ARM (NASDAQ:ARM) Trading 2.8% Higher – Here’s Why

ARM Holdings PLC Sponsored ADR (NASDAQ:ARM)’s stock price shot up 2.8% during mid-day trading on Monday . The company traded as high as $346.15 and last traded at $343.58. 8,343,041 shares traded hands during mid-day trading, a decline of 8% from the average daily volume of 9,029,826 shares. The stock had previously closed at $334.27.

Analyst Ratings Changes

Several equities analysts have issued reports on ARM shares. Mizuho boosted their target price on ARM from $425.00 to $500.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Susquehanna lifted their price objective on ARM from $170.00 to $210.00 and gave the stock a “positive” rating in a research report on Thursday, April 16th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of ARM in a report on Thursday, May 7th. Wells Fargo & Company lifted their price target on ARM from $255.00 to $410.00 and gave the company an “overweight” rating in a report on Monday, June 1st. Finally, TD Cowen increased their target price on ARM from $265.00 to $475.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Nineteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $279.83.

ARM Stock Down 4.8%

The firm has a market cap of $360.44 billion, a price-to-earnings ratio of 401.75, a PEG ratio of 12.48 and a beta of 3.78. The company has a 50 day moving average of $299.29 and a 200 day moving average of $186.28.

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

Insider Transactions at ARM

In other ARM news, CAO Laura Kathleen Bartels sold 11,306 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $392.70, for a total value of $4,439,866.20. Following the sale, the chief accounting officer owned 12,135 shares in the company, valued at approximately $4,765,414.50. This trade represents a 48.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William Abbey sold 10,887 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $224.14, for a total value of $2,440,212.18. Following the transaction, the insider owned 43,353 shares of the company’s stock, valued at $9,717,141.42. This trade represents a 20.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 248,205 shares of company stock valued at $57,741,572 over the last ninety days.

Hedge Funds Weigh In On ARM

Several hedge funds have recently modified their holdings of the company. Compound Planning Inc. lifted its stake in ARM by 4.6% during the third quarter. Compound Planning Inc. now owns 1,569 shares of the company’s stock valued at $222,000 after purchasing an additional 69 shares during the last quarter. Rathbones Group PLC grew its stake in ARM by 0.7% during the 3rd quarter. Rathbones Group PLC now owns 10,552 shares of the company’s stock valued at $1,493,000 after acquiring an additional 70 shares in the last quarter. CreativeOne Wealth LLC increased its stake in ARM by 5.0% in the 4th quarter. CreativeOne Wealth LLC now owns 1,830 shares of the company’s stock valued at $200,000 after buying an additional 87 shares during the period. AdvisorNet Financial Inc raised its holdings in shares of ARM by 6.2% during the first quarter. AdvisorNet Financial Inc now owns 1,681 shares of the company’s stock worth $254,000 after acquiring an additional 98 shares in the last quarter. Finally, US Bancorp DE lifted its holdings in shares of ARM by 1.6% during the 3rd quarter. US Bancorp DE now owns 6,485 shares of the company’s stock valued at $918,000 after buying an additional 99 shares during the last quarter. 7.53% of the stock is currently owned by institutional investors and hedge funds.

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.