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

Shares of Arm Holdings plc (NASDAQ:ARM) were up 16% during 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. Approximately 15,389,874 shares traded hands during trading, an increase of 181% from the average daily volume of 5,472,844 shares. The stock had previously closed at $155.20.

ARM has been the topic of a number of other research reports. Wells Fargo & Company increased their price objective on ARM from $155.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. 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 for the company. The Goldman Sachs Group increased their price objective on ARM from $144.00 to $159.00 and gave the company a “buy” rating in a research report 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 for the company. in a research report on Thursday, October 31st. Finally, TD Cowen raised their target price on ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $152.09.

Institutional Trading of ARM

Several institutional investors and hedge funds have recently added to or reduced their stakes in ARM. International Assets Investment Management LLC grew its position in shares of ARM by 14,351.1% during the 3rd quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock worth $1,161,670,000 after buying an additional 806,676 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in ARM by 186.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock worth $52,279,000 after acquiring an additional 233,909 shares during the last quarter. Franklin Resources Inc. boosted its position in ARM by 21.7% during the 3rd quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock worth $183,265,000 after acquiring an additional 228,467 shares during the last quarter. SG Americas Securities LLC acquired a new position in ARM during the 4th quarter worth approximately $22,705,000. Finally, Erste Asset Management GmbH acquired a new position in ARM during the 3rd quarter worth approximately $11,646,000. 7.53% of the stock is owned by institutional investors.

ARM Trading Down 7.4 %

The company has a market cap of $174.53 billion, a P/E ratio of 277.60, a PEG ratio of 7.25 and a beta of 4.53. The business has a 50 day moving average price of $138.72 and a 200-day moving average price of $141.01.

ARM (NASDAQ:ARM) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $810.03 million. During the same quarter in the prior year, the business earned $0.36 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, sell-side analysts expect that Arm Holdings plc will post 0.84 earnings per share 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.