Arm Holdings PLC Sponsored ADR (NASDAQ:ARM) Stock Has Average Target Price of $291.72

Arm Holdings PLC Sponsored ADR (NASDAQ:ARM) has been assigned an average recommendation of “Moderate Buy” from the twenty-seven ratings firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $291.72.

A number of brokerages have weighed in on ARM. Wells Fargo & Company decreased their price target on shares of ARM from $280.00 to $255.00 and set an “overweight” rating on the stock in a report on Thursday. The Goldman Sachs Group restated a “sell” rating and set a $160.00 price objective on shares of ARM in a report on Thursday. Barclays cut their target price on ARM from $360.00 to $325.00 and set an “overweight” rating on the stock in a research report on Thursday. UBS Group cut their target price on ARM from $320.00 to $270.00 and set a “buy” rating on the stock in a research report on Thursday, November 5th. Finally, Royal Bank Of Canada reduced their target price on ARM from $340.00 to $300.00 and set an “outperform” rating on the stock in a report on Thursday.

Insider Buying and Selling

In other news, CFO Jason Child sold 10,400 shares of the firm’s stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $300.00, for a total value of $3,120,000.00. Following the transaction, the chief financial officer directly owned 153,442 shares in the company, valued at $46,032,600. This trade represents a 6.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Institutional Trading of ARM

A number of institutional investors have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership lifted its position in ARM by 1,203.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 945,152 shares of the company’s stock valued at $142,983,000 after buying an additional 872,644 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in ARM during the first quarter worth approximately $116,112,000. Hyperion Asset Management Ltd increased its position in shares of ARM by 36.9% in the third quarter. Hyperion Asset Management Ltd now owns 727,273 shares of the company’s stock worth $210,662,000 after acquiring an additional 195,942 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of ARM in the third quarter worth $179,998,000. Finally, Altshuler Shaham Ltd increased its position in shares of ARM by 202.6% in the first quarter. Altshuler Shaham Ltd now owns 478,289 shares of the company’s stock worth $72,356,000 after acquiring an additional 320,236 shares in the last quarter. Hedge funds and other institutional investors own 7.53% of the company’s stock.

ARM Price Performance

Shares of ARM stock opened at $186.30 on Friday. The firm has a market cap of $198.98 billion, a P/E ratio of 214.14, a PEG ratio of 5.60 and a beta of 3.93. ARM has a 1-year low of $100.02 and a 1-year high of $452.70. The firm’s 50-day simple moving average is $251.72 and its 200-day simple moving average is $230.29.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, November 4th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. ARM had a net margin of 17.13% and a return on equity of 11.86%. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the firm earned $0.39 earnings per share. ARM’s revenue was up 27.1% compared to the same quarter last year. Analysts expect that ARM will post 1.17 earnings per share for the current fiscal year.

ARM Company Profile

Arm Holdings plc designs and licenses semiconductor technology, including processor architectures and related intellectual property. Rather than manufacturing chips, the company licenses its designs and collects royalties on products that use them.

Arm’s offerings include Cortex CPUs, Mali graphics processors, Neoverse infrastructure platforms and other technology for applications ranging from smartphones and consumer electronics to automotive systems, the Internet of Things and cloud computing.