ARM (NASDAQ:ARM) Hits New 52-Week High at $181.88

Shares of Arm Holdings plc (NASDAQ:ARM) reached a new 52-week high during trading on Friday . The company traded as high as 181.88 and last traded at 176.97, with a volume of 5916518 shares traded. The stock had previously closed at 168.24.

Analyst Upgrades and Downgrades

ARM has been the subject of a number of research reports. Sanford C. Bernstein boosted their target price on shares of ARM from $72.00 to $92.00 and gave the stock an “underperform” rating in a research note on Thursday, May 16th. Evercore ISI cut their target price on shares of ARM from $156.00 to $145.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. Susquehanna reissued a “neutral” rating and set a $85.00 target price on shares of ARM in a research note on Thursday, April 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a research note on Thursday, May 9th. Finally, Guggenheim upped their price objective on shares of ARM from $110.00 to $169.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of 103.68.

ARM Stock Up 6.8 %

The firm’s fifty day moving average price is 131.74 and its 200 day moving average price is 113.65.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, May 8th. The company reported 0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of 0.30 by 0.06. ARM had a net margin of 9.46% and a return on equity of 16.94%. The company had revenue of 928.00 million for the quarter, compared to analyst estimates of 865.94 million. During the same period in the prior year, the business earned $0.02 EPS. The firm’s quarterly revenue was up 46.6% on a year-over-year basis. Research analysts anticipate that Arm Holdings plc will post 0.85 earnings per share for the current year.

Institutional Investors Weigh In On ARM

A number of large investors have recently modified their holdings of ARM. PNC Financial Services Group Inc. purchased a new position in shares of ARM in the 3rd quarter valued at $55,000. Hsbc Holdings PLC purchased a new position in shares of ARM in the 3rd quarter valued at $219,000. Glenmede Trust Co. NA purchased a new position in shares of ARM in the 3rd quarter valued at $1,037,000. iA Global Asset Management Inc. purchased a new position in shares of ARM in the 3rd quarter valued at $401,000. Finally, Tudor Investment Corp Et Al purchased a new position in shares of ARM in the 3rd quarter valued at $20,226,000. 7.53% of the stock is owned by hedge funds and other institutional investors.

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.