ARM (NASDAQ:ARM) Trading 3.8% Higher

Arm Holdings plc (NASDAQ:ARM)’s share price was up 3.8% during mid-day trading on Tuesday . The company traded as high as 98.37 and last traded at 96.62. Approximately 5,694,717 shares traded hands during trading, a decline of 61% from the average daily volume of 14,790,378 shares. The stock had previously closed at 93.11.

Analyst Ratings Changes

Several research firms have recently commented on ARM. Daiwa Capital Markets downgraded shares of ARM from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $63.00 to $130.00 in a research note on Friday, February 16th. Rosenblatt Securities increased their price objective on ARM from $140.00 to $180.00 and gave the company a “buy” rating in a report on Monday, February 26th. Evercore ISI initiated coverage on ARM in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $156.00 price objective for the company. JPMorgan Chase & Co. increased their price target on shares of ARM from $70.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. Finally, Mizuho lifted their price objective on shares of ARM from $100.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of 90.28.

ARM Stock Up 3.5 %

The stock’s 50 day simple moving average is 127.32 and its two-hundred day simple moving average is 87.12.

ARM (NASDAQ:ARM) last posted its quarterly earnings results on Wednesday, February 7th. The company reported 0.29 EPS for the quarter, beating the consensus estimate of 0.25 by 0.04. The company had revenue of 824.00 million during the quarter, compared to analyst estimates of 762.50 million. The firm’s revenue was up 13.8% compared to the same quarter last year. As a group, sell-side analysts predict that Arm Holdings plc will post 0.36 earnings per share for the current fiscal year.

Institutional Trading of ARM

Several institutional investors have recently made changes to their positions in ARM. Hsbc Holdings PLC purchased a new stake in ARM in the 3rd quarter valued at about $219,000. Robeco Schweiz AG acquired a new stake in ARM in the 3rd quarter valued at approximately $35,591,000. American Century Companies Inc. purchased a new stake in ARM in the third quarter valued at approximately $54,800,000. Citigroup Inc. purchased a new stake in ARM in the third quarter valued at approximately $344,000. Finally, UG Investment Advisers Ltd. acquired a new position in ARM during the third quarter worth $3,568,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

About ARM

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.