ARM Holdings PLC Sponsored ADR $ARM Shares Acquired by E Fund Management Hong Kong Co. Ltd.

E Fund Management Hong Kong Co. Ltd. grew its position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 2,760.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,147 shares of the company’s stock after acquiring an additional 3,037 shares during the period. E Fund Management Hong Kong Co. Ltd.’s holdings in ARM were worth $337,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ARM. Grey Fox Wealth Advisors LLC acquired a new stake in ARM in the 3rd quarter valued at about $28,000. Navalign LLC purchased a new stake in shares of ARM during the fourth quarter worth approximately $33,000. FWL Investment Management LLC purchased a new stake in shares of ARM during the second quarter worth approximately $34,000. Strategic Investment Solutions Inc. IL raised its holdings in ARM by 238.1% in the third quarter. Strategic Investment Solutions Inc. IL now owns 284 shares of the company’s stock valued at $40,000 after acquiring an additional 200 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in ARM in the fourth quarter worth approximately $43,000. 7.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ARM. HSBC upgraded shares of ARM from a “reduce” rating to a “buy” rating and boosted their target price for the stock from $90.00 to $205.00 in a research note on Friday, March 20th. Morgan Stanley reissued an “equal weight” rating and set a $150.00 target price (up from $135.00) on shares of ARM in a research report on Tuesday, April 7th. Royal Bank Of Canada boosted their target price on ARM from $175.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. The Goldman Sachs Group increased their price target on shares of ARM from $125.00 to $150.00 and gave the company a “sell” rating in a research note on Thursday, May 7th. Finally, Wells Fargo & Company raised their price objective on shares of ARM from $220.00 to $255.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Nineteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, ARM presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.61.

Insiders Place Their Bets

In other news, CFO Jason Child sold 21,280 shares of the stock in a transaction that occurred on Wednesday, March 25th. The shares were sold at an average price of $148.37, for a total value of $3,157,313.60. Following the sale, the chief financial officer directly owned 174,706 shares in the company, valued at $25,921,129.22. This represents a 10.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Rene A. Haas sold 23,867 shares of the stock in a transaction that occurred on Wednesday, March 25th. The shares were sold at an average price of $161.17, for a total transaction of $3,846,644.39. Following the completion of the sale, the chief executive officer owned 290,965 shares in the company, valued at $46,894,829.05. This represents a 7.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 135,673 shares of company stock worth $24,616,433.

ARM Stock Up 6.4%

Shares of ARM stock opened at $221.29 on Thursday. ARM Holdings PLC Sponsored ADR has a 52-week low of $100.02 and a 52-week high of $239.50. The company’s 50-day simple moving average is $161.08 and its 200-day simple moving average is $139.70. The firm has a market cap of $233.80 billion, a price-to-earnings ratio of 263.44, a price-to-earnings-growth ratio of 7.17 and a beta of 3.40.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Wednesday, April 1st. The company reported $0.60 earnings per share (EPS) for the quarter. ARM had a net margin of 18.37% and a return on equity of 12.43%. The business had revenue of $1.49 billion for the quarter. Equities research analysts anticipate that ARM Holdings PLC Sponsored ADR will post 1.18 EPS for the current year.

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.