ARM (NASDAQ:ARM) Trading Up 16% on Analyst Upgrade

Arm Holdings plc (NASDAQ:ARM)’s share price was up 16% during trading on Wednesday after Susquehanna raised their price target on the stock from $118.00 to $140.00. Susquehanna currently has a neutral rating on the stock. ARM traded as high as $182.88 and last traded at $180.00. Approximately 15,389,874 shares changed hands during mid-day trading, an increase of 181% from the average daily volume of 5,472,844 shares. The stock had previously closed at $155.20.

Several other equities analysts have also recently weighed in on the stock. Loop Capital raised their price target on shares of ARM from $130.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Sanford C. Bernstein cut ARM from a “market perform” rating to an “underperform” rating and set a $100.00 target price on the stock. in a research report on Thursday, October 31st. Evercore ISI raised their price objective on ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. The Goldman Sachs Group upped their target price on shares of ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. raised their target price on ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $152.09.

Institutional Investors Weigh In On ARM

Several institutional investors have recently bought and sold shares of the stock. Franklin Resources Inc. lifted its position in ARM by 21.7% in the third quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock valued at $183,265,000 after purchasing an additional 228,467 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of ARM by 14,351.1% during the third quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock worth $1,161,670,000 after purchasing an additional 806,676 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of ARM by 186.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock worth $52,279,000 after purchasing an additional 233,909 shares during the last quarter. Mark Asset Management LP increased its holdings in ARM by 14.2% during the 2nd quarter. Mark Asset Management LP now owns 238,589 shares of the company’s stock valued at $39,038,000 after purchasing an additional 29,686 shares during the period. Finally, State Street Corp raised its position in ARM by 19.2% during the 3rd quarter. State Street Corp now owns 221,854 shares of the company’s stock valued at $31,727,000 after purchasing an additional 35,720 shares during the last quarter. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

ARM Trading Up 14.8 %

The firm has a market cap of $186.66 billion, a PE ratio of 297.16, a PEG ratio of 6.97 and a beta of 4.53. The firm has a fifty day simple moving average of $137.82 and a two-hundred day simple moving average of $140.73.

ARM (NASDAQ:ARM) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, beating 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 business had revenue of $844.00 million for the quarter, compared to analysts’ expectations of $810.03 million. During the same quarter in the previous 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. Equities analysts expect that Arm Holdings plc will post 0.84 earnings per share 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.