ARM Holdings PLC Sponsored ADR (NASDAQ:ARM – Get Free Report)’s stock price was up 5.7% during mid-day trading on Wednesday . The stock traded as high as $444.80 and last traded at $418.88. Approximately 11,508,664 shares traded hands during trading, an increase of 31% from the average daily volume of 8,813,980 shares. The stock had previously closed at $396.34.
Wall Street Analyst Weigh In
ARM has been the subject of several research reports. TD Cowen increased their target price on shares of ARM from $165.00 to $265.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Sanford C. Bernstein set a $500.00 price target on ARM in a research note on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 price target on shares of ARM in a report on Tuesday. New Street Research downgraded ARM from a “buy” rating to a “neutral” rating in a research report on Thursday. Finally, Barclays lifted their price objective on ARM from $250.00 to $360.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Nineteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, ARM currently has a consensus rating of “Moderate Buy” and an average price target of $253.38.
Read Our Latest Analysis on ARM
ARM Price Performance
ARM (NASDAQ:ARM – Get Free Report) last issued its quarterly earnings data on Wednesday, April 1st. The company reported $0.60 earnings per share (EPS) for the quarter. ARM had a return on equity of 12.43% and a net margin of 18.37%.The company had revenue of $1.49 billion during the quarter. On average, sell-side analysts forecast that ARM Holdings PLC Sponsored ADR will post 1.12 earnings per share for the current year.
Insider Activity
In other ARM news, CFO Jason Child sold 31,920 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer directly owned 174,232 shares in the company, valued at $39,470,517.28. The trade was a 15.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider William Abbey sold 6,566 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $402.72, for a total transaction of $2,644,259.52. Following the sale, the insider directly owned 20,563 shares in the company, valued at $8,281,131.36. This represents a 24.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 301,338 shares of company stock worth $66,030,158.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the company. Compound Planning Inc. grew its position in ARM by 4.6% during the 3rd quarter. Compound Planning Inc. now owns 1,569 shares of the company’s stock worth $222,000 after acquiring an additional 69 shares during the last quarter. Rathbones Group PLC raised its position in ARM by 0.7% in the 3rd quarter. Rathbones Group PLC now owns 10,552 shares of the company’s stock valued at $1,493,000 after purchasing an additional 70 shares during the last quarter. Kovack Advisors Inc. raised its position in ARM by 2.0% in the 3rd quarter. Kovack Advisors Inc. now owns 3,602 shares of the company’s stock valued at $510,000 after purchasing an additional 72 shares during the last quarter. CreativeOne Wealth LLC boosted its stake in ARM by 5.0% in the fourth quarter. CreativeOne Wealth LLC now owns 1,830 shares of the company’s stock worth $200,000 after purchasing an additional 87 shares in the last quarter. Finally, AdvisorNet Financial Inc boosted its stake in ARM by 6.2% in the first quarter. AdvisorNet Financial Inc now owns 1,681 shares of the company’s stock worth $254,000 after purchasing an additional 98 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.
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