ARM’s (ARM) Equal Weight Rating Reaffirmed at Morgan Stanley

ARM (NASDAQ:ARM)‘s stock had its “equal weight” rating reaffirmed by Morgan Stanley in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $150.00 price target on the stock, up from their previous price target of $135.00. Morgan Stanley’s price objective points to a potential upside of 0.83% from the company’s previous close.

A number of other equities research analysts also recently commented on the company. Susquehanna raised ARM from a “neutral” rating to a “positive” rating and set a $150.00 price objective for the company in a research report on Wednesday, January 21st. Jefferies Financial Group set a $170.00 price objective on ARM in a research report on Thursday, February 5th. Citigroup cut ARM from a “buy” rating to a “hold” rating in a report on Tuesday, January 13th. Wells Fargo & Company lifted their target price on ARM from $165.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, April 1st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of ARM in a report on Wednesday, January 21st. Eighteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $172.13.

ARM Stock Down 0.2%

Shares of NASDAQ:ARM opened at $148.77 on Tuesday. The company has a market cap of $157.18 billion, a P/E ratio of 198.36, a P/E/G ratio of 6.65 and a beta of 3.33. ARM has a 52 week low of $80.00 and a 52 week high of $183.16. The business has a fifty day simple moving average of $126.75 and a 200-day simple moving average of $134.00.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Thursday, February 5th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.23 billion. ARM had a return on equity of 14.01% and a net margin of 17.15%.The business’s revenue for the quarter was up 26.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.39 earnings per share. Sell-side analysts expect that ARM will post 0.9 earnings per share for the current fiscal year.

Insider Transactions at ARM

In other ARM news, CFO Jason Child sold 21,280 shares of the business’s stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of $148.37, for a total transaction of $3,157,313.60. Following the transaction, the chief financial officer owned 174,706 shares in the company, valued at $25,921,129.22. The trade was a 10.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Rene A. Haas sold 23,867 shares of the business’s stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of $161.17, for a total value of $3,846,644.39. Following the transaction, the chief executive officer owned 290,965 shares in the company, valued at approximately $46,894,829.05. This represents a 7.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 53,133 shares of company stock worth $8,288,586.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ARM. Amundi lifted its stake in shares of ARM by 24.8% during the first quarter. Amundi now owns 11,804 shares of the company’s stock worth $1,153,000 after purchasing an additional 2,345 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of ARM by 28.8% during the first quarter. Empowered Funds LLC now owns 4,887 shares of the company’s stock worth $522,000 after purchasing an additional 1,094 shares in the last quarter. Schnieders Capital Management LLC. lifted its stake in shares of ARM by 9.0% during the second quarter. Schnieders Capital Management LLC. now owns 2,430 shares of the company’s stock worth $393,000 after purchasing an additional 200 shares in the last quarter. Beacon Pointe Advisors LLC acquired a new position in shares of ARM during the second quarter worth about $277,000. Finally, Bank of Nova Scotia acquired a new position in shares of ARM during the second quarter worth about $556,000. Institutional investors and hedge funds own 7.53% of the company’s stock.

About ARM

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.