ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) Receives $199.61 Average Price Target from Brokerages

ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) has earned an average recommendation of “Moderate Buy” from the twenty-seven analysts that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty have issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $203.7917.

Several analysts recently issued reports on ARM shares. Morgan Stanley restated an “equal weight” rating and set a $150.00 target price (up from $135.00) on shares of ARM in a research report on Tuesday, April 7th. Royal Bank Of Canada boosted their target price on shares of ARM from $175.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. TD Cowen boosted their target price on shares of ARM from $165.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Wells Fargo & Company boosted their target price on shares of ARM from $220.00 to $255.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Finally, Benchmark restated a “hold” rating on shares of ARM in a research report on Thursday, February 5th.

Insiders Place Their Bets

In other ARM news, CFO Jason Child sold 21,280 shares of the company’s stock in a transaction that occurred on Wednesday, March 25th. The shares were sold at an average price of $148.37, for a total value of $3,157,313.60. Following the completion of the transaction, the chief financial officer directly owned 174,706 shares in the company, valued at $25,921,129.22. This represents a 10.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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 transaction of $11,001,702.53. Following the completion of the transaction, the insider owned 51,125 shares of the company’s stock, valued at approximately $10,824,696.25. The trade was a 50.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 135,673 shares of company stock worth $24,616,433 over the last three months.

Hedge Funds Weigh In On ARM

A number of hedge funds have recently modified their holdings of ARM. Amundi boosted its position in shares of ARM by 24.8% in the first quarter. Amundi now owns 11,804 shares of the company’s stock worth $1,153,000 after purchasing an additional 2,345 shares during the period. Empowered Funds LLC boosted its position in shares of ARM by 28.8% in the first quarter. Empowered Funds LLC now owns 4,887 shares of the company’s stock worth $522,000 after purchasing an additional 1,094 shares during the period. Schnieders Capital Management LLC. boosted its position 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 worth $393,000 after purchasing an additional 200 shares during the period. Bank of Nova Scotia bought a new position in shares of ARM in the second quarter worth approximately $556,000. Finally, State Street Corp boosted its position in shares of ARM by 14.7% in the second quarter. State Street Corp now owns 441,445 shares of the company’s stock worth $71,399,000 after purchasing an additional 56,656 shares during the period. 7.53% of the stock is currently owned by institutional investors.

ARM Trading Up 2.8%

Shares of NASDAQ ARM opened at $215.12 on Friday. The firm has a 50 day moving average of $166.81 and a 200 day moving average of $140.61. The firm has a market capitalization of $227.28 billion, a price-to-earnings ratio of 256.10, a price-to-earnings-growth ratio of 7.60 and a beta of 3.40. ARM has a 12-month low of $100.02 and a 12-month high of $239.50.

ARM (NASDAQ:ARM) last announced its earnings results on Wednesday, April 1st. The company reported $0.60 earnings per share (EPS) for the quarter. The company had revenue of $1.49 billion during the quarter. ARM had a net margin of 18.37% and a return on equity of 12.43%. Sell-side analysts predict that ARM will post 1.12 EPS for the current year.

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.