Schroder Investment Management Group now owns 1,891,310 shares of the company’s stock worth $206,739,000 after buying an additional 187,035 shares in the last quarter. Institutional investors and hedge funds own 7.53% of the company’s stock.

ARM Trading Down 6.0%

ARM stock opened at $281.17 on Wednesday. The firm has a market capitalization of $300.31 billion, a price-to-earnings ratio of 334.73, a price-to-earnings-growth ratio of 10.86 and a beta of 3.76. ARM Holdings PLC Sponsored ADR has a 1-year low of $100.02 and a 1-year high of $452.70. The firm’s fifty day moving average price is $321.30 and its two-hundred day moving average price is $199.88.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, April 1st. The company reported $0.60 EPS for the quarter. ARM had a return on equity of 12.43% and a net margin of 18.37%.The firm had revenue of $1.49 billion during the quarter. On average, research analysts forecast that ARM Holdings PLC Sponsored ADR will post 1.12 EPS for the current year.

Wall Street Analyst Weigh In

ARM has been the topic of a number of analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $400.00 price objective on shares of ARM in a research note on Tuesday, June 16th. HSBC lowered ARM from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $255.00 to $315.00 in a research report on Tuesday. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of ARM in a research report on Thursday, May 7th. UBS Group increased their target price on shares of ARM from $260.00 to $470.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. Finally, The Goldman Sachs Group lifted their target price on shares of ARM from $125.00 to $150.00 and gave the stock a “sell” rating in a research note on Thursday, May 7th. Eighteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, ARM presently has an average rating of “Moderate Buy” and a consensus target price of $295.25.

Insider Activity

In other ARM news, insider William Abbey sold 6,566 shares of ARM stock in a transaction that occurred 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 owned 20,563 shares of the company’s stock, valued at $8,281,131.36. This trade represents a 24.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 sale, the chief financial officer owned 174,232 shares in the company, valued at $39,470,517.28. This trade represents a 15.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 238,906 shares of company stock worth $56,245,828.

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.