ARM (NASDAQ:ARM) Raised to “Strong-Buy” at Sanford C. Bernstein

ARM (NASDAQ:ARM) was upgraded by analysts at Sanford C. Bernstein to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

A number of other analysts also recently issued reports on the stock. TD Cowen lifted 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. Benchmark restated a “hold” rating on shares of ARM in a report on Thursday, February 5th. The Goldman Sachs Group boosted their target price on shares of ARM from $125.00 to $150.00 and gave the stock a “sell” rating in a report on Thursday, May 7th. Weiss Ratings restated a “hold (c)” rating on shares of ARM in a report on Monday, April 20th. Finally, Jefferies Financial Group restated a “buy” rating on shares of ARM in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $203.79.

ARM Stock Performance

Shares of NASDAQ ARM opened at $215.12 on Monday. The company has a market cap of $227.28 billion, a P/E ratio of 256.10, a P/E/G ratio of 7.60 and a beta of 3.40. The firm’s fifty day moving average is $166.81 and its two-hundred day moving average is $140.61. ARM has a 52-week low of $100.02 and a 52-week high of $239.50.

ARM (NASDAQ:ARM) last announced its quarterly earnings results on Wednesday, April 1st. The company reported $0.60 earnings per share (EPS) for the quarter. The company had revenue of $1.49 billion for the quarter. ARM had a net margin of 18.37% and a return on equity of 12.43%. As a group, analysts forecast that ARM will post 1.12 EPS for the current fiscal year.

Insider Transactions at ARM

In other news, CEO Rene A. Haas sold 9,299 shares of the business’s stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $160.85, for a total value of $1,495,744.15. Following the sale, the chief executive officer directly owned 273,680 shares in the company, valued at $44,021,428. The trade was a 3.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Spencer Collins sold 51,961 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $211.73, for a total transaction of $11,001,702.53. Following the completion of the sale, the insider owned 51,125 shares in the company, valued at approximately $10,824,696.25. This trade represents a 50.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 135,673 shares of company stock worth $24,616,433 in the last three months.

Hedge Funds Weigh In On ARM

Several hedge funds have recently added to or reduced their stakes in ARM. Grey Fox Wealth Advisors LLC bought a new position in ARM during the 3rd quarter valued at about $28,000. Syntax Research Inc. bought a new position in ARM during the 1st quarter valued at about $30,000. Evelyn Partners Investment Management Services Ltd bought a new position in ARM during the 1st quarter valued at about $30,000. Mcguire Capital Advisors Inc. bought a new position in ARM during the 4th quarter valued at about $30,000. Finally, Navalign LLC bought a new position in ARM during the 4th quarter valued at about $33,000. 7.53% of the stock is currently owned by institutional investors.

About ARM

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.