Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. Sells 2,683 Shares of ARM Holdings PLC Sponsored ADR $ARM

Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. reduced its position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 30.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,057 shares of the company’s stock after selling 2,683 shares during the period. ARM comprises 2.3% of Mitsubishi UFJ Morgan Stanley Securities Co. Ltd.’s investment portfolio, making the stock its 6th biggest position. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd.’s holdings in ARM were worth $916,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Syntax Research Inc. purchased a new stake in ARM during the first quarter worth $30,000. Mcguire Capital Advisors Inc. purchased a new position in shares of ARM in the fourth quarter valued at $30,000. Navalign LLC purchased a new position in shares of ARM in the fourth quarter valued at $33,000. FWL Investment Management LLC acquired a new position in shares of ARM during the 2nd quarter worth $34,000. Finally, Motiv8 Investments LLC acquired a new position in shares of ARM during the 4th quarter worth $38,000. 7.53% of the stock is owned by institutional investors and hedge funds.

ARM Stock Performance

Shares of ARM opened at $300.24 on Thursday. The company has a market capitalization of $320.68 billion, a price-to-earnings ratio of 357.43, a PEG ratio of 10.91 and a beta of 3.76. The company’s 50 day simple moving average is $313.06 and its 200 day simple moving average is $194.38. ARM Holdings PLC Sponsored ADR has a 1 year low of $100.02 and a 1 year high of $452.70.

ARM (NASDAQ:ARM) last announced its earnings results on Wednesday, April 1st. The company reported $0.60 earnings per share (EPS) for the quarter. The firm had revenue of $1.49 billion for the quarter. ARM had a net margin of 18.37% and a return on equity of 12.43%. Equities analysts expect that ARM Holdings PLC Sponsored ADR will post 1.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ARM. Barclays increased their price objective on shares of ARM from $250.00 to $360.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. Susquehanna lifted their target price on shares of ARM from $170.00 to $210.00 and gave the stock a “positive” rating in a research report on Thursday, April 16th. Royal Bank Of Canada upped their price target on shares of ARM from $175.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Morgan Stanley reiterated an “equal weight” rating and issued a $150.00 price target (up from $135.00) on shares of ARM in a research report on Tuesday, April 7th. Finally, HSBC raised shares of ARM from a “reduce” rating to a “buy” rating and raised their price objective for the stock from $90.00 to $205.00 in a research note on Friday, March 20th. Nineteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $279.83.

Insider Activity at ARM

In other news, insider Richard Roy Grisenthwaite sold 24,339 shares of ARM stock in a transaction on Monday, May 18th. The stock was sold at an average price of $209.15, for a total value of $5,090,501.85. Following the completion of the sale, the insider owned 5,543 shares of the company’s stock, valued at $1,159,318.45. The trade was a 81.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Spencer Collins sold 51,961 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $211.73, for a total value of $11,001,702.53. Following the completion of the transaction, the insider owned 51,125 shares of the company’s stock, valued at $10,824,696.25. The trade was a 50.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, 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.