Benchmark Begins Coverage on ARM (NASDAQ:ARM)

Investment analysts at Benchmark began coverage on shares of ARM (NASDAQ:ARM) in a research note issued to investors on Thursday. The firm set a “hold” rating on the stock.

A number of other equities analysts also recently issued reports on ARM. Bank of America raised their price objective on shares of ARM from $335.00 to $460.00 and gave the company a “neutral” rating in a research note on Tuesday, June 23rd. Barclays upped their target price on shares of ARM from $250.00 to $360.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ARM in a report on Monday, April 20th. Wells Fargo & Company lifted their price target on shares of ARM from $255.00 to $410.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $150.00 price target (up from $135.00) on shares of ARM in a research report on Tuesday, April 7th. Seventeen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $298.96.

ARM Price Performance

Shares of ARM stock opened at $267.19 on Thursday. The business’s fifty day moving average price is $324.14 and its 200 day moving average price is $202.57. The firm has a market capitalization of $285.38 billion, a PE ratio of 318.08, a P/E/G ratio of 9.52 and a beta of 3.76. ARM has a 1-year low of $100.02 and a 1-year high of $452.70.

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

Insider Buying and Selling

In other ARM news, insider William Abbey sold 6,566 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $402.72, for a total transaction of $2,644,259.52. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Laura Kathleen Bartels sold 11,306 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $392.70, for a total value of $4,439,866.20. Following the completion of the transaction, the chief accounting officer directly owned 12,135 shares of the company’s stock, valued at approximately $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. Insiders sold a total of 238,906 shares of company stock worth $56,245,828 in the last quarter.

Institutional Trading of ARM

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley lifted its holdings in ARM by 1.2% in the 4th quarter. Morgan Stanley now owns 3,783,006 shares of the company’s stock valued at $413,521,000 after purchasing an additional 45,314 shares in the last quarter. Invesco Ltd. raised its position in shares of ARM by 36.9% in the fourth quarter. Invesco Ltd. now owns 2,426,850 shares of the company’s stock valued at $265,279,000 after buying an additional 654,727 shares during the last quarter. Coatue Management LLC raised its position in shares of ARM by 1.8% in the fourth quarter. Coatue Management LLC now owns 2,300,000 shares of the company’s stock valued at $251,413,000 after buying an additional 40,174 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of ARM by 41.6% during the fourth quarter. Wellington Management Group LLP now owns 2,149,159 shares of the company’s stock valued at $234,925,000 after buying an additional 631,576 shares during the period. Finally, Schroder Investment Management Group lifted its stake in shares of ARM by 11.0% during the fourth quarter. Schroder Investment Management Group now owns 1,891,310 shares of the company’s stock valued at $206,739,000 after buying an additional 187,035 shares during the period. 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.