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. lowered its holdings in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 30.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,057 shares of the company’s stock after selling 2,683 shares during the period. ARM accounts for 2.3% of Mitsubishi UFJ Morgan Stanley Securities Co. Ltd.’s investment portfolio, making the stock its 6th largest holding. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd.’s holdings in ARM were worth $916,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. DSM Capital Partners LLC increased its stake in ARM by 5.2% in the first quarter. DSM Capital Partners LLC now owns 2,730 shares of the company’s stock valued at $413,000 after purchasing an additional 134 shares during the period. Greenwood Capital Associates LLC acquired a new stake in shares of ARM during the first quarter worth about $2,081,000. Swedbank AB grew its holdings in shares of ARM by 15.7% during the first quarter. Swedbank AB now owns 421,000 shares of the company’s stock worth $63,689,000 after buying an additional 57,000 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of ARM during the first quarter worth about $3,589,000. Finally, Whittier Trust Co. acquired a new position in ARM in the 1st quarter valued at about $8,747,000. 7.53% of the stock is owned by hedge funds and other institutional investors.

ARM Trading Down 0.1%

Shares of ARM stock opened at $300.24 on Thursday. The stock has a 50 day simple moving average of $313.06 and a 200-day simple moving average of $194.38. The company has a market cap of $320.68 billion, a price-to-earnings ratio of 357.43, a price-to-earnings-growth ratio of 10.91 and a beta of 3.76. ARM Holdings PLC Sponsored ADR has a 12-month low of $100.02 and a 12-month high of $452.70.

ARM (NASDAQ:ARM) last posted its quarterly 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. On average, equities analysts forecast that ARM Holdings PLC Sponsored ADR will post 1.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ARM news, CAO Laura Kathleen Bartels sold 11,306 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $392.70, for a total transaction of $4,439,866.20. Following the sale, the chief accounting officer directly owned 12,135 shares in the company, valued at approximately $4,765,414.50. The trade was a 48.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William Abbey sold 6,566 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $402.72, for a total transaction of $2,644,259.52. Following the transaction, the insider directly owned 20,563 shares in the company, valued at approximately $8,281,131.36. This trade represents a 24.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 248,205 shares of company stock worth $57,741,572 in the last ninety days.

Analyst Ratings Changes

Several analysts have commented on ARM shares. HSBC raised ARM from a “reduce” rating to a “buy” rating and upped their price objective for the company from $90.00 to $205.00 in a research note on Friday, March 20th. Royal Bank Of Canada boosted their target price on ARM from $175.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Susquehanna upped their price target on ARM from $170.00 to $210.00 and gave the stock a “positive” rating in a research note on Thursday, April 16th. Jefferies Financial Group set a $290.00 price target on ARM in a report on Thursday, May 21st. Finally, UBS Group lifted their price objective 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. Nineteen investment analysts have rated the stock with 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $279.83.

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.