ARM (NASDAQ:ARM) Trading 1.7% Higher Following Analyst Upgrade

Arm Holdings plc (NASDAQ:ARM)’s share price was up 1.7% during trading on Tuesday after Wells Fargo & Company raised their price target on the stock from $155.00 to $162.00. Wells Fargo & Company currently has an overweight rating on the stock. ARM traded as high as $143.13 and last traded at $139.36. Approximately 944,556 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 4,285,683 shares. The stock had previously closed at $137.07.

A number of other equities research analysts have also issued reports on ARM. TD Cowen upped their price target on ARM from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Susquehanna upped their target price on ARM from $115.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Barclays lifted their price target on ARM from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. UBS Group assumed coverage on shares of ARM in a research report on Monday, November 25th. They set a “buy” rating and a $160.00 price objective for the company. Finally, Benchmark initiated coverage on shares of ARM in a research note on Monday, September 16th. They set a “hold” rating on the stock. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $150.64.

Institutional Investors Weigh In On ARM

Large investors have recently modified their holdings of the stock. Hexagon Capital Partners LLC boosted its holdings in ARM by 14.0% in the 3rd quarter. Hexagon Capital Partners LLC now owns 627 shares of the company’s stock valued at $90,000 after purchasing an additional 77 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of ARM by 1.1% in the third quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the company’s stock valued at $1,359,000 after buying an additional 100 shares in the last quarter. Hobbs Group Advisors LLC grew its holdings in ARM by 7.4% during the third quarter. Hobbs Group Advisors LLC now owns 1,454 shares of the company’s stock worth $208,000 after acquiring an additional 100 shares during the period. Great Valley Advisor Group Inc. raised its position in ARM by 5.5% in the third quarter. Great Valley Advisor Group Inc. now owns 1,963 shares of the company’s stock worth $281,000 after acquiring an additional 102 shares in the last quarter. Finally, Crescent Sterling Ltd. lifted its holdings in ARM by 6.5% in the fourth quarter. Crescent Sterling Ltd. now owns 1,879 shares of the company’s stock valued at $232,000 after acquiring an additional 114 shares during the period. Hedge funds and other institutional investors own 7.53% of the company’s stock.

ARM Stock Performance

The company has a market capitalization of $146.76 billion, a PE ratio of 233.44, a price-to-earnings-growth ratio of 7.15 and a beta of 4.53. The firm’s 50-day simple moving average is $137.34 and its 200 day simple moving average is $141.38.

ARM (NASDAQ:ARM) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.26 by $0.04. The business had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.36 EPS. As a group, equities analysts anticipate that Arm Holdings plc will post 0.79 earnings per share for the current year.

ARM Company Profile

Arm Holdings plc architects, develops, and licenses central processing unit products and related technologies for semiconductor companies and original equipment manufacturers rely on to develop products. It offers microprocessors, systems intellectual property (IPs), graphics processing units, physical IP and associated systems IPs, software, tools, and other related services.