ARM (NASDAQ:ARM) Stock Price Up 3.3% – Time to Buy?

ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) shares shot up 3.3% during mid-day trading on Tuesday . The company traded as high as $361.95 and last traded at $354.75. Approximately 6,238,089 shares changed hands during mid-day trading, a decline of 31% from the average session volume of 9,007,415 shares. The stock had previously closed at $343.58.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. HSBC raised ARM from a “reduce” rating to a “buy” rating and raised their price objective for the company from $90.00 to $205.00 in a report on Friday, March 20th. Jefferies Financial Group set a $290.00 price target on shares of ARM in a research report on Thursday, May 21st. TD Cowen lifted their price target on shares of ARM from $265.00 to $475.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Barclays boosted their price objective on shares of ARM from $250.00 to $360.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of ARM in a research note on Thursday, May 7th. Nineteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, ARM presently has an average rating of “Moderate Buy” and an average target price of $279.83.

ARM Trading Up 3.3%

The company has a market capitalization of $378.90 billion, a PE ratio of 422.32, a PEG ratio of 12.14 and a beta of 3.77. The firm has a fifty day moving average of $295.53 and a two-hundred day moving average of $184.78.

ARM (NASDAQ:ARM) last posted its quarterly earnings results on Wednesday, April 1st. The company reported $0.60 earnings per share (EPS) for the quarter. The business had revenue of $1.49 billion for the quarter. ARM had a return on equity of 12.43% and a net margin of 18.37%. On average, equities analysts expect that ARM Holdings PLC Sponsored ADR will post 1.12 EPS for the current fiscal year.

Insider Transactions at ARM

In related news, CAO Laura Kathleen Bartels sold 11,306 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $392.70, for a total transaction of $4,439,866.20. Following the completion of the sale, the chief accounting officer directly owned 12,135 shares in the company, valued at $4,765,414.50. This represents a 48.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Jason Child sold 31,920 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $226.54, for a total transaction of $7,231,156.80. Following the sale, the chief financial officer directly owned 174,232 shares of the company’s stock, valued at $39,470,517.28. The trade was a 15.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 248,205 shares of company stock valued at $57,741,572.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rathbones Group PLC boosted its holdings in ARM by 4,638.8% in the fourth quarter. Rathbones Group PLC now owns 500,043 shares of the company’s stock valued at $54,660,000 after acquiring an additional 489,491 shares in the last quarter. Paragon Capital Management Inc. bought a new position in ARM in the 4th quarter worth $826,000. Lansdowne Partners UK LLP bought a new position in ARM in the 3rd quarter worth $8,486,000. Hyperion Asset Management Ltd purchased a new stake in shares of ARM in the 3rd quarter worth about $202,980,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted 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 valued at $2,644,000 after purchasing an additional 6,232 shares in the last quarter. Institutional investors 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.