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

Benchmark initiated coverage on shares of ARM (NASDAQ:ARM) in a research note issued to investors on Thursday. The brokerage set a “hold” rating on the stock.

A number of other analysts also recently issued reports on the stock. TD Cowen raised their price target on shares of ARM from $265.00 to $475.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Susquehanna increased their price objective 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. Needham & Company LLC restated a “buy” rating and issued a $400.00 target price on shares of ARM in a report on Tuesday, June 16th. Guggenheim lifted their target price on shares of ARM from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, The Goldman Sachs Group boosted their target price on shares of ARM from $125.00 to $150.00 and gave the company a “sell” rating in a research note on Thursday, May 7th. Seventeen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, ARM presently has a consensus rating of “Moderate Buy” and an average target price of $298.96.

ARM Trading Down 6.6%

ARM traded down $18.34 during trading on Thursday, hitting $258.68. 1,135,726 shares of the company’s stock traded hands, compared to its average volume of 8,724,089. The stock has a market capitalization of $276.29 billion, a price-to-earnings ratio of 308.92, a PEG ratio of 10.21 and a beta of 3.76. The company’s 50 day simple moving average is $322.09 and its two-hundred day simple moving average is $201.05. ARM has a 12-month low of $100.02 and a 12-month high of $452.70.

ARM (NASDAQ:ARM) last announced its quarterly earnings results on Wednesday, April 1st. The company reported $0.60 earnings per share (EPS) 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 analysts expect that ARM will post 1.12 EPS for the current year.

Insiders Place Their Bets

In other news, insider William Abbey sold 10,887 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $224.14, for a total transaction of $2,440,212.18. Following the completion of the sale, the insider owned 43,353 shares of the company’s stock, valued at $9,717,141.42. The trade was a 20.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jason Child sold 31,920 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $226.54, for a total value of $7,231,156.80. Following the completion of the sale, the chief financial officer owned 174,232 shares of the company’s stock, valued at $39,470,517.28. This trade represents a 15.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 238,906 shares of company stock valued at $56,245,828.

Institutional Trading of ARM

Several hedge funds have recently bought and sold shares of ARM. Rathbones Group PLC boosted its stake in ARM by 4,638.8% during the fourth quarter. Rathbones Group PLC now owns 500,043 shares of the company’s stock valued at $54,660,000 after buying an additional 489,491 shares during the last quarter. Paragon Capital Management Inc. purchased a new stake in shares of ARM during the 4th quarter worth approximately $826,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of ARM by 34.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,188 shares of the company’s stock worth $2,644,000 after acquiring an additional 6,232 shares in the last quarter. Partners Group Holding AG bought a new stake in ARM in the fourth quarter worth $798,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in ARM by 13.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 417,775 shares of the company’s stock valued at $45,667,000 after purchasing an additional 49,811 shares during the last quarter. Institutional investors own 7.53% of the company’s stock.

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.