Arm Holdings PLC Sponsored ADR (NASDAQ:ARM) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Arm Holdings PLC Sponsored ADR (NASDAQ:ARM) have earned a consensus recommendation of “Moderate Buy” from the twenty-six ratings firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $305.1250.

Several analysts recently issued reports on ARM shares. Weiss Ratings reiterated a “hold (c)” rating on shares of ARM in a report on Friday, July 17th. Barclays boosted their target price on ARM from $250.00 to $360.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. Benchmark initiated coverage on ARM in a research report on Thursday, July 16th. They issued a “hold” rating on the stock. Rosenblatt Securities cut their price target on ARM from $270.00 to $250.00 and set a “buy” rating for the company in a research note on Friday, July 31st. Finally, The Goldman Sachs Group lifted their price target on ARM from $125.00 to $150.00 and gave the company a “sell” rating in a report on Thursday, May 7th.

ARM Stock Performance

ARM stock opened at $239.05 on Monday. ARM has a twelve month low of $100.02 and a twelve month high of $452.70. The firm has a market cap of $255.32 billion, a PE ratio of 246.45, a P/E/G ratio of 7.57 and a beta of 3.90. The firm’s 50 day moving average price is $285.38 and its two-hundred day moving average price is $234.04.

ARM (NASDAQ:ARM) last issued its earnings results on Thursday, July 30th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05. ARM had a net margin of 20.25% and a return on equity of 12.24%. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the business posted $0.35 EPS. The company’s revenue for the quarter was up 22.4% on a year-over-year basis. Equities analysts anticipate that ARM will post 1.15 EPS for the current fiscal year.

Insider Activity at ARM

In related news, insider William Abbey sold 6,566 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $8,281,131.36. This trade represents a 24.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Laura Kathleen Bartels sold 11,306 shares of ARM stock in a transaction that occurred 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 completion of the sale, the chief accounting officer owned 12,135 shares of the company’s stock, valued at $4,765,414.50. This trade represents a 48.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.

Institutional Investors Weigh In On ARM

Institutional investors and hedge funds have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. boosted its holdings in ARM by 2,623.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,671,787 shares of the company’s stock worth $182,743,000 after purchasing an additional 1,610,403 shares in the last quarter. Employees Provident Fund Board bought a new position in ARM during the fourth quarter valued at about $120,241,000. Arrowstreet Capital Limited Partnership raised its holdings in ARM by 1,203.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 945,152 shares of the company’s stock valued at $142,983,000 after buying an additional 872,644 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in shares of ARM in the first quarter worth about $116,112,000. Finally, SG Americas Securities LLC boosted its stake in shares of ARM by 265.6% during the 1st quarter. SG Americas Securities LLC now owns 971,067 shares of the company’s stock worth $146,903,000 after acquiring an additional 705,459 shares in the last quarter. Institutional investors and hedge funds own 7.53% of the company’s stock.

About ARM

Arm Holdings (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.