IKE Capital LLC Boosts Stock Position in Arm Holdings PLC Sponsored ADR $ARM

IKE Capital LLC lifted its stake in shares of Arm Holdings PLC Sponsored ADR (NASDAQ:ARM) by 88.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,331 shares of the company’s stock after acquiring an additional 2,506 shares during the quarter. IKE Capital LLC’s holdings in ARM were worth $1,890,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hyperion Asset Management Ltd raised its stake in ARM by 28.0% during the 4th quarter. Hyperion Asset Management Ltd now owns 1,836,185 shares of the company’s stock worth $200,713,000 after acquiring an additional 401,594 shares during the period. Capital Research Global Investors lifted its holdings in ARM by 5.1% during the fourth quarter. Capital Research Global Investors now owns 1,805,110 shares of the company’s stock valued at $197,332,000 after purchasing an additional 86,978 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of ARM by 0.7% in the fourth quarter. Franklin Resources Inc. now owns 1,461,410 shares of the company’s stock worth $159,747,000 after purchasing an additional 10,385 shares during the period. Employees Provident Fund Board bought a new position in shares of ARM in the fourth quarter worth approximately $120,241,000. Finally, SG Americas Securities LLC boosted its position in shares of ARM by 265.6% in the first quarter. SG Americas Securities LLC now owns 971,067 shares of the company’s stock worth $146,903,000 after purchasing an additional 705,459 shares during the period. 7.53% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Jason Child sold 10,400 shares of the firm’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $255.33, for a total transaction of $2,655,432.00. Following the completion of the transaction, the chief financial officer directly owned 163,832 shares of the company’s stock, valued at approximately $41,831,224.56. This trade represents a 5.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analyst Weigh In

Several analysts have recently commented on ARM shares. Morgan Stanley raised their price objective on shares of ARM from $202.00 to $212.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Guggenheim restated a “buy” rating and set a $255.00 target price on shares of ARM in a research note on Thursday, July 30th. Raymond James Financial reaffirmed an “outperform” rating on shares of ARM in a report on Tuesday, August 25th. New Street Research upgraded ARM from a “neutral” rating to a “buy” rating and set a $260.00 price target for the company in a research note on Thursday, July 30th. Finally, KeyCorp raised their price target on ARM from $300.00 to $430.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. One investment 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $305.72.

ARM Stock Performance

ARM traded up $2.15 during trading on Wednesday, reaching $243.98. 2,654,397 shares of the company traded hands, compared to its average volume of 7,782,193. Arm Holdings PLC Sponsored ADR has a 12-month low of $100.02 and a 12-month high of $452.70. The firm has a fifty day simple moving average of $261.88 and a 200 day simple moving average of $245.97. The company has a market cap of $260.59 billion, a P/E ratio of 251.53, a PEG ratio of 7.09 and a beta of 3.89.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.05. ARM had a net margin of 20.25% and a return on equity of 12.24%. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the business posted $0.35 earnings per share. The company’s revenue for the quarter was up 22.4% compared to the same quarter last year. As a group, sell-side analysts expect that Arm Holdings PLC Sponsored ADR will post 1.15 earnings per share for the current fiscal year.

ARM Profile

Arm Holdings plc is a semiconductor and software intellectual property company headquartered in Cambridge, England. Rather than manufacturing chips, Arm develops processor architectures and technology designs that it licenses to semiconductor companies, device manufacturers and other technology businesses for use in their own products.

Arm’s portfolio includes central processing unit (CPU) architectures and processor cores, graphics processing units (GPUs), systems IP, interconnect technology, security solutions and related software and development tools.