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

Arm Holdings plc (NASDAQ:ARM)’s stock price 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 changing hands. The stock had previously closed at 168.24.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ARM shares. Rosenblatt Securities reissued a “buy” rating and set a $180.00 price target on shares of ARM in a report on Monday, May 6th. Sanford C. Bernstein raised their price objective on ARM from $72.00 to $92.00 and gave the company an “underperform” rating in a research report on Thursday, May 16th. The Goldman Sachs Group raised their price objective on ARM from $110.00 to $143.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Susquehanna restated a “neutral” rating and set a $85.00 price objective on shares of ARM in a research report on Thursday, April 4th. Finally, Wells Fargo & Company raised their price objective on ARM from $100.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, ARM presently has an average rating of “Hold” and a consensus price target of 103.68.

ARM Stock Performance

The company’s 50 day moving average price is 131.74 and its two-hundred day moving average price is 113.65.

ARM (NASDAQ:ARM) last posted its quarterly earnings results on Wednesday, May 8th. The company reported 0.36 earnings per share for the quarter, beating the consensus estimate of 0.30 by 0.06. ARM had a net margin of 9.46% and a return on equity of 16.94%. The firm had revenue of 928.00 million during the quarter, compared to the consensus estimate of 865.94 million. During the same quarter in the previous year, the firm posted $0.02 earnings per share. The company’s revenue was up 46.6% on a year-over-year basis. On average, sell-side analysts expect that Arm Holdings plc will post 0.85 EPS for the current fiscal year.

Hedge Funds Weigh In On ARM

A number of large investors have recently bought and sold shares of the business. Mark Sheptoff Financial Planning LLC purchased a new position in ARM in the first quarter worth $25,000. SOA Wealth Advisors LLC. purchased a new position in ARM in the first quarter worth $35,000. Naples Money Management LLC grew its holdings in ARM by 47.8% in the first quarter. Naples Money Management LLC now owns 340 shares of the company’s stock worth $42,000 after purchasing an additional 110 shares during the last quarter. Westside Investment Management Inc. purchased a new position in ARM in the third quarter worth $43,000. Finally, Northwest Financial Advisors purchased a new position in ARM in the fourth quarter worth $46,000. Institutional investors own 7.53% of the company’s stock.

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.