ARM (NASDAQ:ARM) Given New $230.00 Price Target at Mizuho

ARM (NASDAQ:ARM) had its target price hoisted by Mizuho from $160.00 to $230.00 in a research report released on Monday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities analysts also recently weighed in on the company. UBS Group dropped 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. Morgan Stanley dropped their target price on ARM from $180.00 to $135.00 and set an “overweight” rating on the stock in a report on Friday, January 23rd. Guggenheim upped their target price on ARM from $201.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, March 25th. Deutsche Bank Aktiengesellschaft upped their target price on ARM from $125.00 to $140.00 and gave the company a “hold” rating in a report on Wednesday, March 25th. Finally, Wells Fargo & Company upped their target price on ARM from $165.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, April 1st. Nineteen equities 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $171.50.

ARM Trading Down 0.2%

NASDAQ ARM opened at $148.77 on Monday. The stock’s 50-day moving average price is $126.75 and its two-hundred day moving average price is $134.00. The company has a market cap of $157.18 billion, a PE ratio of 198.36, a PEG ratio of 6.65 and a beta of 3.33. ARM has a 1 year low of $80.00 and a 1 year high of $183.16.

ARM (NASDAQ:ARM) last posted its quarterly earnings data on Thursday, February 5th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.02. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.23 billion. ARM had a return on equity of 14.01% and a net margin of 17.15%.The business’s revenue for the quarter was up 26.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.39 EPS. Research analysts forecast that ARM will post 0.9 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Investors Weigh In On ARM

A number of large investors have recently added to or reduced their stakes in ARM. Amundi boosted its position in ARM by 24.8% during the first quarter. Amundi now owns 11,804 shares of the company’s stock worth $1,153,000 after purchasing an additional 2,345 shares during the period. Empowered Funds LLC boosted its position in ARM by 28.8% during the first quarter. Empowered Funds LLC now owns 4,887 shares of the company’s stock worth $522,000 after purchasing an additional 1,094 shares during the period. Schnieders Capital Management LLC. boosted its position in ARM by 9.0% during the second quarter. Schnieders Capital Management LLC. now owns 2,430 shares of the company’s stock worth $393,000 after purchasing an additional 200 shares during the period. Russell Investments Group Ltd. boosted its position in ARM by 202.3% during the second quarter. Russell Investments Group Ltd. now owns 23,480 shares of the company’s stock worth $3,798,000 after purchasing an additional 15,712 shares during the period. Finally, Beacon Pointe Advisors LLC bought a new stake in ARM during the second quarter worth approximately $277,000. 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.