ARM (NASDAQ:ARM) Insider William Abbey Sells 5,069 Shares of Stock

by · The Cerbat Gem

ARM Holdings PLC Sponsored ADR (NASDAQ:ARMGet Free Report) insider William Abbey sold 5,069 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $257.18, for a total value of $1,303,645.42. Following the completion of the transaction, the insider owned 38,284 shares of the company’s stock, valued at approximately $9,845,879.12. The trade was a 11.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

William Abbey also recently made the following trade(s):

  • On Tuesday, May 19th, William Abbey sold 10,887 shares of ARM stock. The shares were sold at an average price of $224.14, for a total transaction of $2,440,212.18.
  • On Friday, May 15th, William Abbey sold 7,000 shares of ARM stock. The shares were sold at an average price of $212.55, for a total value of $1,487,850.00.
  • On Thursday, April 23rd, William Abbey sold 1,577 shares of ARM stock. The shares were sold at an average price of $199.00, for a total value of $313,823.00.

ARM Stock Performance

Shares of ARM stock opened at $298.23 on Friday. The company has a market cap of $315.08 billion, a P/E ratio of 355.04, a price-to-earnings-growth ratio of 9.32 and a beta of 3.40. The firm has a 50-day simple moving average of $175.32 and a two-hundred day simple moving average of $142.53. ARM Holdings PLC Sponsored ADR has a fifty-two week low of $100.02 and a fifty-two week high of $298.70.

ARM (NASDAQ:ARMGet Free Report) 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 company had revenue of $1.49 billion for the quarter. Equities research analysts forecast that ARM Holdings PLC Sponsored ADR will post 1.12 EPS for the current year.

Key ARM News

Here are the key news stories impacting ARM this week:

Hedge Funds Weigh In On ARM

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GKV Capital Management Co. Inc. purchased a new position in shares of ARM in the 1st quarter valued at $106,000. CTC Alternative Strategies Ltd. purchased a new stake in ARM during the 1st quarter valued at approximately $2,322,000. BankChampaign National Association acquired a new stake in shares of ARM during the first quarter worth $510,000. Groupe la Francaise lifted its stake in shares of ARM by 62.9% in the 1st quarter. Groupe la Francaise now owns 41,953 shares of the company’s stock worth $6,309,000 after acquiring an additional 16,201 shares during the period. Finally, Liontrust Investment Partners LLP boosted its holdings in ARM by 139.7% in the 1st quarter. Liontrust Investment Partners LLP now owns 347,339 shares of the company’s stock valued at $52,545,000 after purchasing an additional 202,410 shares in the last quarter. 7.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on ARM shares. Wells Fargo & Company boosted their price target on ARM from $220.00 to $255.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Evercore reduced their price target on shares of ARM from $215.00 to $170.00 and set an “outperform” rating on the stock in a research report on Thursday, February 5th. JPMorgan Chase & Co. lowered their target price on shares of ARM from $180.00 to $145.00 and set an “overweight” rating for the company in a research note on Thursday, February 5th. Guggenheim increased their price objective 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. Finally, Rosenblatt Securities raised their target price on ARM from $175.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Twenty analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $208.79.

View Our Latest Stock Report on ARM

About ARM

(Get Free Report)

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.

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