ARM (NASDAQ:ARM) Coverage Initiated by Analysts at Benchmark

Analysts at Benchmark began coverage on shares of ARM (NASDAQ:ARM) in a research report issued to clients and investors on Thursday. The brokerage set a “hold” rating on the stock.

Other research analysts have also issued reports about the stock. Bank of America lifted their price objective on shares of ARM from $335.00 to $460.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 23rd. Raymond James Financial restated an “outperform” rating on shares of ARM in a report on Thursday, May 7th. Morgan Stanley reaffirmed an “equal weight” rating and set a $150.00 price target (up from $135.00) on shares of ARM in a research note on Tuesday, April 7th. Royal Bank Of Canada upped their price target on shares of ARM from $175.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Finally, Barclays increased their price objective on shares of ARM from $250.00 to $360.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Seventeen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $298.96.

ARM Price Performance

Shares of NASDAQ:ARM traded down $18.34 during trading on Thursday, hitting $258.68. The company had a trading volume of 1,135,726 shares, compared to its average volume of 8,724,089. The stock has a market cap of $276.29 billion, a price-to-earnings ratio of 308.92, a price-to-earnings-growth ratio of 10.21 and a beta of 3.76. The company has a fifty day simple moving average of $322.09 and a two-hundred day simple moving average of $201.05. ARM has a one year low of $100.02 and a one year high of $452.70.

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

Insider Activity at ARM

In other news, insider Charlotte Claire Eaton sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $282.77, for a total transaction of $1,131,080.00. Following the transaction, the insider directly owned 7,805 shares of the company’s stock, valued at approximately $2,207,019.85. This trade represents a 33.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Laura Kathleen Bartels sold 11,306 shares of ARM stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $392.70, for a total transaction of $4,439,866.20. Following the sale, the chief accounting officer directly owned 12,135 shares of the company’s stock, valued at $4,765,414.50. This represents a 48.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 238,906 shares of company stock worth $56,245,828.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Morgan Stanley raised its position in ARM by 1.2% during the 4th quarter. Morgan Stanley now owns 3,783,006 shares of the company’s stock valued at $413,521,000 after purchasing an additional 45,314 shares in the last quarter. Invesco Ltd. grew its position in shares of ARM by 36.9% during the 4th quarter. Invesco Ltd. now owns 2,426,850 shares of the company’s stock worth $265,279,000 after buying an additional 654,727 shares in the last quarter. Coatue Management LLC increased its stake in shares of ARM by 1.8% during the fourth quarter. Coatue Management LLC now owns 2,300,000 shares of the company’s stock valued at $251,413,000 after buying an additional 40,174 shares during the period. Wellington Management Group LLP increased its stake in shares of ARM by 41.6% during the fourth quarter. Wellington Management Group LLP now owns 2,149,159 shares of the company’s stock valued at $234,925,000 after buying an additional 631,576 shares during the period. Finally, Schroder Investment Management Group increased its stake in shares of ARM by 11.0% during the fourth quarter. Schroder Investment Management Group now owns 1,891,310 shares of the company’s stock valued at $206,739,000 after buying an additional 187,035 shares during the period. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

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.