ARM (NASDAQ:ARM) CFO Jason Child Sells 10,400 Shares of Stock

Arm Holdings PLC Sponsored ADR (NASDAQ:ARM) CFO Jason Child sold 10,400 shares of the business’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $255.33, for a total transaction of $2,655,432.00. Following the sale, the chief financial officer directly owned 163,832 shares of the company’s stock, valued at $41,831,224.56. This represents a 5.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ARM Price Performance

ARM stock opened at $241.91 on Tuesday. Arm Holdings PLC Sponsored ADR has a 12 month low of $100.02 and a 12 month high of $452.70. The firm’s 50-day moving average is $282.06 and its 200 day moving average is $235.63. The company has a market capitalization of $258.38 billion, a PE ratio of 249.39, a P/E/G ratio of 7.09 and a beta of 3.91.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.05. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.26 billion. ARM had a net margin of 20.25% and a return on equity of 12.24%. The firm’s quarterly revenue was up 22.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.35 EPS. Sell-side analysts forecast that Arm Holdings PLC Sponsored ADR will post 1.15 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of ARM in a research note on Thursday, May 7th. Barclays increased their target price on shares of ARM from $250.00 to $360.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Raymond James Financial restated an “outperform” rating on shares of ARM in a report on Tuesday, August 25th. Benchmark began coverage on shares of ARM in a research report on Thursday, July 16th. They issued a “hold” rating for the company. Finally, New Street Research raised shares of ARM from a “neutral” rating to a “buy” rating and set a $260.00 price objective on the stock in a report on Thursday, July 30th. Eighteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $305.12.

Institutional Trading of ARM

Several hedge funds have recently modified their holdings of ARM. Syntax Research Inc. purchased a new position in shares of ARM in the 1st quarter worth approximately $30,000. Evelyn Partners Investment Management Services Ltd purchased a new stake in ARM during the first quarter valued at approximately $30,000. Allied Private Wealth LLC acquired a new stake in ARM in the second quarter valued at approximately $71,000. FWL Investment Management LLC acquired a new stake in ARM in the second quarter valued at approximately $34,000. Finally, Cassaday & Co Wealth Management LLC purchased a new position in ARM in the first quarter worth $40,000. 7.53% of the stock is owned by hedge funds and other institutional investors.

About ARM

Arm Holdings (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.