ARM Holdings PLC Sponsored ADR (NASDAQ:ARM – Get Free Report)’s stock price was down 5.2% during trading on Monday . The stock traded as low as $267.31 and last traded at $267.85. Approximately 3,159,594 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 8,466,057 shares. The stock had previously closed at $282.57.
Analysts Set New Price Targets
Several brokerages have recently weighed in on ARM. Morgan Stanley raised their target price on ARM from $202.00 to $212.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Sanford C. Bernstein set a $500.00 price target on ARM in a report on Wednesday, June 17th. Royal Bank Of Canada dropped their price target on shares of ARM from $475.00 to $340.00 and set an “outperform” rating on the stock in a research note on Thursday, July 30th. KeyCorp raised their price objective on shares of ARM from $300.00 to $430.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Finally, TD Cowen lowered their target price on shares of ARM from $475.00 to $350.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Eighteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $285.33.
Get Our Latest Research Report on ARM
ARM Trading Down 5.2%
ARM (NASDAQ:ARM – Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.40 by $0.05. ARM had a net margin of 20.25% and a return on equity of 12.24%. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the business earned $0.35 EPS. The business’s revenue was up 22.4% on a year-over-year basis. Research analysts expect that ARM Holdings PLC Sponsored ADR will post 1.15 earnings per share for the current fiscal year.
Insider Transactions at ARM
In other news, CAO Laura Kathleen Bartels sold 11,306 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $392.70, for a total value of $4,439,866.20. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Spencer Collins sold 40,941 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $215.00, for a total transaction of $8,802,315.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 164,088 shares of company stock worth $41,099,903 over the last ninety days.
Institutional Investors Weigh In On ARM
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Syntax Research Inc. acquired a new stake in ARM during the 1st quarter valued at $30,000. Evelyn Partners Investment Management Services Ltd purchased a new stake in shares of ARM in the first quarter valued at $30,000. Mcguire Capital Advisors Inc. acquired a new stake in shares of ARM during the fourth quarter valued at $30,000. Navalign LLC purchased a new stake in ARM during the 4th quarter worth about $33,000. Finally, FWL Investment Management LLC purchased a new stake in ARM during the 2nd quarter worth about $34,000. 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.
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