ARM (NASDAQ:ARM) Trading Up 1% – What’s Next?

ARM Holdings PLC Sponsored ADR (NASDAQ:ARM)’s share price was up 1% on Monday . The company traded as high as $364.35 and last traded at $346.39. Approximately 8,931,858 shares were traded during trading, an increase of 4% from the average daily volume of 8,599,483 shares. The stock had previously closed at $342.93.

Analysts Set New Price Targets

A number of research analysts have weighed in on ARM shares. Barclays boosted their target price on shares of ARM from $250.00 to $360.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Raymond James Financial reissued an “outperform” rating on shares of ARM in a report on Thursday, May 7th. Mizuho increased their price target on shares of ARM from $425.00 to $500.00 and gave the company an “outperform” rating in a report on Monday. Royal Bank Of Canada increased their price target on shares of ARM from $175.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Finally, Susquehanna increased their price target on shares of ARM from $170.00 to $210.00 and gave the company a “positive” rating in a report on Thursday, April 16th. Twenty equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $230.04.

ARM Trading Down 5.4%

The stock has a market capitalization of $328.36 billion, a P/E ratio of 365.99, a P/E/G ratio of 12.58 and a beta of 3.78. The business’s fifty day simple moving average is $232.08 and its two-hundred day simple moving average is $160.91.

ARM (NASDAQ:ARM) last announced its quarterly earnings data 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 company had revenue of $1.49 billion during the quarter. On average, equities research analysts anticipate that ARM Holdings PLC Sponsored ADR will post 1.12 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Rene A. Haas sold 23,867 shares of the stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of $161.17, for a total value of $3,846,644.39. Following the completion of the transaction, the chief executive officer owned 290,965 shares in the company, valued at approximately $46,894,829.05. This represents a 7.58% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Spencer Collins sold 51,961 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $211.73, for a total transaction of $11,001,702.53. Following the completion of the transaction, the insider owned 51,125 shares of the company’s stock, valued at approximately $10,824,696.25. This represents a 50.41% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 301,338 shares of company stock worth $66,030,158.

Hedge Funds Weigh In On ARM

A number of hedge funds have recently made changes to their positions in ARM. Rathbones Group PLC increased its position in shares of ARM by 4,638.8% during the 4th quarter. Rathbones Group PLC now owns 500,043 shares of the company’s stock worth $54,660,000 after purchasing an additional 489,491 shares in the last quarter. Paragon Capital Management Inc. acquired a new stake in shares of ARM during the 4th quarter worth about $826,000. Lansdowne Partners UK LLP acquired a new stake in shares of ARM during the 3rd quarter worth about $8,486,000. Hyperion Asset Management Ltd acquired a new stake in shares of ARM during the 3rd quarter worth about $202,980,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position 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 purchasing an additional 6,232 shares in the last quarter. 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.