ARM (NASDAQ:ARM) Shares Up 2.6% Following Analyst Upgrade

Arm Holdings plc (NASDAQ:ARM) rose 2.6% during mid-day trading on Friday after Barclays raised their price target on the stock from $145.00 to $155.00. Barclays currently has an overweight rating on the stock. ARM traded as high as $151.45 and last traded at $151.41. Approximately 1,504,876 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 4,284,777 shares. The stock had previously closed at $147.52.

A number of other analysts have also recently commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Susquehanna raised their price target on ARM from $115.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Evercore ISI upped their price target on shares of ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a research note 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 target price for the company. in a research report on Thursday, October 31st. Finally, UBS Group started coverage on shares of ARM in a research note on Monday, November 25th. They issued a “buy” rating and a $160.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, ARM currently has an average rating of “Moderate Buy” and an average price target of $151.09.

Hedge Funds Weigh In On ARM

Several large investors have recently added to or reduced their stakes in the company. ORG Partners LLC acquired a new position in shares of ARM in the 3rd quarter worth approximately $29,000. Gilliland Jeter Wealth Management LLC boosted its position in ARM by 83.0% in 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 in the last quarter. Quantbot Technologies LP bought a new stake in ARM during the third quarter worth about $52,000. Farther Finance Advisors LLC increased its holdings in shares of 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 buying an additional 131 shares in the last quarter. Finally, First Community Trust NA acquired a new stake in shares of ARM during the third quarter worth approximately $70,000. Institutional investors and hedge funds own 7.53% of the company’s stock.

ARM Trading Up 2.7 %

The firm has a market capitalization of $158.70 billion, a price-to-earnings ratio of 252.36, a P/E/G ratio of 6.57 and a beta of 4.53. The firm has a fifty day moving average price of $137.33 and a 200 day moving average price of $141.46.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 EPS 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 during the quarter, compared to the consensus estimate of $810.03 million. During the same quarter in the prior year, the company posted $0.36 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. As a group, equities analysts predict that Arm Holdings plc will post 0.84 EPS for the current fiscal 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.