ARM (NASDAQ:ARM) Stock Price Up 9.2% – What’s Next?

ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) was up 9.2% during trading on Thursday . The stock traded as high as $339.44 and last traded at $327.87. 7,051,436 shares were traded during mid-day trading, a decline of 21% from the average daily volume of 8,878,759 shares. The stock had previously closed at $300.24.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ARM. Rosenblatt Securities boosted their price objective on ARM from $175.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Susquehanna lifted their price target on shares of ARM from $170.00 to $210.00 and gave the company a “positive” rating in a report on Thursday, April 16th. Needham & Company LLC reiterated a “buy” rating and issued a $400.00 price target on shares of ARM in a research report on Tuesday, June 16th. Barclays increased their price objective on shares of ARM from $250.00 to $360.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Finally, Morgan Stanley restated an “equal weight” rating and set a $150.00 price objective (up from $135.00) on shares of ARM in a research report on Tuesday, April 7th. Nineteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $279.83.

ARM Stock Performance

The company has a market capitalization of $345.41 billion, a PE ratio of 384.99, a PEG ratio of 11.91 and a beta of 3.76. The stock has a fifty day moving average of $318.07 and a 200 day moving average of $196.78.

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

Insider Activity at ARM

In other ARM news, CFO Jason Child sold 31,920 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $226.54, for a total value of $7,231,156.80. Following the sale, the chief financial officer owned 174,232 shares in the company, valued at $39,470,517.28. The trade was a 15.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider William Abbey sold 6,566 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $402.72, for a total transaction of $2,644,259.52. Following the transaction, the insider directly owned 20,563 shares of the company’s stock, valued at $8,281,131.36. This trade represents a 24.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 248,205 shares of company stock valued at $57,741,572.

Hedge Funds Weigh In On ARM

Institutional investors have recently added to or reduced their stakes in the company. Amundi boosted its position 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 acquiring an additional 2,345 shares during the last quarter. Empowered Funds LLC increased its position in ARM by 28.8% in the first quarter. Empowered Funds LLC now owns 4,887 shares of the company’s stock worth $522,000 after purchasing an additional 1,094 shares during the last quarter. Schnieders Capital Management LLC. raised its stake in ARM by 9.0% during the second quarter. Schnieders Capital Management LLC. now owns 2,430 shares of the company’s stock valued at $393,000 after purchasing an additional 200 shares in the last quarter. Bank of Nova Scotia purchased a new stake in ARM during the second quarter valued at $556,000. Finally, State Street Corp lifted its position in ARM by 14.7% during the second quarter. State Street Corp now owns 441,445 shares of the company’s stock valued at $71,399,000 after purchasing an additional 56,656 shares during the last quarter. Hedge funds and other 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.