ARM (NASDAQ:ARM) Stock Price Up 2.6% After Analyst Upgrade

Arm Holdings plc (NASDAQ:ARM)’s share price was up 2.6% during mid-day trading on Friday after Barclays raised their price target on the stock from $145.00 to $155.00. Barclays currently has an overweight rating on the stock. ARM traded as high as $151.45 and last traded at $151.41. Approximately 1,504,876 shares were traded during trading, a decline of 65% from the average daily volume of 4,284,777 shares. The stock had previously closed at $147.52.

ARM has been the topic of a number of other reports. Loop Capital increased their target price on ARM from $130.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, November 11th. JPMorgan Chase & Co. increased their price target on ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. The Goldman Sachs Group upped their target price on shares of ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Susquehanna raised their price target on shares of ARM from $115.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, TD Cowen upped their price objective on shares of ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. 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 given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $151.09.

Institutional Investors Weigh In On ARM

Several institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC lifted its stake in shares of ARM by 14,351.1% during the 3rd quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock valued at $1,161,670,000 after buying an additional 806,676 shares in the last quarter. Sei Investments Co. lifted its position in shares of ARM by 551.6% during the second quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock worth $94,790,000 after acquiring an additional 490,415 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of ARM by 186.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock worth $52,279,000 after acquiring an additional 233,909 shares during the period. Franklin Resources Inc. grew its position in shares of ARM by 21.7% in the third quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock valued at $183,265,000 after purchasing an additional 228,467 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of ARM in the fourth quarter valued at $22,705,000. 7.53% of the stock is owned by hedge funds and other institutional investors.

ARM Stock Performance

The business has a 50 day moving average of $137.33 and a 200-day moving average of $141.46. The company has a market capitalization of $156.40 billion, a P/E ratio of 248.77, a price-to-earnings-growth ratio of 6.57 and a beta of 4.53.

ARM (NASDAQ:ARM) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. ARM had a net margin of 18.13% and a return on equity of 13.69%. The firm had revenue of $844.00 million for the quarter, compared to the consensus estimate of $810.03 million. During the same period in the prior year, the firm posted $0.36 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, equities analysts forecast that Arm Holdings plc will post 0.84 EPS for the current fiscal year.

About ARM

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.