ARM (NASDAQ:ARM) Upgraded by Piper Sandler to Strong-Buy Rating

Piper Sandler upgraded shares of ARM (NASDAQ:ARM) to a strong-buy rating in a research note released on Wednesday morning,Zacks reports.

A number of other equities analysts also recently commented on ARM. HSBC downgraded ARM from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $255.00 to $315.00 in a research report on Tuesday, July 14th. Jefferies Financial Group reissued a “buy” rating and issued a $320.00 target price on shares of ARM in a report on Monday, July 20th. New Street Research raised ARM from a “neutral” rating to a “buy” rating and set a $260.00 price target on the stock in a research report on Thursday, July 30th. Rosenblatt Securities reduced their price objective on ARM from $270.00 to $250.00 and set a “buy” rating for the company in a research note on Friday, July 31st. Finally, TD Cowen decreased their price objective on ARM from $475.00 to $350.00 and set a “buy” rating for the company in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $305.72.

ARM Stock Down 3.8%

Shares of ARM stock opened at $254.18 on Wednesday. The firm has a market cap of $271.48 billion, a PE ratio of 262.04, a price-to-earnings-growth ratio of 7.83 and a beta of 3.89. ARM has a 52 week low of $100.02 and a 52 week high of $452.70. The business’s fifty day simple moving average is $266.85 and its 200-day simple moving average is $242.61.

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

Insider Activity

In other news, CFO Jason Child sold 10,400 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer owned 163,832 shares of the company’s stock, valued at $41,831,224.56. The trade was a 5.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Institutional Investors Weigh In On ARM

A number of institutional investors and hedge funds have recently bought and sold shares of ARM. Syntax Research Inc. acquired a new stake in shares of ARM during the 1st quarter worth about $30,000. Evelyn Partners Investment Management Services Ltd purchased a new stake in shares of ARM during the first quarter valued at approximately $30,000. Mcguire Capital Advisors Inc. acquired a new position in shares of ARM in the fourth quarter worth about $30,000. Navalign LLC bought a new position in ARM during the 4th quarter valued at $33,000. Finally, FWL Investment Management LLC bought a new position in ARM during the 2nd quarter worth approximately $34,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

About ARM

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.