Oppenheimer & Co. Inc. Acquires 10,151 Shares of Arm Holdings PLC Sponsored ADR $ARM

Oppenheimer & Co. Inc. lifted its holdings in shares of Arm Holdings PLC Sponsored ADR (NASDAQ:ARM) by 28.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 45,623 shares of the company’s stock after purchasing an additional 10,151 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in ARM were worth $13,215,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ARM. Arrowstreet Capital Limited Partnership boosted its stake in shares of ARM by 1,203.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 945,152 shares of the company’s stock valued at $142,983,000 after purchasing an additional 872,644 shares during the period. Janus Henderson Group PLC acquired a new position in shares of ARM in the first quarter valued at approximately $116,112,000. Hyperion Asset Management Ltd grew its holdings in shares of ARM by 36.9% in the third quarter. Hyperion Asset Management Ltd now owns 727,273 shares of the company’s stock valued at $210,662,000 after purchasing an additional 195,942 shares in the last quarter. Altshuler Shaham Ltd grew its holdings in shares of ARM by 202.6% in the first quarter. Altshuler Shaham Ltd now owns 478,289 shares of the company’s stock valued at $72,356,000 after purchasing an additional 320,236 shares in the last quarter. Finally, Sei Investments Co. increased its stake in ARM by 67.5% during the 1st quarter. Sei Investments Co. now owns 454,220 shares of the company’s stock worth $68,714,000 after buying an additional 183,045 shares during the period. Institutional investors and hedge funds own 7.53% of the company’s stock.

ARM Stock Performance

Shares of ARM stock opened at $226.60 on Wednesday. Arm Holdings PLC Sponsored ADR has a one year low of $100.02 and a one year high of $452.70. The company has a market cap of $242.03 billion, a PE ratio of 233.61 and a beta of 3.78. The business has a 50-day simple moving average of $260.38 and a 200-day simple moving average of $226.25.

ARM (NASDAQ:ARM) last released its earnings results on Thursday, July 30th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.05. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the company posted $0.35 earnings per share. The firm’s quarterly revenue was up 22.4% on a year-over-year basis. On average, sell-side analysts predict that Arm Holdings PLC Sponsored ADR will post 1.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Jason Child sold 10,400 shares of the company’s stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $300.00, for a total transaction of $3,120,000.00. Following the completion of the transaction, the chief financial officer directly owned 153,442 shares of the company’s stock, valued at approximately $46,032,600. This represents a 6.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ARM. Weiss Ratings reiterated a “hold (c)” rating on shares of ARM in a report on Thursday, October 15th. Rosenblatt Securities decreased their price target on shares of ARM from $270.00 to $250.00 and set a “buy” rating for the company in a research report on Friday, July 31st. HSBC downgraded shares of ARM from a “buy” rating to a “hold” rating and boosted their price target for the stock from $255.00 to $315.00 in a research note on Tuesday, July 14th. Bank of America reaffirmed a “neutral” rating and set a $335.00 price objective (up from $245.00) on shares of ARM in a research report on Thursday, July 30th. Finally, TD Cowen cut their price objective on ARM from $475.00 to $350.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $303.32.

ARM Company Profile

Arm Holdings plc (NASDAQ: ARM) is a semiconductor and software design company that develops central processing unit (CPU) architectures and related intellectual property. Rather than manufacturing chips itself, Arm licenses its designs and instruction-set architectures to semiconductor companies and technology manufacturers, which incorporate them into their own products.

The company’s offerings include CPU processor cores, graphics processing units through its Mali product family, system IP, development tools and software.