ARM (NASDAQ:ARM) Trading Up 0.9% After Analyst Upgrade

Arm Holdings plc (NASDAQ:ARM)’s share price traded up 0.9% during mid-day trading on Tuesday after Loop Capital raised their price target on the stock from $180.00 to $195.00. Loop Capital currently has a buy rating on the stock. ARM traded as high as $163.11 and last traded at $162.22. 1,245,851 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 6,846,593 shares. The stock had previously closed at $160.84.

Other analysts have also recently issued research reports about the stock. Barclays upped their target price on shares of ARM from $145.00 to $155.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Susquehanna upped their price objective on ARM from $118.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Benchmark reaffirmed a “hold” rating on shares of ARM in a research note on Thursday, February 6th. Raymond James upped their price target on ARM from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Finally, Rosenblatt Securities lifted their price objective on ARM from $180.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, ARM presently has a consensus rating of “Moderate Buy” and an average price target of $162.83.

Hedge Funds Weigh In On ARM

Several large investors have recently bought and sold shares of the business. Franklin Resources Inc. grew its holdings in ARM by 21.7% during 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 period. International Assets Investment Management LLC grew its holdings in shares of ARM by 14,351.1% in the 3rd quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock valued at $1,161,670,000 after buying an additional 806,676 shares during the period. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of ARM by 4,506.5% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 808,953 shares of the company’s stock valued at $107,774,000 after buying an additional 791,392 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of ARM by 186.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock valued at $52,279,000 after buying an additional 233,909 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in ARM during the fourth quarter worth about $32,655,000. 7.53% of the stock is currently owned by institutional investors and hedge funds.

ARM Price Performance

The business has a 50 day simple moving average of $145.10 and a 200-day simple moving average of $139.72. The stock has a market capitalization of $169.28 billion, a price-to-earnings ratio of 212.68, a PEG ratio of 7.83 and a beta of 4.57.

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.