UBS Group Cuts ARM (NASDAQ:ARM) Price Target to $360.00

by · The Markets Daily

ARM (NASDAQ:ARM – Get Free Report) had its target price cut by equities research analysts at UBS Group from $470.00 to $360.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s price target points to a potential upside of 32.79% from the stock’s current price.

Several other research firms have also issued reports on ARM. Benchmark started coverage on shares of ARM in a research report on Thursday. They issued a “hold” rating on the stock. Jefferies Financial Group restated a “buy” rating and issued a $320.00 target price on shares of ARM in a report on Monday. Rosenblatt Securities upped their target price on ARM from $175.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Raymond James Financial reissued an “outperform” rating on shares of ARM in a research note on Thursday, May 7th. Finally, Mizuho upped their price objective on shares of ARM from $425.00 to $500.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. Seventeen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $295.48.

Check Out Our Latest Report on ARM

ARM Price Performance

Shares of ARM stock traded up $3.92 during trading hours on Monday, reaching $271.11. The stock had a trading volume of 2,105,882 shares, compared to its average volume of 8,740,486. The firm has a market capitalization of $289.56 billion, a PE ratio of 323.09, a price-to-earnings-growth ratio of 9.70 and a beta of 3.76. The firm has a 50-day simple moving average of $324.14 and a 200-day simple moving average of $203.22. ARM has a twelve month low of $100.02 and a twelve month high of $452.70.

ARM (NASDAQ:ARM – Get Free Report) last posted its earnings results on Wednesday, April 1st. The company reported $0.60 EPS for the quarter. The firm 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%. On average, equities analysts anticipate that ARM will post 1.12 earnings per share for the current year.

Insider Activity at ARM

In other ARM news, CFO Jason Child sold 31,920 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer owned 174,232 shares in the company, valued at approximately $39,470,517.28. This represents a 15.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider William Abbey sold 6,566 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $402.72, for a total transaction of $2,644,259.52. Following the transaction, the insider owned 20,563 shares in the company, valued at approximately $8,281,131.36. This represents a 24.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 238,906 shares of company stock valued at $56,245,828.

Institutional Investors Weigh In On ARM

Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in ARM by 18.7% during the second 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. CreativeOne Wealth LLC grew its position in shares of ARM by 5.0% in the fourth quarter. CreativeOne Wealth LLC now owns 1,830 shares of the company’s stock valued at $200,000 after purchasing an additional 87 shares during the last quarter. AdvisorNet Financial Inc grew its holdings in ARM by 6.2% in the 1st quarter. AdvisorNet Financial Inc now owns 1,681 shares of the company’s stock valued at $254,000 after buying an additional 98 shares in the last quarter. Moors & Cabot Inc. increased its position in ARM by 5.3% during the 3rd quarter. Moors & Cabot Inc. now owns 2,050 shares of the company’s stock worth $290,000 after buying an additional 103 shares during the period. Finally, Heritage Trust Co increased its position in ARM by 5.5% during the fourth quarter. Heritage Trust Co now owns 2,045 shares of the company’s stock worth $224,000 after acquiring an additional 107 shares during the period. 7.53% of the stock is owned by hedge funds and other institutional investors.

ARM Company Profile

(Get Free Report)

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.

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