ARM Holdings PLC Sponsored ADR (NASDAQ:ARM – Get Free Report)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $353.29, but opened at $389.95. ARM shares last traded at $388.6420, with a volume of 5,881,504 shares traded.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on ARM shares. Raymond James Financial reaffirmed an “outperform” rating on shares of ARM in a research note on Thursday, May 7th. TD Cowen boosted their target price on ARM from $165.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Royal Bank Of Canada upped their target price on ARM from $175.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. decreased their price target on ARM from $180.00 to $145.00 and set an “overweight” rating for the company in a research note on Thursday, February 5th. Finally, Mizuho upped their price objective on ARM from $360.00 to $425.00 and gave the company an “outperform” rating in a report on Monday. Twenty equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, ARM currently has a consensus rating of “Moderate Buy” and an average target price of $215.88.
Read Our Latest Analysis on ARM
ARM Stock Performance
ARM (NASDAQ:ARM – Get Free Report) last announced its quarterly earnings data on Wednesday, April 1st. The company reported $0.60 EPS for the quarter. ARM had a net margin of 18.37% and a return on equity of 12.43%. The firm had revenue of $1.49 billion for the quarter. As a group, equities analysts anticipate that ARM Holdings PLC Sponsored ADR will post 1.12 earnings per share for the current fiscal year.
Insider Transactions at ARM
In related news, insider William Abbey sold 10,887 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $224.14, for a total transaction of $2,440,212.18. Following the completion of the transaction, the insider owned 43,353 shares of the company’s stock, valued at approximately $9,717,141.42. The trade was a 20.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Spencer Collins sold 51,961 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $211.73, for a total value of $11,001,702.53. Following the transaction, the insider owned 51,125 shares of the company’s stock, valued at approximately $10,824,696.25. This trade represents a 50.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 279,266 shares of company stock worth $57,502,031.
Hedge Funds Weigh In On ARM
Hedge funds have recently modified their holdings of the stock. Amundi boosted its position in ARM by 24.8% in the first quarter. Amundi now owns 11,804 shares of the company’s stock valued at $1,153,000 after buying an additional 2,345 shares in the last quarter. Empowered Funds LLC raised its stake in shares of ARM by 28.8% in the first quarter. Empowered Funds LLC now owns 4,887 shares of the company’s stock valued at $522,000 after acquiring an additional 1,094 shares during the last quarter. Schnieders Capital Management LLC. raised its stake in shares of ARM by 9.0% in the second quarter. Schnieders Capital Management LLC. now owns 2,430 shares of the company’s stock valued at $393,000 after acquiring an additional 200 shares during the last quarter. Bank of Nova Scotia acquired a new position in shares of ARM in the 2nd quarter worth approximately $556,000. Finally, State Street Corp boosted its holdings in shares of ARM by 14.7% in the 2nd quarter. State Street Corp now owns 441,445 shares of the company’s stock worth $71,399,000 after acquiring an additional 56,656 shares in the last quarter. 7.53% of the stock is owned by institutional investors and hedge funds.
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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