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

Arm Holdings plc (NASDAQ:ARM) shares traded 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 traded 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.

Several other analysts have also weighed in on the company. Sanford C. Bernstein lowered ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price objective on the stock. in a research note on Thursday, October 31st. Wells Fargo & Company raised their price objective on ARM from $155.00 to $162.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. JPMorgan Chase & Co. raised their price objective on ARM from $140.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. TD Cowen lifted their target price on ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Loop Capital lifted 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. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $152.09.

Institutional Trading of ARM

A number of hedge funds have recently bought and sold shares of the business. New Wave Wealth Advisors LLC raised its stake in shares of ARM by 116.3% in the fourth quarter. New Wave Wealth Advisors LLC now owns 5,024 shares of the company’s stock valued at $620,000 after buying an additional 2,701 shares during the period. Cibc World Market Inc. raised its stake in shares of ARM by 18.9% during the 4th quarter. Cibc World Market Inc. now owns 219,613 shares of the company’s stock valued at $27,091,000 after purchasing an additional 34,847 shares during the period. Gilbert & Cook Inc. bought a new stake in shares of ARM during the 4th quarter valued at $295,000. Smith Group Asset Management LLC bought a new stake in shares of ARM during the 4th quarter valued at $2,961,000. Finally, R Squared Ltd bought a new stake in shares of ARM during the 4th quarter valued at $130,000. 7.53% of the stock is currently owned by institutional investors.

ARM Stock Down 7.4 %

The company has a 50-day moving average of $138.72 and a 200 day moving average of $141.01. The firm has a market capitalization of $174.53 billion, a PE ratio of 277.60, a PEG ratio of 7.25 and a beta of 4.53.

ARM (NASDAQ:ARM) last posted its 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. ARM had a return on equity of 13.69% and a net margin of 18.13%. The business had revenue of $844.00 million during the quarter, compared to analysts’ expectations of $810.03 million. During the same period in the previous year, the business earned $0.36 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. As a group, equities analysts anticipate that Arm Holdings plc will post 0.84 EPS for the current fiscal 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.