ARM (NASDAQ:ARM) Stock Price Up 9.2% – What’s Next?

ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) traded up 9.2% during trading on Thursday . The company traded as high as $339.44 and last traded at $327.87. Approximately 7,051,436 shares were traded during trading, a decline of 21% from the average daily volume of 8,878,759 shares. The stock had previously closed at $300.24.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. 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. Barclays raised their price target on shares of ARM from $250.00 to $360.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. Sanford C. Bernstein set a $500.00 price target on shares of ARM in a research note on Wednesday, June 17th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of ARM in a report on Thursday, May 7th. Finally, Wells Fargo & Company raised their price objective on shares of ARM from $255.00 to $410.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Nineteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, ARM has an average rating of “Moderate Buy” and an average target price of $279.83.

ARM Stock Performance

The stock has a market capitalization of $350.19 billion, a price-to-earnings ratio of 390.32, a P/E/G ratio of 10.91 and a beta of 3.76. The business has a 50-day moving average of $313.06 and a 200-day moving average of $194.38.

ARM (NASDAQ:ARM) last posted its earnings results 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 company had revenue of $1.49 billion for the quarter. Equities analysts predict that ARM Holdings PLC Sponsored ADR will post 1.12 earnings per share for the current fiscal year.

Insider Activity

In other news, insider William Abbey sold 10,887 shares of the firm’s stock in a transaction on 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 directly owned 43,353 shares in the company, valued at $9,717,141.42. This trade represents a 20.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Jason Child sold 31,920 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $226.54, for a total value of $7,231,156.80. Following the completion of the sale, the chief financial officer owned 174,232 shares in the company, valued at $39,470,517.28. This represents a 15.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 248,205 shares of company stock worth $57,741,572 in the last three months.

Institutional Trading of ARM

A number of institutional investors and hedge funds have recently bought and sold shares of ARM. Vertrix Wealth Management LLC acquired a new position in shares of ARM in the second quarter worth $292,000. Alliance Wealth Advisors LLC acquired a new position in ARM during the 2nd quarter worth $213,000. Allied Private Wealth LLC purchased a new stake in ARM during the 2nd quarter worth about $71,000. Hennion & Walsh Asset Management Inc. raised its position in ARM by 21.9% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 4,979 shares of the company’s stock valued at $1,765,000 after purchasing an additional 893 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL boosted its stake in shares of ARM by 113.4% in the 2nd quarter. Strategic Investment Solutions Inc. IL now owns 1,338 shares of the company’s stock valued at $474,000 after buying an additional 711 shares during the period. 7.53% of the stock is currently owned by hedge funds and other 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.