ARM (NASDAQ:ARM) Price Target Raised to $360.00

ARM (NASDAQ:ARM) had its price objective hoisted by analysts at Mizuho from $290.00 to $360.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s target price would indicate a potential upside of 18.93% from the stock’s previous close.

A number of other equities analysts have also commented on ARM. Morgan Stanley restated an “equal weight” rating and issued a $150.00 price target (up from $135.00) on shares of ARM in a research report on Tuesday, April 7th. HSBC upgraded shares of ARM from a “reduce” rating to a “buy” rating and boosted their price target for the company from $90.00 to $205.00 in a research report on Friday, March 20th. TD Cowen boosted their price target on shares of ARM from $165.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Susquehanna boosted their price target on shares of ARM from $170.00 to $210.00 and gave the company a “positive” rating in a research report on Thursday, April 16th. Finally, Wells Fargo & Company boosted their price target on shares of ARM from $220.00 to $255.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Twenty equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, ARM presently has an average rating of “Moderate Buy” and an average target price of $213.17.

ARM Stock Performance

Shares of ARM stock opened at $302.71 on Thursday. The firm’s 50-day simple moving average is $190.61 and its 200-day simple moving average is $146.68. ARM has a twelve month low of $100.02 and a twelve month high of $325.00. The firm has a market cap of $319.82 billion, a P/E ratio of 360.37, a price-to-earnings-growth ratio of 11.67 and a beta of 3.40.

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

Insider Activity at ARM

In related news, insider Spencer Collins sold 51,961 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were 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. The trade was a 50.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Richard Roy Grisenthwaite sold 24,339 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $209.15, for a total transaction of $5,090,501.85. Following the sale, the insider directly owned 5,543 shares of the company’s stock, valued at approximately $1,159,318.45. This trade represents a 81.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 279,266 shares of company stock valued at $57,502,031 in the last three months.

Institutional Investors Weigh In On ARM

Institutional investors and hedge funds have recently modified their holdings of the business. Syntax Research Inc. bought a new stake in shares of ARM during the first quarter worth approximately $30,000. Evelyn Partners Investment Management Services Ltd bought a new stake in shares of ARM during the first quarter worth approximately $30,000. Mcguire Capital Advisors Inc. bought a new stake in shares of ARM during the fourth quarter worth approximately $30,000. Navalign LLC bought a new stake in shares of ARM during the fourth quarter worth approximately $33,000. Finally, FWL Investment Management LLC bought a new stake in ARM in the second quarter valued at approximately $34,000. 7.53% of the stock is owned by 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.