ARM (NASDAQ:ARM) Shares Up 1.7% on Analyst Upgrade

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 changed hands 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.

Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. increased 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. Barclays increased their price objective 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. Benchmark assumed coverage on shares of ARM in a research report on Monday, September 16th. They set a “hold” rating on the stock. The Goldman Sachs Group increased their price objective on shares of ARM from $144.00 to $159.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Sanford C. Bernstein downgraded shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price objective on the stock. in a research report on Thursday, October 31st. 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $150.64.

Institutional Investors Weigh In On ARM

Hedge funds have recently modified their holdings of the business. ORG Partners LLC purchased a new stake in ARM during the third quarter worth $29,000. Gilliland Jeter Wealth Management LLC raised its position in shares of ARM by 83.0% in the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after acquiring an additional 117 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of ARM in the 3rd quarter worth $52,000. Farther Finance Advisors LLC raised its position in shares of ARM by 45.8% in the 3rd 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 position in shares of ARM in the 3rd quarter worth $70,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

ARM Trading Up 1.4 %

The stock has a market capitalization 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. The company has a 50-day moving average price of $137.35 and a 200 day moving average price of $141.54.

ARM (NASDAQ:ARM) last announced its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.04. ARM had a return on equity of 13.69% and a net margin of 18.13%. The company had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. During the same period in the prior year, the company posted $0.36 EPS. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, research analysts expect that Arm Holdings plc will post 0.79 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.