ARM (NASDAQ:ARM) Trading 1.2% Higher Following Analyst Upgrade

Arm Holdings plc (NASDAQ:ARM) shot up 1.2% during mid-day trading on Monday 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 $151.60 and last traded at $149.26. 4,214,684 shares changed hands during trading, a decline of 3% from the average session volume of 4,336,615 shares. The stock had previously closed at $147.52.

ARM has been the topic of a number of other research reports. JPMorgan Chase & Co. increased their price target on shares of ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. UBS Group started coverage on ARM in a report on Monday, November 25th. They issued a “buy” rating and a $160.00 target price for the company. TD Cowen boosted their price target on ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Sanford C. Bernstein cut ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price objective on the stock. in a research report on Thursday, October 31st. Finally, Evercore ISI boosted their target price on ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, ARM presently has a consensus rating of “Moderate Buy” and a consensus price target of $151.09.

Institutional Investors Weigh In On ARM

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARM. Modus Advisors LLC raised its holdings in ARM by 300.2% during the fourth quarter. Modus Advisors LLC now owns 17,935 shares of the company’s stock valued at $2,212,000 after acquiring an additional 13,453 shares during the period. KP Management LLC grew its position in shares of ARM by 28.6% during the third quarter. KP Management LLC now owns 45,000 shares of the company’s stock worth $6,435,000 after purchasing an additional 10,000 shares in the last quarter. XTX Topco Ltd raised its stake in ARM by 150.1% during the 3rd quarter. XTX Topco Ltd now owns 6,486 shares of the company’s stock valued at $928,000 after purchasing an additional 3,893 shares during the period. Willner & Heller LLC lifted its holdings in ARM by 193.7% in the 3rd quarter. Willner & Heller LLC now owns 6,799 shares of the company’s stock worth $972,000 after purchasing an additional 4,484 shares in the last quarter. Finally, Avalon Global Asset Management LLC bought a new position in ARM in the 3rd quarter worth approximately $8,581,000. Institutional investors own 7.53% of the company’s stock.

ARM Stock Performance

The business’s fifty day simple moving average is $137.37 and its 200-day simple moving average is $141.05. The firm has a market capitalization of $156.40 billion, a PE ratio of 248.77, a price-to-earnings-growth ratio of 6.57 and a beta of 4.53.

ARM (NASDAQ:ARM) last posted its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.04. The company had revenue of $844.00 million during the quarter, compared to analysts’ expectations of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. ARM’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the company posted $0.36 earnings per share. Sell-side analysts expect that Arm Holdings plc will post 0.84 earnings per share 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.