ARM (NASDAQ:ARM) Stock Price Up 3.2%

Arm Holdings plc (NASDAQ:ARM)’s stock price rose 3.2% during trading on Tuesday . The stock traded as high as 169.25 and last traded at 168.71. Approximately 1,968,141 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 12,765,120 shares. The stock had previously closed at 163.55.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ARM. Evercore ISI reduced their price target on shares of ARM from $156.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Morgan Stanley upgraded ARM from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $107.00 to $190.00 in a report on Friday, July 19th. Needham & Company LLC restated a “hold” rating on shares of ARM in a report on Thursday, May 9th. Wells Fargo & Company lifted their price objective on ARM from $100.00 to $115.00 and gave the company an “overweight” rating in a report on Monday, April 29th. Finally, Sanford C. Bernstein increased their target price on ARM from $72.00 to $92.00 and gave the stock an “underperform” rating in a research note on Thursday, May 16th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of 109.08.

ARM Trading Down 5.4 %

The company’s fifty day moving average price is 150.53 and its 200 day moving average price is 123.90.

ARM (NASDAQ:ARM) last posted its quarterly earnings data on Wednesday, May 8th. The company reported 0.36 EPS for the quarter, topping analysts’ consensus estimates of 0.30 by 0.06. The firm had revenue of 928.00 million for the quarter, compared to analyst estimates of 865.94 million. ARM had a return on equity of 16.94% and a net margin of 9.46%. The company’s revenue was up 46.6% on a year-over-year basis. During the same quarter last year, the company earned $0.02 EPS. On average, research analysts predict that Arm Holdings plc will post 0.81 EPS for the current fiscal year.

Institutional Investors Weigh In On ARM

A number of large investors have recently bought and sold shares of ARM. Atria Wealth Solutions Inc. acquired a new stake in shares of ARM during the 4th quarter worth approximately $665,000. Rheos Capital Works Inc. boosted its holdings in shares of ARM by 48.1% in the 1st quarter. Rheos Capital Works Inc. now owns 256,900 shares of the company’s stock valued at $32,110,000 after purchasing an additional 83,400 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in shares of ARM in the 1st quarter valued at $222,000. O Neil Global Advisors Inc. acquired a new position in shares of ARM during the 4th quarter worth $664,000. Finally, Rakuten Securities Inc. bought a new stake in shares of ARM during the 4th quarter worth $1,443,000. 7.53% of the stock is currently owned by institutional investors and hedge funds.

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.