ARM (NASDAQ:ARM) Trading 0.9% Higher on Analyst Upgrade

Arm Holdings plc (NASDAQ:ARM) shares traded up 0.9% during trading on Tuesday after Loop Capital raised their price target on the stock from $180.00 to $195.00. Loop Capital currently has a buy rating on the stock. ARM traded as high as $163.11 and last traded at $162.22. 1,245,851 shares were traded during mid-day trading, a decline of 82% from the average session volume of 6,846,593 shares. The stock had previously closed at $160.84.

A number of other analysts have also commented on ARM. The Goldman Sachs Group upped their price objective on shares of ARM from $159.00 to $174.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Raymond James lifted their price objective on shares of ARM from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Benchmark restated a “hold” rating on shares of ARM in a report on Thursday, February 6th. Evercore ISI lifted their price target on ARM from $176.00 to $202.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Finally, Barclays increased their price objective on ARM from $145.00 to $155.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $162.83.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Sanctuary Advisors LLC bought a new position in ARM in the 2nd quarter worth approximately $737,000. Brookstone Capital Management raised its stake in ARM by 12.4% during the 3rd quarter. Brookstone Capital Management now owns 1,411 shares of the company’s stock valued at $202,000 after purchasing an additional 156 shares during the last quarter. Ritholtz Wealth Management boosted its holdings in ARM by 23.2% in the 3rd quarter. Ritholtz Wealth Management now owns 2,764 shares of the company’s stock valued at $395,000 after purchasing an additional 520 shares during the period. Concourse Financial Group Securities Inc. grew its position in ARM by 10.0% in the 3rd quarter. Concourse Financial Group Securities Inc. now owns 2,890 shares of the company’s stock worth $413,000 after purchasing an additional 263 shares during the last quarter. Finally, VitalStone Financial LLC bought a new position in shares of ARM during the 3rd quarter worth about $110,000. Institutional investors and hedge funds own 7.53% of the company’s stock.

ARM Stock Up 0.4 %

The stock’s 50-day moving average price is $145.10 and its 200 day moving average price is $139.72. The firm has a market cap of $169.28 billion, a price-to-earnings ratio of 212.68, a price-to-earnings-growth ratio of 7.83 and a beta of 4.57.

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.