ARM (NASDAQ:ARM) Price Target Raised to $460.00 at Bank of America

ARM (NASDAQ:ARM) had its price target upped by analysts at Bank of America from $335.00 to $460.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Bank of America‘s price objective indicates a potential upside of 12.82% from the stock’s previous close.

A number of other equities analysts also recently commented on ARM. TD Cowen lifted their target price on shares of ARM from $165.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Royal Bank Of Canada increased their price target on shares of ARM from $175.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Morgan Stanley restated an “equal weight” rating and set a $150.00 price target (up from $135.00) on shares of ARM in a report on Tuesday, April 7th. HSBC raised shares of ARM from a “reduce” rating to a “buy” rating and lifted their price target for the company from $90.00 to $205.00 in a research report on Friday, March 20th. Finally, Mizuho increased their price objective on ARM from $425.00 to $500.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Nineteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, ARM currently has an average rating of “Moderate Buy” and a consensus price target of $258.58.

ARM Stock Down 7.2%

Shares of NASDAQ:ARM opened at $407.72 on Tuesday. ARM has a 52-week low of $100.02 and a 52-week high of $452.70. The stock has a market cap of $435.48 billion, a P/E ratio of 485.38, a PEG ratio of 15.96 and a beta of 3.77. The business has a fifty day moving average of $276.32 and a two-hundred day moving average of $177.41.

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

Insider Activity at ARM

In other news, CEO Rene A. Haas sold 23,867 shares of the business’s stock in a transaction that occurred on Wednesday, March 25th. The shares were sold at an average price of $161.17, for a total value of $3,846,644.39. Following the sale, the chief executive officer directly owned 290,965 shares of the company’s stock, valued at approximately $46,894,829.05. The trade was a 7.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jason Child sold 31,920 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $226.54, for a total transaction of $7,231,156.80. Following the completion of the transaction, the chief financial officer owned 174,232 shares in the company, valued at approximately $39,470,517.28. This represents a 15.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 301,338 shares of company stock valued at $66,030,158 over the last quarter.

Institutional Trading of ARM

Several institutional investors have recently added to or reduced their stakes in ARM. Syntax Research Inc. acquired a new position in ARM during the first quarter worth $30,000. Evelyn Partners Investment Management Services Ltd acquired a new stake in shares of ARM in the first quarter valued at $30,000. Mcguire Capital Advisors Inc. purchased a new stake in shares of ARM in the 4th quarter valued at $30,000. Navalign LLC purchased a new stake in shares of ARM in the 4th quarter valued at $33,000. Finally, FWL Investment Management LLC acquired a new position in ARM during the 2nd quarter worth about $34,000. Institutional investors and hedge funds own 7.53% of the company’s stock.

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.