Tower View Wealth Management LLC Sells 2,457 Shares of ARM Holdings PLC Sponsored ADR $ARM

Tower View Wealth Management LLC decreased its holdings in ARM Holdings PLC Sponsored ADR (NASDAQ:ARMFree Report) by 12.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,695 shares of the company’s stock after selling 2,457 shares during the period. ARM accounts for about 1.4% of Tower View Wealth Management LLC’s holdings, making the stock its 28th biggest position. Tower View Wealth Management LLC’s holdings in ARM were worth $2,677,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Amundi raised its holdings in ARM by 24.8% during the 1st quarter. Amundi now owns 11,804 shares of the company’s stock valued at $1,153,000 after acquiring an additional 2,345 shares during the period. Empowered Funds LLC boosted its holdings in shares of ARM by 28.8% in the first quarter. Empowered Funds LLC now owns 4,887 shares of the company’s stock worth $522,000 after acquiring an additional 1,094 shares during the period. Schnieders Capital Management LLC. boosted its holdings in shares of ARM by 9.0% in the second quarter. Schnieders Capital Management LLC. now owns 2,430 shares of the company’s stock worth $393,000 after acquiring an additional 200 shares during the period. Bank of Nova Scotia purchased a new position in shares of ARM in the second quarter valued at $556,000. Finally, State Street Corp raised its stake in shares of ARM by 14.7% during the 2nd quarter. State Street Corp now owns 441,445 shares of the company’s stock valued at $71,399,000 after purchasing an additional 56,656 shares during the period. Institutional investors own 7.53% of the company’s stock.

ARM Trading Down 3.2%

Shares of NASDAQ ARM opened at $347.71 on Friday. The business has a 50-day moving average of $288.40 and a 200-day moving average of $181.99. The firm has a market capitalization of $371.38 billion, a price-to-earnings ratio of 413.94, a PEG ratio of 13.04 and a beta of 3.78. ARM Holdings PLC Sponsored ADR has a 12 month low of $100.02 and a 12 month high of $452.70.

ARM (NASDAQ:ARMGet Free Report) last announced its earnings results on Wednesday, April 1st. The company reported $0.60 earnings per share for the quarter. The business had revenue of $1.49 billion for the quarter. ARM had a net margin of 18.37% and a return on equity of 12.43%. On average, analysts predict that ARM Holdings PLC Sponsored ADR will post 1.12 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ARM shares. Jefferies Financial Group set a $290.00 price objective on ARM in a report on Thursday, May 21st. New Street Research cut ARM from a “buy” rating to a “neutral” rating in a research report on Thursday, June 18th. Rosenblatt Securities increased their price target on shares of ARM from $175.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Wells Fargo & Company raised their price objective on shares of ARM from $255.00 to $410.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Finally, HSBC upgraded shares of ARM from a “reduce” rating to a “buy” rating and raised their price objective for the company from $90.00 to $205.00 in a research report on Friday, March 20th. Nineteen 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $279.83.

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Insider Transactions at ARM

In related news, insider Charlotte Claire Eaton sold 4,000 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $282.77, for a total transaction of $1,131,080.00. Following the transaction, the insider directly owned 7,805 shares of the company’s stock, valued at approximately $2,207,019.85. This trade represents a 33.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider William Abbey sold 6,566 shares of ARM stock in a transaction that occurred 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 $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. In the last three months, insiders sold 248,205 shares of company stock worth $57,741,572.

ARM Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ARM (NASDAQ:ARM)

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