ARM (NASDAQ:ARM) Trading Up 16% on Analyst Upgrade

Arm Holdings plc (NASDAQ:ARM)’s share price shot up 16% during mid-day trading on Wednesday after Susquehanna raised their price target on the stock from $118.00 to $140.00. Susquehanna currently has a neutral rating on the stock. ARM traded as high as $182.88 and last traded at $180.00. 15,389,874 shares changed hands during trading, an increase of 181% from the average session volume of 5,472,844 shares. The stock had previously closed at $155.20.

Other equities analysts have also recently issued reports about the stock. Barclays upped their target price on shares of ARM from $145.00 to $155.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. JPMorgan Chase & Co. upped their price objective on shares of ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. UBS Group began coverage on ARM in a research report on Monday, November 25th. They set a “buy” rating and a $160.00 target price on the stock. The Goldman Sachs Group upped their price target on ARM from $144.00 to $159.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Loop Capital increased their price objective on shares of ARM from $130.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $152.09.

Institutional Trading of ARM

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Modus Advisors LLC boosted its position in ARM by 300.2% in the 4th quarter. Modus Advisors LLC now owns 17,935 shares of the company’s stock valued at $2,212,000 after buying an additional 13,453 shares during the last quarter. KP Management LLC boosted its holdings in ARM by 28.6% in the third quarter. KP Management LLC now owns 45,000 shares of the company’s stock valued at $6,435,000 after acquiring an additional 10,000 shares during the last quarter. XTX Topco Ltd increased its position in ARM by 150.1% in the third quarter. XTX Topco Ltd now owns 6,486 shares of the company’s stock worth $928,000 after purchasing an additional 3,893 shares during the period. Willner & Heller LLC raised its holdings in ARM by 193.7% during 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 during the last quarter. Finally, Avalon Global Asset Management LLC acquired a new position in ARM during the 3rd quarter valued at about $8,581,000. Institutional investors and hedge funds own 7.53% of the company’s stock.

ARM Trading Up 15.9 %

The firm’s 50 day moving average price is $137.82 and its 200-day moving average price is $140.73. The company has a market cap of $188.54 billion, a P/E ratio of 299.89, a price-to-earnings-growth ratio of 6.97 and a beta of 4.53.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. The firm had revenue of $844.00 million for 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%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the firm earned $0.36 earnings per share. Analysts predict 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.