ARM (NASDAQ:ARM) Trading Up 2.8% – Here’s What Happened

Arm Holdings plc (NASDAQ:ARM) shares were up 2.8% on Tuesday . The company traded as high as $162.44 and last traded at $160.01. Approximately 1,500,280 shares changed hands during trading, a decline of 77% from the average daily volume of 6,605,650 shares. The stock had previously closed at $155.65.

Wall Street Analyst Weigh In

Several research firms have recently commented on ARM. JPMorgan Chase & Co. upped their price target 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. Evercore ISI lifted their target price 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. Susquehanna increased their price target on ARM from $118.00 to $140.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Loop Capital increased their target price on ARM from $130.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, Barclays increased their price objective on shares of ARM from $145.00 to $155.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Two research 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 company’s stock. Based on data from MarketBeat, ARM has an average rating of “Moderate Buy” and an average target price of $152.09.

ARM Trading Up 4.7 %

The company has a market cap of $170.76 billion, a price-to-earnings ratio of 271.92, a PEG ratio of 7.46 and a beta of 4.56. The company’s 50 day moving average price is $142.14 and its 200 day moving average price is $139.58.

ARM (NASDAQ:ARM) last issued its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share 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 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 business posted $0.36 earnings per share. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. Sell-side analysts predict that Arm Holdings plc will post 0.84 earnings per share for the current year.

Institutional Trading of ARM

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Modus Advisors LLC raised its position in shares of ARM by 300.2% in the 4th quarter. Modus Advisors LLC now owns 17,935 shares of the company’s stock worth $2,212,000 after buying an additional 13,453 shares during the period. KP Management LLC increased its stake in ARM by 28.6% during the 3rd quarter. KP Management LLC now owns 45,000 shares of the company’s stock worth $6,435,000 after buying an additional 10,000 shares during the period. XTX Topco Ltd increased its position in shares of ARM by 150.1% during the third quarter. XTX Topco Ltd now owns 6,486 shares of the company’s stock worth $928,000 after acquiring an additional 3,893 shares during the last quarter. Willner & Heller LLC raised its position in shares of ARM by 193.7% in the 3rd quarter. Willner & Heller LLC now owns 6,799 shares of the company’s stock valued at $972,000 after purchasing an additional 4,484 shares in the last quarter. Finally, Avalon Global Asset Management LLC acquired a new stake in shares of ARM during the third quarter worth approximately $8,581,000. 7.53% of the stock is owned by hedge funds and other institutional investors.

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.