ARM (NASDAQ:ARM) Trading Up 2.3% – Here’s Why

by · The Markets Daily

ARM Holdings PLC Sponsored ADR (NASDAQ:ARMGet Free Report) shares were up 2.3% during mid-day trading on Tuesday . The stock traded as high as $163.50 and last traded at $161.22. Approximately 6,257,175 shares changed hands during trading, a decline of 9% from the average daily volume of 6,844,899 shares. The stock had previously closed at $157.58.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ARM shares. Needham & Company LLC upgraded ARM from a “hold” rating to a “buy” rating and set a $200.00 target price on the stock in a report on Thursday, March 26th. Susquehanna upgraded ARM from a “neutral” rating to a “positive” rating and set a $150.00 target price on the stock in a report on Wednesday, January 21st. Oddo Bhf set a $170.00 target price on ARM in a report on Monday, January 5th. KeyCorp reiterated an “overweight” rating on shares of ARM in a report on Thursday, February 5th. Finally, HSBC upgraded ARM from a “reduce” rating to a “buy” rating and upped their target price for the stock from $90.00 to $205.00 in a report on Friday, March 20th. Eighteen 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $172.33.

Read Our Latest Report on ARM

ARM Stock Up 2.3%

The firm has a 50 day simple moving average of $130.82 and a 200-day simple moving average of $134.26. The stock has a market cap of $170.33 billion, a P/E ratio of 214.96, a price-to-earnings-growth ratio of 6.71 and a beta of 3.33.

ARM (NASDAQ:ARMGet Free Report) last released its quarterly earnings data on Thursday, February 5th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.02. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.23 billion. ARM had a return on equity of 14.01% and a net margin of 17.15%.The business’s revenue for the quarter was up 26.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.39 earnings per share. On average, equities analysts anticipate that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current year.

Insider Activity at ARM

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 stock was sold at an average price of $148.37, for a total value of $3,157,313.60. Following the sale, the chief financial officer 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 filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Rene A. Haas sold 7,986 shares of the company’s stock in a transaction that occurred on Thursday, March 26th. The shares were sold at an average price of $160.86, for a total value of $1,284,627.96. Following the completion of the sale, the chief executive officer owned 282,979 shares in the company, valued at $45,520,001.94. This represents a 2.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 53,133 shares of company stock worth $8,288,586 in the last 90 days.

Hedge Funds Weigh In On ARM

Institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC grew its position in shares of ARM by 126.0% in the third quarter. GAMMA Investing LLC now owns 174 shares of the company’s stock valued at $25,000 after purchasing an additional 97 shares during the last quarter. Grey Fox Wealth Advisors LLC acquired a new position in shares of ARM in the third quarter valued at approximately $28,000. Mcguire Capital Advisors Inc. acquired a new position in shares of ARM in the fourth quarter valued at approximately $30,000. Navalign LLC acquired a new position in shares of ARM in the fourth quarter valued at approximately $33,000. Finally, FWL Investment Management LLC acquired a new position in shares of ARM in the second quarter valued at approximately $34,000. Institutional investors and hedge funds own 7.53% of the company’s stock.

About ARM

(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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