New Street Research Reaffirms Neutral Rating for ARM (NASDAQ:ARM)

ARM (NASDAQ:ARM)‘s stock had its “neutral” rating reaffirmed by investment analysts at New Street Research in a report issued on Thursday,Benzinga reports.

Other research analysts have also recently issued research reports about the company. Guggenheim raised their price target on ARM from $240.00 to $255.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. The Goldman Sachs Group raised their price target on ARM from $125.00 to $150.00 and gave the company a “sell” rating in a research report on Thursday, May 7th. Needham & Company LLC restated a “buy” rating and issued a $400.00 price target on shares of ARM in a research report on Tuesday. Morgan Stanley restated an “equal weight” rating and issued a $150.00 price target (up from $135.00) on shares of ARM in a research report on Tuesday, April 7th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of ARM in a research report on Monday, April 20th. Nineteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $253.38.

ARM Stock Up 5.7%

Shares of NASDAQ ARM traded up $24.02 during mid-day trading on Thursday, hitting $442.90. 5,529,547 shares of the company were exchanged, compared to its average volume of 8,781,925. The stock has a 50 day simple moving average of $259.44 and a 200-day simple moving average of $171.21. ARM has a 1-year low of $100.02 and a 1-year high of $452.70. The firm has a market cap of $473.05 billion, a price-to-earnings ratio of 528.69, a price-to-earnings-growth ratio of 14.39 and a beta of 3.78.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Wednesday, April 1st. The company reported $0.60 earnings per share for the quarter. The firm 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%. Analysts anticipate that ARM will post 1.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ARM news, CFO Jason Child sold 31,920 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $226.54, for a total value of $7,231,156.80. Following the sale, the chief financial officer directly owned 174,232 shares of the company’s stock, valued at approximately $39,470,517.28. This trade represents a 15.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Charlotte Claire Eaton sold 4,000 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $282.77, for a total value of $1,131,080.00. Following the completion of the sale, the insider directly owned 7,805 shares in the company, valued at approximately $2,207,019.85. The trade was a 33.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 301,338 shares of company stock valued at $66,030,158 in the last quarter.

Institutional Trading of ARM

A number of hedge funds have recently added to or reduced their stakes in ARM. Capital Research Global Investors acquired a new stake in ARM in the 3rd quarter worth about $243,098,000. Northwestern Mutual Wealth Management Co. boosted its stake in ARM by 2,623.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,671,787 shares of the company’s stock worth $182,743,000 after buying an additional 1,610,403 shares during the last quarter. Hyperion Asset Management Ltd acquired a new position in shares of ARM in the 3rd quarter valued at about $202,980,000. Employees Provident Fund Board acquired a new position in shares of ARM in the 4th quarter valued at about $120,241,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of ARM by 1,203.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 945,152 shares of the company’s stock valued at $142,983,000 after purchasing an additional 872,644 shares in the last quarter. 7.53% of the stock is owned by institutional investors and hedge funds.

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.