Polar Asset Management Partners Inc. Purchases Shares of 7,400 ARM Holdings PLC Sponsored ADR $ARM

Polar Asset Management Partners Inc. purchased a new position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 7,400 shares of the company’s stock, valued at approximately $1,119,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its holdings in shares of ARM by 2,623.5% in the fourth 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 fourth quarter valued at approximately $120,241,000. Arrowstreet Capital Limited Partnership boosted its stake in ARM by 1,203.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 945,152 shares of the company’s stock valued at $142,983,000 after buying an additional 872,644 shares during the last quarter. SG Americas Securities LLC grew 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 buying an additional 705,459 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in ARM by 36.9% during the 4th 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. Institutional investors own 7.53% of the company’s stock.

ARM Price Performance

NASDAQ:ARM opened at $266.33 on Tuesday. The firm has a market capitalization of $284.46 billion, a price-to-earnings ratio of 317.06, a PEG ratio of 8.08 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 business has a 50 day simple moving average of $331.29 and a 200-day simple moving average of $210.09.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, April 1st. The company reported $0.60 earnings per share 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 for the quarter. As a group, analysts expect that ARM Holdings PLC Sponsored ADR will post 1.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

ARM has been the topic of a number of research reports. Bank of America lifted their price objective on ARM from $335.00 to $460.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 23rd. Jefferies Financial Group reissued a “buy” rating and issued a $320.00 target price on shares of ARM in a report on Monday, July 20th. Guggenheim boosted their price target on shares of ARM from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Morgan Stanley reaffirmed an “equal weight” rating and set a $150.00 price target (up from $135.00) on shares of ARM in a research note on Tuesday, April 7th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of ARM in a research report on Thursday, May 7th. Seventeen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $297.65.

Insider Activity at ARM

In other news, CFO Jason Child sold 31,920 shares of the stock in a transaction on Wednesday, May 20th. The shares were 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 of the company’s stock, valued at approximately $39,470,517.28. This represents a 15.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $392.70, for a total transaction of $4,439,866.20. Following the completion of the sale, the chief accounting officer owned 12,135 shares of the company’s stock, valued at $4,765,414.50. This trade represents a 48.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 216,049 shares of company stock valued at $52,101,605 over the last three months.

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.