ARM (NASDAQ:ARM) Price Target Lowered to $360.00 at UBS Group

ARM (NASDAQ:ARM) had its target price trimmed by UBS Group from $470.00 to $360.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other research analysts have also recently issued research reports about the company. Mizuho lifted their target price on ARM from $425.00 to $500.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Guggenheim increased their target price on shares of ARM from $240.00 to $255.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Bank of America raised their price target 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. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of ARM in a report on Thursday, May 7th. Finally, Rosenblatt Securities increased their price objective on shares of ARM from $175.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Seventeen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $295.48.

ARM Stock Performance

Shares of ARM opened at $269.61 on Monday. ARM has a 52-week low of $100.02 and a 52-week high of $452.70. The business’s fifty day moving average is $325.28 and its 200-day moving average is $204.34. The firm has a market cap of $287.97 billion, a price-to-earnings ratio of 320.96, a PEG ratio of 9.70 and a beta of 3.76.

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

Insider Buying and Selling

In other news, insider Charlotte Claire Eaton sold 4,000 shares of the 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 owned 7,805 shares of the company’s stock, valued at approximately $2,207,019.85. This represents a 33.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Laura Kathleen Bartels sold 11,306 shares of the firm’s stock in a transaction dated 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 transaction, the chief accounting officer owned 12,135 shares of the company’s stock, valued at $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. Over the last quarter, insiders have sold 238,906 shares of company stock worth $56,245,828.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ARM. Morgan Stanley boosted its stake in shares of 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 during the last quarter. Invesco Ltd. raised its stake in ARM by 36.9% during the fourth quarter. Invesco Ltd. now owns 2,426,850 shares of the company’s stock worth $265,279,000 after buying an additional 654,727 shares during the last quarter. Coatue Management LLC raised its stake in ARM by 1.8% during the fourth quarter. Coatue Management LLC now owns 2,300,000 shares of the company’s stock worth $251,413,000 after buying an additional 40,174 shares during the last quarter. Wellington Management Group LLP lifted its holdings in ARM by 41.6% in 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 holdings in ARM by 11.0% in 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. 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.