ARM (NASDAQ:ARM) Trading Up 1.7% Following Analyst Upgrade

Arm Holdings plc (NASDAQ:ARM) shot up 1.7% during mid-day trading on Tuesday after Wells Fargo & Company raised their price target on the stock from $155.00 to $162.00. Wells Fargo & Company currently has an overweight rating on the stock. ARM traded as high as $143.13 and last traded at $139.36. 944,556 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 4,285,683 shares. The stock had previously closed at $137.07.

A number of other equities research analysts have also recently commented on ARM. Barclays upped their target price on shares of ARM from $125.00 to $145.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Sanford C. Bernstein cut shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price target for the company. in a report on Thursday, October 31st. Loop Capital upped their target price on shares of ARM from $130.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. TD Cowen upped their target price 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. Finally, UBS Group assumed coverage on shares of ARM in a research report on Monday, November 25th. They issued a “buy” rating and a $160.00 price target on the stock. Two analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, ARM presently has a consensus rating of “Moderate Buy” and a consensus price target of $150.64.

Hedge Funds Weigh In On ARM

Large investors have recently bought and sold shares of the stock. Franklin Resources Inc. raised its stake in shares of ARM by 21.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock valued at $183,265,000 after acquiring an additional 228,467 shares during the period. International Assets Investment Management LLC raised its stake in shares of ARM by 14,351.1% in 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 acquiring an additional 806,676 shares during the period. Sei Investments Co. raised its stake in shares of ARM by 551.6% in the 2nd quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock valued at $94,790,000 after acquiring an additional 490,415 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of ARM by 186.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock valued at $52,279,000 after acquiring an additional 233,909 shares during the period. Finally, Mark Asset Management LP raised its stake in shares of ARM by 14.2% in the 2nd quarter. Mark Asset Management LP now owns 238,589 shares of the company’s stock valued at $39,038,000 after acquiring an additional 29,686 shares during the period. Hedge funds and other institutional investors own 7.53% of the company’s stock.

ARM Trading Up 5.2 %

The stock has a market cap of $154.45 billion, a PE ratio of 245.67, a P/E/G ratio of 7.15 and a beta of 4.53. The company’s 50 day moving average is $137.34 and its 200-day moving average is $141.38.

ARM (NASDAQ:ARM) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.04. The firm had revenue of $844.00 million for the quarter, compared to the consensus estimate of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 EPS. As a group, analysts forecast that Arm Holdings plc will post 0.79 EPS for the current 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.