New Street Research Reaffirms Neutral Rating for ARM (NASDAQ:ARM)

ARM (NASDAQ:ARM)‘s stock had its “neutral” rating reissued by investment analysts at New Street Research in a report released on Thursday,Benzinga reports.

A number of other analysts have also weighed in on ARM. Guggenheim upped their target price on shares of ARM from $240.00 to $255.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Jefferies Financial Group set a $290.00 target price on shares of ARM in a research note on Thursday, May 21st. Rosenblatt Securities increased their price target on shares of ARM from $175.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of ARM in a research note on Thursday, May 7th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $400.00 price target on shares of ARM in a research note on Tuesday. Nineteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $253.38.

ARM Price Performance

Shares of ARM stock traded up $24.02 during trading hours on Thursday, reaching $442.90. 5,529,547 shares of the stock were exchanged, compared to its average volume of 8,781,925. The business’s fifty day moving average is $259.44 and its two-hundred day moving average is $171.21. ARM has a 12-month low of $100.02 and a 12-month high of $452.70. The firm has a market capitalization of $473.05 billion, a P/E ratio of 528.69, a P/E/G ratio of 14.39 and a beta of 3.78.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, April 1st. The company reported $0.60 earnings per share 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. As a group, equities research analysts predict that ARM will post 1.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ARM news, CEO Rene A. Haas sold 23,867 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 290,965 shares in the company, valued at $46,894,829.05. This represents a 7.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Spencer Collins sold 51,961 shares of the stock in a transaction that occurred 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 in the company, valued at $10,824,696.25. This represents a 50.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 301,338 shares of company stock valued at $66,030,158 over the last three months.

Institutional Investors Weigh In On ARM

Several large investors have recently modified their holdings of ARM. Syntax Research Inc. acquired a new stake in shares of ARM in the first quarter valued at approximately $30,000. Evelyn Partners Investment Management Services Ltd acquired a new stake in shares of ARM in the first quarter valued at approximately $30,000. Mcguire Capital Advisors Inc. acquired a new stake in shares of ARM in the fourth quarter valued at approximately $30,000. Navalign LLC acquired a new stake in shares of ARM in the fourth quarter valued at approximately $33,000. Finally, FWL Investment Management LLC acquired a new stake in shares of ARM in the second quarter valued at approximately $34,000. 7.53% of the stock is owned by institutional investors and hedge funds.

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.