ARM (NASDAQ:ARM) Shares Up 2.2% – What’s Next?

ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) was up 2.2% during mid-day trading on Monday . The stock traded as high as $338.24 and last traded at $322.24. Approximately 5,266,892 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 8,934,582 shares. The stock had previously closed at $315.28.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ARM. Wells Fargo & Company lifted their price target on shares of ARM from $255.00 to $410.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Jefferies Financial Group set a $290.00 price objective on ARM in a report on Thursday, May 21st. Rosenblatt Securities raised their target price on ARM from $175.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Guggenheim lifted their target price on ARM from $240.00 to $255.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $400.00 price target on shares of ARM in a research report on Tuesday, June 16th. Nineteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, ARM has a consensus rating of “Moderate Buy” and a consensus price target of $279.83.

ARM Stock Down 0.1%

The business’s 50 day moving average is $311.37 and its two-hundred day moving average is $193.07. The firm has a market cap of $320.68 billion, a P/E ratio of 357.43, a P/E/G ratio of 11.70 and a beta of 3.76.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Wednesday, April 1st. The company reported $0.60 EPS for the quarter. ARM had a net margin of 18.37% and a return on equity of 12.43%. The business had revenue of $1.49 billion for the quarter. Equities research analysts anticipate that ARM Holdings PLC Sponsored ADR will post 1.12 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Jason Child sold 31,920 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $226.54, for a total transaction of $7,231,156.80. Following the sale, the chief financial officer owned 174,232 shares in the company, valued at $39,470,517.28. This represents a 15.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Laura Kathleen Bartels sold 11,306 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $392.70, for a total value 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. The disclosure for this sale is available in the SEC filing. Insiders have sold 248,205 shares of company stock worth $57,741,572 in the last quarter.

Institutional Trading of ARM

Several hedge funds have recently modified their holdings of the stock. Syntax Research Inc. bought a new position in ARM during the first quarter worth $30,000. Evelyn Partners Investment Management Services Ltd acquired a new stake in ARM in the first quarter worth $30,000. FWL Investment Management LLC bought a new stake in ARM in the second quarter valued at $34,000. Cassaday & Co Wealth Management LLC bought a new stake in ARM in the first quarter valued at $40,000. Finally, Mcguire Capital Advisors Inc. acquired a new position in shares of ARM during the fourth quarter valued at about $30,000. 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.