ARM (NASDAQ:ARM – Get Free Report) was upgraded by research analysts at Piper Sandler to a “strong-buy” rating in a research report issued on Wednesday, Zacks reports.
A number of other brokerages have also issued reports on ARM. Wells Fargo & Company cut their price target on shares of ARM from $350.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Sanford C. Bernstein set a $500.00 price objective on shares of ARM in a research note on Wednesday, June 17th. TD Cowen dropped 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. Bank of America reissued a “neutral” rating on shares of ARM in a research note on Thursday, July 30th. Finally, Barclays boosted their price target on ARM from $250.00 to $360.00 and gave the company an “overweight” rating in a report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $305.72.
Get Our Latest Stock Report on ARM
ARM Stock Performance
ARM (NASDAQ:ARM – Get Free Report) last issued 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 for the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the previous year, the firm earned $0.35 earnings per share. The firm’s revenue for the quarter was up 22.4% on a year-over-year basis. Research analysts predict that ARM will post 1.15 EPS for the current year.
Insider Buying and Selling at ARM
In related news, CFO Jason Child sold 10,400 shares of ARM stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $255.33, for a total transaction of $2,655,432.00. Following the sale, the chief financial officer directly owned 163,832 shares in the company, valued at $41,831,224.56. The trade was a 5.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Hedge Funds Weigh In On ARM
A number of institutional investors have recently added to or reduced their stakes in ARM. GAMMA Investing LLC boosted its holdings in shares of ARM by 18.7% in the 2nd quarter. GAMMA Investing LLC now owns 406 shares of the company’s stock worth $144,000 after purchasing an additional 64 shares during the period. Allworth Financial LP lifted its position in ARM by 2.9% in the second quarter. Allworth Financial LP now owns 2,269 shares of the company’s stock worth $804,000 after buying an additional 65 shares during the last quarter. MCF Advisors LLC lifted its position in ARM by 11.7% in the second quarter. MCF Advisors LLC now owns 764 shares of the company’s stock worth $271,000 after buying an additional 80 shares during the last quarter. CreativeOne Wealth LLC boosted its stake in ARM by 5.0% during the fourth quarter. CreativeOne Wealth LLC now owns 1,830 shares of the company’s stock worth $200,000 after buying an additional 87 shares during the period. Finally, AdvisorNet Financial Inc boosted its stake in ARM by 6.2% during the first quarter. AdvisorNet Financial Inc now owns 1,681 shares of the company’s stock worth $254,000 after buying an additional 98 shares during the period. Institutional investors own 7.53% of the company’s stock.
ARM Company Profile
Arm Holdings plc is a semiconductor and software intellectual property company headquartered in Cambridge, England. Rather than manufacturing chips, Arm develops processor architectures and technology designs that it licenses to semiconductor companies, device manufacturers and other technology businesses for use in their own products.
Arm’s portfolio includes central processing unit (CPU) architectures and processor cores, graphics processing units (GPUs), systems IP, interconnect technology, security solutions and related software and development tools.
Featured Stories
- Five stocks we like better than ARM
- AeroVironment’s Record Backlog and Earnings Beat Fuel Recovery Case
- Corning Just Locked In a Massive Verizon Fiber Deal as AI Infrastructure Expands
- 3 Under-$20 Stocks Tied to the Future of U.S. Energy and Materials
- Uncle Sam’s Quantum Leap: Feds Fund a $300M Quantum Supercycle
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.
