ARM (NASDAQ:ARM) Trading Up 2.8% – Here’s What Happened

Shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) traded up 2.8% on Monday . The company traded as high as $215.50 and last traded at $215.12. 8,352,985 shares were traded during trading, an increase of 7% from the average session volume of 7,821,017 shares. The stock had previously closed at $209.16.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ARM in a report on Monday, April 20th. HSBC raised shares of ARM from a “reduce” rating to a “buy” rating and increased their price objective for the company from $90.00 to $205.00 in a research report on Friday, March 20th. Sanford C. Bernstein started coverage on shares of ARM in a report on Monday. They set an “outperform” rating and a $300.00 target price for the company. Morgan Stanley reiterated an “equal weight” rating and issued a $150.00 price target (up from $135.00) on shares of ARM in a research note on Tuesday, April 7th. Finally, KeyCorp restated an “overweight” rating on shares of ARM in a research report on Thursday, February 5th. Twenty analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $203.79.

ARM Price Performance

The business’s 50-day moving average is $164.92 and its 200 day moving average is $140.32. The firm has a market capitalization of $227.28 billion, a P/E ratio of 256.10, a price-to-earnings-growth ratio of 7.60 and a beta of 3.40.

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

Insiders Place Their Bets

In related news, insider Spencer Collins sold 51,961 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $211.73, for a total value of $11,001,702.53. Following the completion of the transaction, the insider 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jason Child sold 21,280 shares of the company’s stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of $148.37, for a total transaction of $3,157,313.60. Following the sale, the chief financial officer directly owned 174,706 shares of the company’s stock, valued at $25,921,129.22. This represents a 10.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 135,673 shares of company stock worth $24,616,433 in the last 90 days.

Institutional Trading of ARM

Several large investors have recently made changes to their positions in ARM. Grey Fox Wealth Advisors LLC acquired a new stake in shares of ARM in the 3rd quarter valued at $28,000. Syntax Research Inc. bought a new stake in shares of ARM during the first quarter worth about $30,000. Evelyn Partners Investment Management Services Ltd acquired a new position in ARM in the 1st quarter valued at approximately $30,000. FWL Investment Management LLC acquired a new stake in ARM in the second quarter valued at $34,000. Finally, Cassaday & Co Wealth Management LLC bought a new position in shares of ARM during the first quarter worth about $40,000. Institutional investors and hedge funds 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.