ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) have been assigned a consensus rating of “Moderate Buy” from the twenty-six analysts that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and nineteen have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $168.5833.

A number of equities research analysts recently commented on ARM shares. Evercore decreased their target price on ARM from $215.00 to $170.00 and set an “outperform” rating for the company in a report on Thursday, February 5th. Morgan Stanley reduced their price target on shares of ARM from $180.00 to $135.00 and set an “overweight” rating for the company in a research report on Friday, January 23rd. Rosenblatt Securities restated a “buy” rating and set a $175.00 price objective on shares of ARM in a research note on Wednesday, March 25th. Jefferies Financial Group set a $170.00 price objective on shares of ARM in a report on Thursday, February 5th. Finally, Bank of America reiterated a “neutral” rating and issued a $120.00 price objective on shares of ARM in a research note on Tuesday, January 13th.

Insider Activity

In other news, CEO Rene A. Haas sold 7,986 shares of the company’s stock in a transaction dated Thursday, March 26th. The stock was sold at an average price of $160.86, for a total value of $1,284,627.96. Following the sale, the chief executive officer owned 282,979 shares in the company, valued at $45,520,001.94. This represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jason Child sold 21,280 shares of the firm’s stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of $148.37, for a total value of $3,157,313.60. Following the sale, the chief financial officer directly owned 174,706 shares in the company, valued at approximately $25,921,129.22. This trade represents a 10.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 53,133 shares of company stock worth $8,288,586 over the last ninety days.

Institutional Investors Weigh In On ARM

Hedge funds have recently bought and sold shares of the stock. Amundi increased its holdings in shares of ARM by 24.8% during the 1st quarter. Amundi now owns 11,804 shares of the company’s stock valued at $1,153,000 after purchasing an additional 2,345 shares in the last quarter. Empowered Funds LLC increased its holdings in ARM by 28.8% in the first quarter. Empowered Funds LLC now owns 4,887 shares of the company’s stock valued at $522,000 after buying an additional 1,094 shares in the last quarter. Schnieders Capital Management LLC. raised its position in shares of ARM by 9.0% in the second quarter. Schnieders Capital Management LLC. now owns 2,430 shares of the company’s stock worth $393,000 after acquiring an additional 200 shares during the period. Geode Capital Management LLC raised its position in shares of ARM by 3.0% in the second quarter. Geode Capital Management LLC now owns 113,335 shares of the company’s stock worth $18,331,000 after acquiring an additional 3,317 shares during the period. Finally, Legal & General Group Plc boosted its stake in shares of ARM by 21.4% during the 2nd quarter. Legal & General Group Plc now owns 195,973 shares of the company’s stock worth $31,692,000 after acquiring an additional 34,492 shares in the last quarter. Hedge funds and other institutional investors own 7.53% of the company’s stock.

ARM Price Performance

NASDAQ ARM opened at $149.11 on Friday. The company has a market cap of $157.54 billion, a price-to-earnings ratio of 198.81, a PEG ratio of 6.92 and a beta of 3.33. The stock’s fifty day moving average price is $125.40 and its 200 day moving average price is $134.29. ARM has a 1 year low of $80.00 and a 1 year high of $183.16.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Thursday, February 5th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.23 billion. ARM had a return on equity of 14.01% and a net margin of 17.15%.The firm’s revenue was up 26.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.39 EPS. Research analysts expect that ARM will post 0.9 earnings per share for the current year.

ARM Company Profile

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.