ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) Receives Average Rating of “Moderate Buy” from Brokerages

ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) has received an average recommendation of “Moderate Buy” from the twenty-seven analysts that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and twenty have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $230.0417.

Several research analysts have issued reports on ARM shares. TD Cowen increased their price objective on ARM from $165.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Susquehanna boosted their target price on shares of ARM from $170.00 to $210.00 and gave the company a “positive” rating in a research note on Thursday, April 16th. Jefferies Financial Group set a $290.00 target price on shares of ARM in a report on Thursday, May 21st. Mizuho increased their target price on shares of ARM from $425.00 to $500.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of ARM in a report on Monday, April 20th.

Insider Buying and Selling

In related news, insider Spencer Collins sold 51,961 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $211.73, for a total transaction of $11,001,702.53. Following the completion of the sale, the insider directly owned 51,125 shares of the company’s stock, valued at $10,824,696.25. This trade represents a 50.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Laura Kathleen Bartels sold 11,306 shares of the firm’s stock in a transaction 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 completion of the sale, the chief accounting officer owned 12,135 shares of the company’s stock, valued at approximately $4,765,414.50. This trade represents a 48.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 301,338 shares of company stock valued at $66,030,158 in the last ninety days.

Hedge Funds Weigh In On ARM

Several large investors have recently made changes to their positions in ARM. Amundi grew 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 during the period. Empowered Funds LLC grew its holdings in shares of ARM by 28.8% in the 1st quarter. Empowered Funds LLC now owns 4,887 shares of the company’s stock valued at $522,000 after buying an additional 1,094 shares during the period. Schnieders Capital Management LLC. increased its position in shares of ARM by 9.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 2,430 shares of the company’s stock valued at $393,000 after buying an additional 200 shares in the last quarter. Bank of Nova Scotia acquired a new stake in ARM during the 2nd quarter worth $556,000. Finally, State Street Corp grew its stake in ARM by 14.7% in the second quarter. State Street Corp now owns 441,445 shares of the company’s stock valued at $71,399,000 after acquiring an additional 56,656 shares during the period. Institutional investors and hedge funds own 7.53% of the company’s stock.

ARM Trading Down 6.2%

NASDAQ ARM opened at $324.86 on Wednesday. ARM has a 1-year low of $100.02 and a 1-year high of $427.99. The company has a market capitalization of $346.98 billion, a price-to-earnings ratio of 386.74, a PEG ratio of 12.58 and a beta of 3.78. The stock’s 50 day moving average is $232.08 and its two-hundred day moving average is $160.91.

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

ARM Company Profile

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.