ARM (NASDAQ:ARM) Price Target Raised to $230.00 at Mizuho

ARM (NASDAQ:ARM) had its price target increased by equities research analysts at Mizuho from $160.00 to $230.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s price objective indicates a potential upside of 54.25% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Jefferies Financial Group set a $170.00 price objective on ARM in a report on Thursday, February 5th. UBS Group reduced their target price on ARM from $175.00 to $170.00 and set a “buy” rating on the stock in a report on Thursday, February 5th. Evercore decreased their price target on ARM from $215.00 to $170.00 and set an “outperform” rating on the stock in a research report on Thursday, February 5th. TD Cowen dropped their price target on ARM from $190.00 to $165.00 and set a “buy” rating for the company in a research note on Thursday, February 5th. Finally, Citigroup cut shares of ARM from a “buy” rating to a “hold” rating in a research report on Tuesday, January 13th. Nineteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $171.50.

ARM Price Performance

Shares of NASDAQ:ARM opened at $149.11 on Monday. ARM has a 12-month low of $80.00 and a 12-month high of $183.16. The company’s 50 day moving average price is $126.06 and its two-hundred day moving average price is $133.99. The firm has a market cap of $157.54 billion, a PE ratio of 198.81, a PEG ratio of 6.65 and a beta of 3.33.

ARM (NASDAQ:ARM) last released its quarterly earnings results on Thursday, February 5th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.23 billion. ARM had a net margin of 17.15% and a return on equity of 14.01%. The firm’s quarterly revenue was up 26.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.39 earnings per share. On average, research analysts expect that ARM will post 0.9 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Jason Child sold 21,280 shares of the business’s stock in a transaction on Wednesday, March 25th. The stock was sold at an average price of $148.37, for a total transaction of $3,157,313.60. Following the completion of the transaction, the chief financial officer owned 174,706 shares of the company’s stock, valued at approximately $25,921,129.22. The trade was a 10.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Rene A. Haas sold 7,986 shares of the company’s stock in a transaction on Thursday, March 26th. The stock was sold at an average price of $160.86, for a total value of $1,284,627.96. Following the sale, the chief executive officer owned 282,979 shares of the company’s stock, valued at approximately $45,520,001.94. This represents a 2.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 53,133 shares of company stock worth $8,288,586.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Pacific Heights Asset Management LLC lifted its stake in ARM by 32.1% in the 3rd quarter. Pacific Heights Asset Management LLC now owns 185,000 shares of the company’s stock valued at $26,176,000 after purchasing an additional 45,000 shares during the last quarter. Orion Porfolio Solutions LLC bought a new stake in shares of ARM during the second quarter worth $6,277,000. Stanley Laman Group Ltd. acquired a new position in shares of ARM during the third quarter worth $6,219,000. Voya Investment Management LLC increased its holdings in shares of ARM by 15.5% during the third quarter. Voya Investment Management LLC now owns 202,443 shares of the company’s stock worth $28,644,000 after buying an additional 27,228 shares in the last quarter. Finally, Lansdowne Partners UK LLP bought a new position in shares of ARM in the 3rd quarter valued at $8,486,000. Institutional investors own 7.53% of the company’s stock.

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.