ARM (NASDAQ:ARM) Stock Price Up 3.9% – Time to Buy?

Arm Holdings PLC Sponsored ADR (NASDAQ:ARM) shares traded up 3.9% on Wednesday . The stock traded as high as $253.00 and last traded at $251.06. 3,809,218 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 8,118,830 shares. The stock had previously closed at $241.56.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ARM. Rosenblatt Securities decreased their price target on shares of ARM from $270.00 to $250.00 and set a “buy” rating for the company in a report on Friday, July 31st. New Street Research raised ARM from a “neutral” rating to a “buy” rating and set a $260.00 price objective on the stock in a research note on Thursday, July 30th. Bank of America reiterated a “neutral” rating on shares of ARM in a report on Thursday, July 30th. Morgan Stanley boosted their target price on ARM from $202.00 to $212.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Finally, Needham & Company LLC restated a “buy” rating and issued a $255.00 price target on shares of ARM in a report on Thursday, July 30th. Eighteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $305.12.

ARM Stock Up 1.7%

The company has a market cap of $272.58 billion, a price-to-earnings ratio of 263.11, a PEG ratio of 7.44 and a beta of 3.90. The company’s fifty day moving average price is $289.39 and its two-hundred day moving average price is $234.00.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.05. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.26 billion. ARM had a net margin of 20.25% and a return on equity of 12.24%. The firm’s quarterly revenue was up 22.4% on a year-over-year basis. During the same period last year, the business posted $0.35 earnings per share. On average, equities research analysts predict that Arm Holdings PLC Sponsored ADR will post 1.15 earnings per share for the current fiscal year.

Insider Transactions at ARM

In other ARM news, insider William Abbey sold 6,566 shares of ARM stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $402.72, for a total value of $2,644,259.52. Following the sale, the insider owned 20,563 shares of the company’s stock, valued at $8,281,131.36. This trade represents a 24.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Laura Kathleen Bartels sold 11,306 shares of ARM stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $392.70, for a total value of $4,439,866.20. Following the completion of the sale, the chief accounting officer directly owned 12,135 shares in the company, valued at $4,765,414.50. This represents a 48.23% decrease in their position. The SEC filing for this sale provides additional information.

Institutional Investors Weigh In On ARM

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