ARM (NASDAQ:ARM) Raised to “Strong-Buy” at Sanford C. Bernstein

ARM (NASDAQ:ARM) was upgraded by research analysts at Sanford C. Bernstein to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other equities research analysts have also recently issued reports on the stock. Mizuho boosted their price objective on shares of ARM from $230.00 to $255.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Susquehanna boosted their price objective on shares of ARM from $170.00 to $210.00 and gave the company a “positive” rating in a research report on Thursday, April 16th. JPMorgan Chase & Co. lowered their price objective on shares of ARM from $180.00 to $145.00 and set an “overweight” rating for the company in a research report on Thursday, February 5th. Benchmark reissued a “hold” rating on shares of ARM in a research report on Thursday, February 5th. Finally, New Street Research raised shares of ARM from a “neutral” rating to a “buy” rating in a research report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $203.79.

ARM Price Performance

ARM stock opened at $215.12 on Monday. The stock has a market cap of $227.28 billion, a price-to-earnings ratio of 256.10, a price-to-earnings-growth ratio of 7.60 and a beta of 3.40. ARM has a 1 year low of $100.02 and a 1 year high of $239.50. The firm has a 50-day moving average of $166.81 and a two-hundred day moving average of $140.61.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, April 1st. The company reported $0.60 earnings per share (EPS) for the quarter. The company had revenue of $1.49 billion during the quarter. ARM had a net margin of 18.37% and a return on equity of 12.43%. Research analysts expect that ARM will post 1.12 earnings per share for the current year.

Insider Transactions at ARM

In other news, CEO Rene A. Haas sold 9,299 shares of the company’s stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $160.85, for a total value of $1,495,744.15. Following the completion of the sale, the chief executive officer owned 273,680 shares of the company’s stock, valued at approximately $44,021,428. This represents a 3.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Spencer Collins sold 51,961 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $211.73, for a total transaction of $11,001,702.53. Following the completion of the sale, the insider directly owned 51,125 shares of the company’s stock, valued at $10,824,696.25. The trade was a 50.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 135,673 shares of company stock valued at $24,616,433.

Institutional Investors Weigh In On ARM

Hedge funds have recently modified their holdings of the business. Pacific Heights Asset Management LLC lifted its position in shares of ARM by 32.1% in the 3rd quarter. Pacific Heights Asset Management LLC now owns 185,000 shares of the company’s stock worth $26,176,000 after purchasing an additional 45,000 shares during the period. Paragon Capital Management Inc. bought a new position in shares of ARM during the 4th quarter worth approximately $826,000. Lansdowne Partners UK LLP bought a new position in shares of ARM during the 3rd quarter worth approximately $8,486,000. Hyperion Asset Management Ltd bought a new position in shares of ARM during the 3rd quarter worth approximately $202,980,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake 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 acquiring an additional 6,232 shares in the last quarter. Hedge funds and other institutional investors own 7.53% of the company’s stock.

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.