Arm Holdings PLC Sponsored ADR $ARM Stock: ProShare Advisors LLC Raises Stake

by · The Markets Daily

ProShare Advisors LLC boosted its position in Arm Holdings PLC Sponsored ADR (NASDAQ:ARM – Free Report) by 2.2% during the 3rd quarter, Holdings Channel reports. The fund owned 421,817 shares of the company’s stock after buying an additional 9,242 shares during the period. ProShare Advisors LLC’s holdings in ARM were worth $122,184,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ARM. Hyperion Asset Management Ltd lifted its holdings in ARM by 36.9% during the 3rd quarter. Hyperion Asset Management Ltd now owns 727,273 shares of the company’s stock worth $210,662,000 after purchasing an additional 195,942 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of ARM by 1,203.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 945,152 shares of the company’s stock worth $142,983,000 after purchasing an additional 872,644 shares during the period. Janus Henderson Group PLC bought a new stake in shares of ARM in the first quarter worth about $116,112,000. Altshuler Shaham Ltd grew its position in ARM by 202.6% in the 1st quarter. Altshuler Shaham Ltd now owns 478,289 shares of the company’s stock valued at $72,356,000 after acquiring an additional 320,236 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in ARM by 67.5% in the first quarter. Sei Investments Co. now owns 454,220 shares of the company’s stock worth $68,714,000 after purchasing an additional 183,045 shares in the last quarter. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

ARM Stock Performance

Shares of NASDAQ ARM opened at $205.97 on Friday. Arm Holdings PLC Sponsored ADR has a 52-week low of $100.02 and a 52-week high of $452.70. The firm has a 50 day moving average price of $258.73 and a 200 day moving average price of $227.92. The stock has a market cap of $219.99 billion, a P/E ratio of 212.34, a P/E/G ratio of 6.11 and a beta of 3.78.

ARM (NASDAQ:ARM – Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.05. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.26 billion. ARM had a net margin of 20.25% and a return on equity of 12.24%. The firm’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.35 earnings per share. Analysts predict that Arm Holdings PLC Sponsored ADR will post 1.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

ARM has been the topic of several recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ARM in a research note on Thursday, October 15th. Needham & Company LLC reiterated a “buy” rating and issued a $255.00 price objective on shares of ARM in a research note on Thursday, July 30th. Jefferies Financial Group restated a “buy” rating and set a $320.00 price objective on shares of ARM in a report on Monday, July 20th. Piper Sandler started coverage on shares of ARM in a research report on Wednesday, September 9th. They issued an “overweight” rating and a $320.00 price objective for the company. Finally, Royal Bank Of Canada reduced their price objective on ARM from $475.00 to $340.00 and set an “outperform” rating for the company in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $303.32.

Get Our Latest Stock Report on ARM

Insider Activity

In other news, CFO Jason Child sold 10,400 shares of ARM stock in a transaction on Monday, September 21st. The shares were sold at an average price of $300.00, for a total value of $3,120,000.00. Following the completion of the sale, the chief financial officer owned 153,442 shares in the company, valued at $46,032,600. The trade was a 6.35% decrease in their position. The transaction 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.

ARM Company Profile

(Free Report)

Arm Holdings plc (NASDAQ: ARM) is a semiconductor and software design company that develops central processing unit (CPU) architectures and related intellectual property. Rather than manufacturing chips itself, Arm licenses its designs and instruction-set architectures to semiconductor companies and technology manufacturers, which incorporate them into their own products.

The company’s offerings include CPU processor cores, graphics processing units through its Mali product family, system IP, development tools and software.

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