10,000 Shares in ARM Holdings PLC Sponsored ADR $ARM Bought by Sona Asset Management US LLC

Sona Asset Management US LLC purchased a new stake in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 10,000 shares of the company’s stock, valued at approximately $1,513,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CreativeOne Wealth LLC raised its position in shares of ARM by 5.0% in the fourth quarter. CreativeOne Wealth LLC now owns 1,830 shares of the company’s stock worth $200,000 after acquiring an additional 87 shares during the period. AdvisorNet Financial Inc grew its position in shares of ARM by 6.2% during the 1st quarter. AdvisorNet Financial Inc now owns 1,681 shares of the company’s stock valued at $254,000 after acquiring an additional 98 shares during the period. Moors & Cabot Inc. increased its stake in shares of ARM by 5.3% in the 3rd quarter. Moors & Cabot Inc. now owns 2,050 shares of the company’s stock valued at $290,000 after purchasing an additional 103 shares in the last quarter. Heritage Trust Co increased its stake in shares of ARM by 5.5% in the 4th quarter. Heritage Trust Co now owns 2,045 shares of the company’s stock valued at $224,000 after purchasing an additional 107 shares in the last quarter. Finally, TrueMark Investments LLC raised its holdings in ARM by 1.4% in the 1st quarter. TrueMark Investments LLC now owns 7,592 shares of the company’s stock worth $1,149,000 after purchasing an additional 107 shares during the period. Hedge funds and other institutional investors own 7.53% of the company’s stock.

ARM Price Performance

Shares of NASDAQ:ARM opened at $260.01 on Monday. ARM Holdings PLC Sponsored ADR has a 1 year low of $100.02 and a 1 year high of $452.70. The firm has a market capitalization of $277.71 billion, a PE ratio of 309.54, a P/E/G ratio of 8.08 and a beta of 3.76. The business’s 50 day moving average price is $330.27 and its 200-day moving average price is $209.03.

ARM (NASDAQ:ARM) last posted its quarterly earnings data on Wednesday, April 1st. The company reported $0.60 EPS for the quarter. The firm had revenue of $1.49 billion during the quarter. ARM had a return on equity of 12.43% and a net margin of 18.37%. As a group, analysts expect that ARM Holdings PLC Sponsored ADR will post 1.12 earnings per share for the current year.

Insider Buying and Selling at ARM

In other news, CAO Laura Kathleen Bartels sold 11,306 shares of the company’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 completion of the sale, the chief accounting officer owned 12,135 shares of the company’s stock, valued at $4,765,414.50. This represents a 48.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider William Abbey sold 6,566 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $402.72, for a total transaction of $2,644,259.52. Following the completion of the sale, the insider owned 20,563 shares of the company’s stock, valued at $8,281,131.36. This trade represents a 24.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 216,049 shares of company stock worth $52,101,605.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Jefferies Financial Group reiterated a “buy” rating and set a $320.00 price target on shares of ARM in a research report on Monday, July 20th. Rosenblatt Securities boosted their price objective on ARM from $175.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 target price on shares of ARM in a research note on Tuesday, June 16th. UBS Group decreased their target price on ARM from $470.00 to $360.00 and set a “buy” rating on the stock in a research report on Monday, July 20th. Finally, Wells Fargo & Company dropped their price target on shares of ARM from $410.00 to $350.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 22nd. Seventeen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, ARM has a consensus rating of “Moderate Buy” and an average price target of $297.65.

ARM Company 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.