ARM (NASDAQ:ARM) Stock Rating Upgraded by Piper Sandler

ARM (NASDAQ:ARM) was upgraded by analysts at Piper Sandler to a “strong-buy” rating in a report released on Wednesday, Zacks reports.

Several other equities analysts have also issued reports on ARM. Wells Fargo & Company dropped their price objective on ARM from $350.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. New Street Research raised ARM from a “neutral” rating to a “buy” rating and set a $260.00 target price for the company in a report on Thursday, July 30th. Bank of America reissued a “neutral” rating on shares of ARM in a research report on Thursday, July 30th. Raymond James Financial restated an “outperform” rating on shares of ARM in a research note on Tuesday, August 25th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $320.00 price objective on shares of ARM in a report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $305.72.

ARM Trading Down 3.8%

Shares of ARM stock opened at $254.18 on Wednesday. The company has a fifty day simple moving average of $266.85 and a 200-day simple moving average of $242.61. ARM has a 12-month low of $100.02 and a 12-month high of $452.70. The stock has a market cap of $271.48 billion, a price-to-earnings ratio of 262.04, a PEG ratio of 7.83 and a beta of 3.89.

ARM (NASDAQ:ARM) last posted its earnings results on Thursday, July 30th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05. ARM had a net margin of 20.25% and a return on equity of 12.24%. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period last year, the firm posted $0.35 EPS. The company’s revenue was up 22.4% on a year-over-year basis. On average, analysts forecast that ARM will post 1.15 earnings per share for the current fiscal year.

Insider Buying and Selling at ARM

In related news, CFO Jason Child sold 10,400 shares of the firm’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $255.33, for a total transaction of $2,655,432.00. Following the transaction, the chief financial officer owned 163,832 shares of the company’s stock, valued at $41,831,224.56. This trade represents a 5.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Institutional Trading of ARM

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley grew its stake in shares of ARM by 1.2% in 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 during the last quarter. Invesco Ltd. lifted its holdings in shares of ARM by 36.9% during the fourth quarter. Invesco Ltd. now owns 2,426,850 shares of the company’s stock worth $265,279,000 after purchasing an additional 654,727 shares during the period. Coatue Management LLC lifted its holdings 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 worth $251,413,000 after purchasing an additional 40,174 shares during the period. Wellington Management Group LLP grew its position in ARM by 41.6% in the 4th 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 last quarter. Finally, Schroder Investment Management Group increased its stake in ARM by 11.0% in the 4th 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 owned by hedge funds and other institutional investors.

ARM Company Profile

Arm Holdings plc is a semiconductor and software intellectual property company headquartered in Cambridge, England. Rather than manufacturing chips, Arm develops processor architectures and technology designs that it licenses to semiconductor companies, device manufacturers and other technology businesses for use in their own products.

Arm’s portfolio includes central processing unit (CPU) architectures and processor cores, graphics processing units (GPUs), systems IP, interconnect technology, security solutions and related software and development tools.