ARM (NASDAQ:ARM) Research Coverage Started at Benchmark

Benchmark assumed coverage on shares of ARM (NASDAQ:ARM) in a report issued on Thursday, Marketbeat reports. The firm issued a hold rating on the stock.

Several other research firms have also recently commented on ARM. New Street Research cut shares of ARM from a “buy” rating to a “neutral” rating in a research note on Thursday, June 18th. TD Cowen upped their price target on shares of ARM from $265.00 to $475.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. KeyCorp upped their price target on shares of ARM from $300.00 to $430.00 and gave the stock an “overweight” rating in a research note on Tuesday. Bank of America increased their price objective on shares of ARM from $335.00 to $460.00 and gave the company a “neutral” rating in a report on Tuesday, June 23rd. Finally, The Goldman Sachs Group raised their price objective on shares of ARM from $125.00 to $150.00 and gave the company a “sell” rating in a research note on Thursday, May 7th. Seventeen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $298.96.

ARM Stock Performance

NASDAQ:ARM opened at $267.19 on Thursday. The stock has a market cap of $285.38 billion, a price-to-earnings ratio of 318.08, a PEG ratio of 9.70 and a beta of 3.76. ARM has a 1 year low of $100.02 and a 1 year high of $452.70. The business has a fifty day moving average of $324.14 and a 200-day moving average of $202.57.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, April 1st. The company reported $0.60 earnings per share for the quarter. The business 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%. On average, equities research analysts predict that ARM will post 1.12 EPS for the current year.

Insider Activity

In other ARM news, insider William Abbey sold 10,887 shares of the business’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $224.14, for a total value of $2,440,212.18. Following the sale, the insider directly owned 43,353 shares in the company, valued at approximately $9,717,141.42. The trade was a 20.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Richard Roy Grisenthwaite sold 24,339 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $209.15, for a total transaction of $5,090,501.85. Following the completion of the sale, the insider owned 5,543 shares in the company, valued at approximately $1,159,318.45. This trade represents a 81.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 238,906 shares of company stock valued at $56,245,828 over the last quarter.

Institutional Trading of ARM

A number of hedge funds and other institutional investors have recently made changes to their positions in ARM. Syntax Research Inc. acquired a new position in ARM in the first quarter worth approximately $30,000. Evelyn Partners Investment Management Services Ltd bought a new position in shares of ARM in the first quarter valued at $30,000. Mcguire Capital Advisors Inc. acquired a new stake in shares of ARM during the 4th quarter valued at $30,000. Navalign LLC acquired a new stake in shares of ARM during the 4th quarter valued at $33,000. Finally, FWL Investment Management LLC bought a new stake in shares of ARM during the 2nd quarter worth $34,000. 7.53% of the stock is currently owned by institutional investors.

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.