ARM (NASDAQ:ARM) Sees Strong Trading Volume After Analyst Upgrade

Shares of Arm Holdings plc (NASDAQ:ARM) saw unusually-strong trading volume 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. Approximately 7,993,540 shares traded hands during mid-day trading, an increase of 67% from the previous session’s volume of 4,788,344 shares.The stock last traded at $180.52 and had previously closed at $155.20.

Several other equities research analysts have also issued reports on the stock. UBS Group started coverage on shares of ARM in a report on Monday, November 25th. They issued a “buy” rating and a $160.00 price target on the stock. The Goldman Sachs Group boosted their price target on shares of ARM from $144.00 to $159.00 and gave the company a “buy” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. increased their target price on shares of ARM from $140.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Barclays upped their price objective on shares of ARM from $145.00 to $155.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Finally, Loop Capital upped their price objective on shares of ARM from $130.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Two investment 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. According to data from MarketBeat, ARM has an average rating of “Moderate Buy” and a consensus price target of $152.09.

Institutional Investors Weigh In On ARM

Several hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. raised its holdings in ARM by 21.7% in the third quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock worth $183,265,000 after purchasing an additional 228,467 shares during the period. International Assets Investment Management LLC raised its holdings in ARM by 14,351.1% in 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. raised its holdings in 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 period. Mark Asset Management LP raised its holdings in ARM by 14.2% in the second quarter. Mark Asset Management LP now owns 238,589 shares of the company’s stock worth $39,038,000 after purchasing an additional 29,686 shares during the period. Finally, State Street Corp raised its holdings in ARM by 19.2% in the third quarter. State Street Corp now owns 221,854 shares of the company’s stock worth $31,727,000 after purchasing an additional 35,720 shares during the period. 7.53% of the stock is currently owned by institutional investors and hedge funds.

ARM Stock Down 0.4 %

The company’s fifty day simple moving average is $139.32 and its two-hundred day simple moving average is $141.18. The company has a market capitalization of $173.86 billion, a price-to-earnings ratio of 278.04, a price-to-earnings-growth ratio of 8.41 and a beta of 4.53.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $810.03 million. During the same quarter in the prior year, the firm earned $0.36 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. Equities research analysts expect that Arm Holdings plc will post 0.84 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.