ARM (NASDAQ:ARM) Sets New 52-Week High – Here’s Why

ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $428.60 and last traded at $420.6010, with a volume of 2670975 shares changing hands. The stock had previously closed at $412.55.

Analysts Set New Price Targets

Several research analysts have recently commented on ARM shares. Sanford C. Bernstein started coverage on ARM in a research report on Monday, May 18th. They issued an “outperform” rating and a $300.00 price target for the company. Wells Fargo & Company lifted their target price on ARM from $255.00 to $410.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. Bank of America increased their price target on shares of ARM from $245.00 to $335.00 and gave the company a “neutral” rating in a research report on Thursday, June 11th. TD Cowen raised their price target on shares of ARM from $165.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of ARM in a research report on Monday, April 20th. Twenty research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $245.04.

ARM Price Performance

The firm has a market cap of $445.54 billion, a price-to-earnings ratio of 500.40, a P/E/G ratio of 13.83 and a beta of 3.77. The firm has a fifty day simple moving average of $249.09 and a two-hundred day simple moving average of $167.34.

ARM (NASDAQ:ARM) last announced its quarterly earnings data 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%. Equities analysts anticipate that ARM Holdings PLC Sponsored ADR will post 1.12 earnings per share for the current fiscal year.

Insider Activity at ARM

In other news, CAO Laura Kathleen Bartels sold 11,306 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $392.70, for a total transaction of $4,439,866.20. Following the sale, the chief accounting officer directly owned 12,135 shares of the company’s stock, valued at $4,765,414.50. The trade was a 48.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charlotte Claire Eaton sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $282.77, for a total value of $1,131,080.00. Following the completion of the sale, the insider owned 7,805 shares in the company, valued at approximately $2,207,019.85. This represents a 33.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 301,338 shares of company stock valued at $66,030,158.

Institutional Investors Weigh In On ARM

Several hedge funds have recently bought and sold shares of ARM. Syntax Research Inc. purchased a new position in shares of ARM during the 1st quarter valued at approximately $30,000. Evelyn Partners Investment Management Services Ltd purchased a new stake in ARM during the first quarter worth $30,000. Mcguire Capital Advisors Inc. acquired a new stake in ARM during the fourth quarter valued at $30,000. Navalign LLC purchased a new position in ARM in the fourth quarter valued at $33,000. Finally, FWL Investment Management LLC acquired a new position in shares of ARM in the second quarter worth about $34,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

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.