ARM (NASDAQ:ARM) Trading Up 5.4% – Here’s Why

ARM Holdings PLC Sponsored ADR (NASDAQ:ARMGet Free Report)’s share price was up 5.4% during trading on Friday . The company traded as high as $356.45 and last traded at $353.29. Approximately 10,251,121 shares changed hands during mid-day trading, an increase of 24% from the average daily volume of 8,290,881 shares. The stock had previously closed at $335.27.

Trending Headlines about ARM

Here are the key news stories impacting ARM this week:

Analysts Set New Price Targets

A number of equities analysts have recently commented on ARM shares. Benchmark reiterated a “hold” rating on shares of ARM in a report on Thursday, February 5th. Wells Fargo & Company lifted their target price on ARM from $220.00 to $255.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Guggenheim lifted their target price on ARM from $240.00 to $255.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. KeyCorp reiterated an “overweight” rating on shares of ARM in a report on Thursday, February 5th. Finally, Rosenblatt Securities lifted their target price on ARM from $175.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Twenty equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, ARM has a consensus rating of “Moderate Buy” and an average price target of $208.79.

Get Our Latest Stock Analysis on ARM

ARM Stock Up 5.4%

The stock has a market cap of $373.25 billion, a P/E ratio of 420.58, a PEG ratio of 10.99 and a beta of 3.40. The business has a 50 day moving average price of $194.77 and a 200 day moving average price of $147.97.

ARM (NASDAQ:ARMGet Free Report) last released its earnings results on Wednesday, April 1st. The company reported $0.60 EPS for the quarter. The firm 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, research analysts expect that ARM Holdings PLC Sponsored ADR will post 1.12 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Richard Roy Grisenthwaite sold 24,339 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $209.15, for a total value of $5,090,501.85. Following the transaction, the insider owned 5,543 shares of the company’s stock, valued at $1,159,318.45. This represents a 81.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Rene A. Haas sold 23,867 shares of the stock in a transaction that occurred on Wednesday, March 25th. The stock was sold at an average price of $161.17, for a total value of $3,846,644.39. Following the completion of the transaction, the chief executive officer directly owned 290,965 shares in the company, valued at approximately $46,894,829.05. This trade represents a 7.58% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 279,266 shares of company stock valued at $57,502,031.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Syntax Research Inc. bought a new position in ARM in the first quarter worth approximately $30,000. Evelyn Partners Investment Management Services Ltd bought a new position in ARM in the first quarter worth approximately $30,000. Mcguire Capital Advisors Inc. bought a new position in ARM in the fourth quarter worth approximately $30,000. Navalign LLC bought a new position in ARM in the fourth quarter worth approximately $33,000. Finally, FWL Investment Management LLC bought a new position in ARM in the second quarter worth approximately $34,000. Institutional investors own 7.53% of the company’s stock.

ARM Company Profile

(Get Free Report)

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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