ARM (NASDAQ:ARM – Get Free Report) had its price target upped by investment analysts at Bank of America from $245.00 to $335.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Bank of America‘s price target suggests a potential upside of 8.97% from the stock’s current price.
Several other brokerages also recently weighed in on ARM. Rosenblatt Securities lifted their target price on shares of ARM from $175.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Wells Fargo & Company lifted their target price on shares of ARM from $255.00 to $410.00 and gave the company an “overweight” rating in a report on Monday, June 1st. Sanford C. Bernstein began coverage on shares of ARM in a report on Monday, May 18th. They issued an “outperform” rating and a $300.00 target price on the stock. Guggenheim lifted their target price on shares of ARM from $240.00 to $255.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, Royal Bank Of Canada lifted their target price on shares of ARM from $175.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $239.00.
Read Our Latest Research Report on ARM
ARM Stock 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. The company had revenue of $1.49 billion for the quarter. ARM had a net margin of 18.37% and a return on equity of 12.43%. As a group, equities analysts expect that ARM will post 1.12 earnings per share for the current year.
Insider Activity at ARM
In related news, insider William Abbey sold 6,566 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $402.72, for a total value of $2,644,259.52. Following the completion of the sale, the insider owned 20,563 shares in the company, valued at $8,281,131.36. This trade represents a 24.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Laura Kathleen Bartels sold 11,306 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $392.70, for a total transaction of $4,439,866.20. Following the completion of the sale, the chief accounting officer owned 12,135 shares of the company’s stock, valued at $4,765,414.50. This trade represents a 48.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 301,338 shares of company stock worth $66,030,158 over the last three months.
Institutional Trading of ARM
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Syntax Research Inc. acquired a new stake in shares of ARM in the first quarter valued at about $30,000. Evelyn Partners Investment Management Services Ltd acquired a new stake in shares of ARM in the first quarter valued at about $30,000. FWL Investment Management LLC acquired a new stake in shares of ARM in the second quarter valued at about $34,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of ARM in the first quarter valued at about $40,000. Finally, Mcguire Capital Advisors Inc. acquired a new stake in shares of ARM in the fourth quarter valued at about $30,000. Institutional investors and hedge funds 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.
Featured Articles
- Five stocks we like better than ARM
- Casey’s Is Looking Like a Hot Buy as Growth, Buybacks, and Guidance Align
- The “Duck Stock” Keeps Quietly Making Money for Shareholders
- As Shares Fall, Analyst Are Boosting their Broadcom Price Targets
- Everpure: AI Storage Uncertainty Overshadows Breakneck Growth
Receive News & Ratings for ARM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ARM and related companies with MarketBeat.com's FREE daily email newsletter.
