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

Arm Holdings plc (NASDAQ:ARM)’s share price traded up 2.6% 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. 1,504,876 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 4,284,777 shares. The stock had previously closed at $147.52.

Several other research analysts have also weighed in on the company. Loop Capital boosted their price target on ARM from $130.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. UBS Group began coverage on shares of ARM in a research note on Monday, November 25th. They issued a “buy” rating and a $160.00 price target for the company. Susquehanna upped their target price on shares of ARM from $115.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. The Goldman Sachs Group boosted their target price on ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, TD Cowen increased their price objective on shares of ARM from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, ARM presently has an average rating of “Moderate Buy” and a consensus target price of $151.09.

Institutional Trading of ARM

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. American Century Companies Inc. bought a new stake in shares of ARM in the 2nd quarter valued at about $5,885,000. Envestnet Asset Management Inc. raised its holdings in ARM by 20.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 37,902 shares of the company’s stock worth $6,202,000 after purchasing an additional 6,311 shares during the last quarter. Meiji Yasuda Life Insurance Co lifted its position in shares of ARM by 32.1% in the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 8,585 shares of the company’s stock worth $1,405,000 after purchasing an additional 2,085 shares during the period. Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of ARM by 6.3% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 19,272 shares of the company’s stock valued at $3,153,000 after purchasing an additional 1,149 shares during the last quarter. Finally, Blair William & Co. IL increased its position in shares of ARM by 128.1% during the second quarter. Blair William & Co. IL now owns 5,520 shares of the company’s stock worth $903,000 after buying an additional 3,100 shares during the period. Institutional investors own 7.53% of the company’s stock.

ARM Stock Up 2.7 %

The business’s 50 day moving average is $137.33 and its two-hundred day moving average is $141.46. The firm has a market cap of $158.70 billion, a P/E ratio of 252.36, a P/E/G ratio of 6.57 and a beta of 4.53.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. ARM had a net margin of 18.13% and a return on equity of 13.69%. The company had revenue of $844.00 million for the quarter, compared to the consensus estimate of $810.03 million. During the same quarter in the previous year, the company earned $0.36 EPS. ARM’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities research analysts anticipate that Arm Holdings plc will post 0.84 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.