Wellington Management Group LLP Sells 846,252 Shares of Arm Holdings PLC Sponsored ADR $ARM

Wellington Management Group LLP reduced its holdings in shares of Arm Holdings PLC Sponsored ADR (NASDAQ:ARM) by 51.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 809,451 shares of the company’s stock after selling 846,252 shares during the quarter. Wellington Management Group LLP’s holdings in ARM were worth $287,007,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Public Employees Retirement System of Ohio purchased a new position in ARM in the 2nd quarter valued at approximately $38,280,000. Ancora Advisors LLC purchased a new stake in shares of ARM during the second quarter worth $358,000. Monetta Financial Services Inc. bought a new position in shares of ARM in the second quarter worth $1,241,000. GoalFusion Wealth Management LLC bought a new position in shares of ARM in the second quarter worth $321,000. Finally, Redhawk Wealth Advisors Inc. purchased a new position in shares of ARM in the second quarter valued at $375,000. 7.53% of the stock is owned by institutional investors.

ARM Stock Performance

ARM stock opened at $239.05 on Monday. Arm Holdings PLC Sponsored ADR has a fifty-two week low of $100.02 and a fifty-two week high of $452.70. The stock has a market cap of $255.32 billion, a P/E ratio of 246.45, a price-to-earnings-growth ratio of 7.09 and a beta of 3.91. The firm’s fifty day moving average price is $285.38 and its 200-day moving average price is $234.81.

ARM (NASDAQ:ARM) last announced its earnings results on Thursday, July 30th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.05. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the business earned $0.35 earnings per share. On average, analysts predict that Arm Holdings PLC Sponsored ADR will post 1.15 earnings per share for the current year.

Insider Transactions at ARM

In other ARM news, CAO Laura Kathleen Bartels sold 11,306 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer directly owned 12,135 shares in the company, valued at $4,765,414.50. This trade represents a 48.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ARM shares. New Street Research raised 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. Barclays upped their price target on ARM from $250.00 to $360.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Sanford C. Bernstein set a $500.00 price objective on shares of ARM in a research note on Wednesday, June 17th. Mizuho upped their target price on shares of ARM from $425.00 to $500.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Finally, Morgan Stanley raised their price target on shares of ARM from $202.00 to $212.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Eighteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $305.12.

ARM Company Profile

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.