ARM (NASDAQ:ARM) Shares Up 1.5% – Here’s What Happened

Arm Holdings PLC Sponsored ADR (NASDAQ:ARM) shares traded up 1.5% during trading on Tuesday. The company traded as high as $227.83 and last traded at $226.60. 3,730,268 shares traded hands during mid-day trading, a decline of 50% from the average session volume of 7,480,123 shares. The stock had previously closed at $223.35.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ARM shares. Raymond James Financial reissued an “outperform” rating and set a $166.00 target price on shares of ARM in a research note on Tuesday, August 25th. HSBC downgraded ARM from a “buy” rating to a “hold” rating and increased their target price for the company from $255.00 to $315.00 in a research report on Tuesday, July 14th. Morgan Stanley increased their price target on ARM from $202.00 to $212.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Susquehanna boosted their price objective on ARM from $300.00 to $320.00 and gave the company a “positive” rating in a report on Tuesday, July 21st. Finally, TD Cowen lowered their price objective on ARM from $475.00 to $350.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $303.32.

ARM Trading Down 4.0%

The firm has a market cap of $241.88 billion, a P/E ratio of 233.75, a PEG ratio of 6.24 and a beta of 3.78. The business’s fifty day simple moving average is $260.04 and its 200-day simple moving average is $226.86.

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

Insider Buying and Selling

In related news, CFO Jason Child sold 10,400 shares of the company’s stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $300.00, for a total value of $3,120,000.00. Following the transaction, the chief financial officer directly owned 153,442 shares of the company’s stock, valued at approximately $46,032,600. This represents a 6.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Institutional Trading of ARM

Institutional investors and hedge funds have recently bought and sold shares of the stock. Kings Path Partners LLC purchased a new position in ARM during the 3rd quarter worth $29,000. Syntax Research Inc. acquired a new stake in ARM in the 1st quarter worth about $30,000. Evelyn Partners Investment Management Services Ltd purchased a new stake in ARM during the first quarter worth approximately $30,000. Cassaday & Co Wealth Management LLC purchased a new position in ARM in the 1st quarter valued at about $40,000. Finally, Sterling Capital Management LLC increased its holdings in ARM by 1,400.0% in the first quarter. Sterling Capital Management LLC now owns 375 shares of the company’s stock valued at $57,000 after buying an additional 350 shares during the last quarter. 7.53% of the stock is currently owned by institutional investors.

ARM Company Profile

Arm Holdings plc (NASDAQ: ARM) is a semiconductor and software design company that develops central processing unit (CPU) architectures and related intellectual property. Rather than manufacturing chips itself, Arm licenses its designs and instruction-set architectures to semiconductor companies and technology manufacturers, which incorporate them into their own products.

The company’s offerings include CPU processor cores, graphics processing units through its Mali product family, system IP, development tools and software.