ARM (NASDAQ:ARM) Price Target Raised to $360.00

Key Points

• Mizuho raised ARM’s price target from $290 to $360 and kept an outperform rating, implying about 18.9% upside from the current price.
• ARM’s stock was down 5.8% on Thursday, opening at $302.71, while the company’s market value stood at about $319.8 billion.
• Analyst sentiment remains broadly positive: 20 Buy ratings versus six Holds and one Sell, with a consensus Moderate Buy and average target price of $213.17.

ARM (NASDAQ:ARM - Get Free Report) had its price target lifted by equities research analysts at Mizuho from $290.00 to $360.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Mizuho's price target suggests a potential upside of 18.93% from the company's current price.

ARM has been the topic of a number of other research reports. Raymond James Financial restated an "outperform" rating on shares of ARM in a report on Thursday, May 7th. TD Cowen raised their price target on shares of ARM from $165.00 to $265.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Rosenblatt Securities lifted their target price on shares of ARM from $175.00 to $270.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Susquehanna lifted their target price on shares of ARM from $170.00 to $210.00 and gave the stock a "positive" rating in a report on Thursday, April 16th. Finally, Sanford C. Bernstein initiated coverage on shares of ARM in a report on Monday, May 18th. They issued an "outperform" rating and a $300.00 target price on the stock. 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $213.17.

ARM Trading Down 5.8%

ARM stock opened at $302.71 on Thursday. The company has a market capitalization of $319.82 billion, a P/E ratio of 360.37, a P/E/G ratio of 11.67 and a beta of 3.40. The firm's fifty day simple moving average is $190.61 and its 200-day simple moving average is $146.68. ARM has a 1-year low of $100.02 and a 1-year high of $325.00.

ARM (NASDAQ:ARM - Get Free Report) last released its quarterly earnings results on Wednesday, April 1st. The company reported $0.60 earnings per share for the quarter. The business had revenue of $1.49 billion for the quarter. ARM had a net margin of 18.37% and a return on equity of 12.43%. On average, equities research analysts predict that ARM will post 1.12 earnings per share for the current year.

Insider Activity at ARM

In other news, insider Richard Roy Grisenthwaite sold 24,339 shares of the business's stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $209.15, for a total transaction of $5,090,501.85. Following the transaction, the insider owned 5,543 shares in the company, valued at approximately $1,159,318.45. The trade was a 81.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Rene A. Haas sold 23,867 shares of the business's stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of $161.17, for a total transaction of $3,846,644.39. Following the transaction, the chief executive officer owned 290,965 shares in the company, valued at approximately $46,894,829.05. The trade was a 7.58% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 279,266 shares of company stock worth $57,502,031.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Morgan Stanley increased its holdings in shares of ARM by 1.2% during the 4th quarter. Morgan Stanley now owns 3,783,006 shares of the company's stock worth $413,521,000 after purchasing an additional 45,314 shares during the period. Invesco Ltd. increased its holdings in shares of ARM by 36.9% during the 4th quarter. Invesco Ltd. now owns 2,426,850 shares of the company's stock worth $265,279,000 after purchasing an additional 654,727 shares during the period. Coatue Management LLC boosted its position in shares of ARM by 1.8% during the 4th quarter. Coatue Management LLC now owns 2,300,000 shares of the company's stock valued at $251,413,000 after acquiring an additional 40,174 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of ARM by 41.6% during the 4th quarter. Wellington Management Group LLP now owns 2,149,159 shares of the company's stock valued at $234,925,000 after acquiring an additional 631,576 shares in the last quarter. Finally, Schroder Investment Management Group boosted its position in shares of ARM by 11.0% during the 4th quarter. Schroder Investment Management Group now owns 1,891,310 shares of the company's stock valued at $206,739,000 after acquiring an additional 187,035 shares in the last quarter. 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.

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