ARM (NASDAQ:ARM) Stock Price Up 1.7% on Analyst Upgrade

Shares of Arm Holdings plc (NASDAQ:ARM) traded 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 were traded 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.

ARM has been the topic of a number of other research reports. TD Cowen increased their price objective 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. The Goldman Sachs Group increased their price objective on shares of ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a research 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 on the stock. in a research report on Thursday, October 31st. Evercore ISI raised their price target on shares of ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Barclays raised their price target on shares of ARM from $125.00 to $145.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $150.64.

Hedge Funds Weigh In On ARM

Large investors have recently added to or reduced their stakes in the business. ORG Partners LLC purchased a new position in shares of ARM in the third quarter valued at about $29,000. Gilliland Jeter Wealth Management LLC increased its position in shares of ARM by 83.0% during the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock valued at $37,000 after buying an additional 117 shares during the period. Quantbot Technologies LP bought a new stake in ARM during the third quarter worth about $52,000. Farther Finance Advisors LLC boosted its stake in ARM by 45.8% during the third quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock worth $60,000 after acquiring an additional 131 shares in the last quarter. Finally, First Community Trust NA bought a new stake in ARM during the third quarter worth about $70,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

ARM Price Performance

The firm’s 50 day moving average is $137.35 and its 200 day moving average is $141.54. The firm has a market cap of $145.60 billion, a P/E ratio of 231.59, a price-to-earnings-growth ratio of 7.15 and a beta of 4.53.

ARM (NASDAQ:ARM) last posted its quarterly earnings data 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 net margin of 18.13% and a return on equity of 13.69%. The business had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. During the same quarter in the previous year, the firm posted $0.36 earnings per share. ARM’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, analysts expect 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.