Bank of America Boosts ARM (NASDAQ:ARM) Price Target to $335.00

by · The Markets Daily

ARM (NASDAQ:ARM – Get Free Report) had its price objective upped by Bank of America from $245.00 to $335.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Bank of America‘s price target suggests a potential upside of 8.97% from the stock’s current price.

ARM has been the subject of a number of other research reports. Jefferies Financial Group set a $290.00 target price on shares of ARM in a research report on Thursday, May 21st. Susquehanna lifted their target price on shares of ARM from $170.00 to $210.00 and gave the stock a “positive” rating in a research report on Thursday, April 16th. HSBC raised shares of ARM from a “reduce” rating to a “buy” rating and boosted their price objective for the company from $90.00 to $205.00 in a research report on Friday, March 20th. Raymond James Financial reissued an “outperform” rating on shares of ARM in a research report on Thursday, May 7th. Finally, TD Cowen boosted their price objective on shares of ARM from $165.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Twenty investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $239.00.

View Our Latest Stock Report on ARM

ARM Trading Down 5.4%

Shares of ARM opened at $307.43 on Thursday. The stock has a market cap of $328.36 billion, a P/E ratio of 365.99, a PEG ratio of 11.80 and a beta of 3.78. The company has a 50-day moving average of $235.49 and a two-hundred day moving average of $162.14. ARM has a 12-month low of $100.02 and a 12-month high of $427.99.

ARM (NASDAQ:ARM – Get Free Report) last announced its 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 during 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 Activity at ARM

In related news, CAO Laura Kathleen Bartels sold 11,306 shares of the business’s stock in a transaction that occurred on 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 approximately $4,765,414.50. The trade was a 48.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charlotte Claire Eaton sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $282.77, for a total transaction of $1,131,080.00. Following the completion of the sale, the insider owned 7,805 shares of the company’s stock, valued at approximately $2,207,019.85. The trade was a 33.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 301,338 shares of company stock valued at $66,030,158 in the last ninety days.

Institutional Investors Weigh In On ARM

Several institutional investors have recently bought and sold shares of the business. Capital Research Global Investors acquired a new position in shares of ARM during the third quarter worth $243,098,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of ARM by 2,623.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,671,787 shares of the company’s stock worth $182,743,000 after purchasing an additional 1,610,403 shares during the period. Hyperion Asset Management Ltd acquired a new stake in shares of ARM during the third quarter worth $202,980,000. Employees Provident Fund Board acquired a new stake in shares of ARM during the fourth quarter worth $120,241,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of ARM by 1,203.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 945,152 shares of the company’s stock worth $142,983,000 after purchasing an additional 872,644 shares during the period. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

ARM Company Profile

(Get Free Report)

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.

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